Ares Management (ARES) Board Member Awarded Additional Stock Units

Rhea-AI Filing Summary

Form 4 – Insider transaction summary for Ares Management Corp. (ARES)

Director Antoinette Cook Bush was granted 1,166 Class A common shares on 07/31/2025 under the company’s equity incentive plan (Transaction Code “A”). The award is structured as restricted stock units (RSUs) at an accounting price of $0, indicating a compensatory grant rather than an open-market purchase. After this transaction, Bush’s direct beneficial ownership increases to 22,440 shares, including the newly issued RSUs. The units will vest on the first anniversary of the grant date, subject to the terms of the award agreement.

No sales or derivative security transactions were reported, and there are no changes to indirect holdings. While the transaction modestly tightens board-shareholder alignment, the size of the grant is small relative to ARES’s market capitalization, so overall market impact is expected to be minimal.

Insights

Corporate Governance Analyst

TL;DR: Routine RSU grant; modest alignment, negligible market impact.

The Form 4 shows a standard annual equity grant to a non-executive director. With only 1,166 shares, the incremental stake (<1% of average daily volume) does not signal a major shift in insider sentiment or capital structure. Nonetheless, continued stock-based compensation supports long-term alignment between the board and shareholders. No red flags emerge, and the absence of sales preserves a neutral-to-slightly-positive governance tone.

Portfolio Manager

TL;DR: Immateral transaction; no portfolio action warranted.

The award adds roughly US$low-six-figure value (depending on share price) to the director’s holdings—immaterial versus ARES’s multi-billion-dollar float. Lack of selling pressure is marginally constructive, but position sizing offers limited predictive power. I classify the filing as informational only and would not adjust weightings based on this event.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider BUSH ANTOINETTE COOK

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock	1,166	$0.00	--

Holdings After Transaction: Class A Common Stock — 22,440 shares (Direct)

Footnotes (1)

1. Granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restrictions on such units are scheduled to lapse on the first anniversary of the grant date. Includes 1,166 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

BUSH ANTOINETTE COOK

(Last) (First) (Middle)

1800 AVENUE OF THE STARS

SUITE 1400

(Street)

LOS ANGELES CA 90067

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Ares Management Corp [ ARES ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/31/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	07/31/2025		A		1,166(1)	A	$0	22,440(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restrictions on such units are scheduled to lapse on the first anniversary of the grant date.

2. Includes 1,166 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

Remarks:

	/s/ Anton Feingold, by power of attorney	08/04/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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