[Form 4] Ares Management Corporation Insider Trading Activity

Rhea-AI Filing Summary

Anton P. Ressler, Co-Founder & Executive Chairman of Ares Management Corp (ARES), reported multiple sales of Class A common stock under a 10b5-1 trading plan adopted May 21, 2025. The filings show sales executed on September 8 and 9, 2025 totaling 271,741 shares across multiple trades at weighted-average prices ranging roughly from $175.00 to $177.47. The Form 4 reports these sales were made by or through a vehicle controlled by the reporting person and that many remaining shares are held indirectly through TJ Capital Investors, LLC and Ares Owners Holdings L.P., with AOH shown as holding 2,235,625 shares indirectly. The Form is signed by an attorney on behalf of the reporting person and notes the reporter is a director and >10% owner.

Positive

• Sales executed under a 10b5-1 plan, indicating the trades were pre-authorized and designed to provide affirmative defense under Rule 10b5-1
• Detailed weighted-average price ranges provided for each trade block, with offer to supply per-trade breakdowns on request

Negative

• Substantial insider selling totaling 271,741 shares over two days, which may be viewed as material by some investors
• Limited disclosure of the 10b5-1 plan parameters (e.g., exact per-trade schedule) in the Form 4 itself, requiring requests for more granular trade-level data

Insights

Corporate Governance Expert

TL;DR: Multiple insider sales were executed under a documented 10b5-1 plan, indicating pre-set disposition rather than ad hoc trades.

The Form 4 discloses that Anton P. Ressler, a director and executive chairman, effected several sales on September 8-9, 2025 pursuant to a 10b5-1 trading plan adopted May 21, 2025. Using such a plan generally reduces concerns about opportunistic timing by management because trades are pre-authorized, though transparency around the plan's parameters (e.g., volume schedule) is limited in the filing. The report also clarifies substantial indirect holdings remain via TJ Capital Investors, LLC and Ares Owners Holdings L.P., which is relevant when assessing ongoing control and alignment with shareholders.

Securities Analyst

TL;DR: Insider disposed of 271,741 ARES shares at weighted-average prices near $175–$177 under a 10b5-1 program.

The Form 4 catalogs five sale line items executed over two days with weighted-average price ranges disclosed for each block. Aggregate disclosed shares sold equal 271,741. The filing shows that remaining beneficial ownership is largely indirect through management-controlled vehicles, including Ares Owners Holdings L.P. with 2,235,625 shares, which maintains significant economic exposure. From a market-impact perspective, the filing documents material insider selling but also confirms adherence to a Rule 10b5-1 plan, which frames these trades as pre-planned dispositions rather than discretionary sales tied to contemporaneous material information.

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).

X

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^*

RESSLER ANTONY P

(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	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Co-Founder & Exec. Chairman

3. Date of Earliest Transaction (Month/Day/Year)
09/08/2025

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	09/08/2025		S(1)		111,974	D	$175.51(2)	288,604	I	By TJ Capital Investors, LLC
Class A Common Stock	09/08/2025		S(1)		54,506	D	$176.25(3)	234,098	I	By TJ Capital Investors, LLC
Class A Common Stock	09/08/2025		S(1)		3,861	D	$177.08(4)	230,237	I	By TJ Capital Investors, LLC
Class A Common Stock	09/09/2025		S(1)		83,754	D	$175.38(5)	146,483	I	By TJ Capital Investors, LLC
Class A Common Stock	09/09/2025		S(1)		17,646	D	$176.27(6)	128,837	I	By TJ Capital Investors, LLC
Class A Common Stock								2,235,625	I	By Ares Owners Holdings L.P.(7)

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. This transaction was effected pursuant to a 10b5-1 trading plan adopted on May 21, 2025 by the reporting person, or a vehicle controlled by him.

2. The price reported in Column 4 is a weighted average price. These shares were sold on September 8, 2025 in multiple transactions at prices ranging from $175.00 to $175.99. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote and footnotes 3, 4, 5 and 6.

3. The price reported in Column 4 is a weighted average price. These shares were sold on September 8, 2025 in multiple transactions at prices ranging from $176.00 to $176.98.

4. The price reported in Column 4 is a weighted average price. These shares were sold on September 8, 2025 in multiple transactions at prices ranging from $177.00 to $177.47.

5. The price reported in Column 4 is a weighted average price. These shares were sold on September 9, 2025 in multiple transactions at prices ranging from $175.04 to $176.02.

6. The price reported in Column 4 is a weighted average price. These shares were sold on September 9, 2025 in multiple transactions at prices ranging from $176.04 to $176.67.

7. The reporting person or a vehicle controlled by him is a limited partner in Ares Owners Holdings L.P. ("AOH"), the direct holder of the shares of Class A Common Stock. The shares of Class A Common Stock indirectly held by the reporting person or the vehicle are the number of shares of Class A Common Stock that he or the vehicle has a right to receive as a limited partner in AOH.

Remarks:

	/s/ Anton Feingold, by power of attorney	09/09/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Anton P. Ressler report on the ARES Form 4?

The Form 4 reports that Anton P. Ressler sold 271,741 shares of Ares Management Class A common stock on September 8 and 9, 2025 under a 10b5-1 trading plan.

Were the sales made pursuant to a 10b5-1 trading plan?

Yes. The filing states the transactions were effected pursuant to a 10b5-1 plan adopted May 21, 2025.

At what prices were the shares sold?

The Form 4 discloses weighted-average price ranges by transaction blocks, with prices reported roughly between $175.00 and $177.47 per share.

How are the remaining shares held by the reporting person?

Many shares are held indirectly through TJ Capital Investors, LLC and Ares Owners Holdings L.P.; AOH is shown as holding 2,235,625 shares indirectly.

What is the reporting person’s relationship to Ares Management (ARES)?

The Form 4 indicates Anton P. Ressler is a Co-Founder & Executive Chairman, a Director, and a 10% owner of the issuer.