Michael J. Arougheti - Nov 14, 2025 Form 4 Insider Report for Ares Management Corp (ARES)

Role
Co-Founder and CEO, Director
Signature
/s/ Anton Feingold, by power of attorney
Stock symbol
ARES
Transactions as of
Nov 14, 2025
Transactions value $
$0
Form type
4
Date filed
11/18/2025, 07:53 PM
Previous filing
Aug 26, 2025
Next filing
Nov 25, 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Arougheti Michael J Co-Founder and CEO, Director 1800 AVENUE OF THE STARS, SUITE 1400, LOS ANGELES /s/ Anton Feingold, by power of attorney 2025-11-18 0001304471

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARES Class A Common Stock Conversion of derivative security $0 +590K $0.00 590K Nov 14, 2025 By Atticus Enterprises LLC
holding ARES Class A Common Stock 1.4M Nov 14, 2025 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ARES Ares Operating Group Units Conversion of derivative security -590K -7.52% 7.25M Nov 14, 2025 Class A Common Stock 590K By Ares Owners Holdings L.P. F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents 1,400,000 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.
F2 Pursuant to the terms of the Sixth Amended and Restated Exchange Agreement (the "Exchange Agreement"), dated as of May 8, 2025, among Ares Management Corporation, Ares Holdings L.P. and each Ares Operating Group Limited Partner (as defined in the Exchange Agreement), and subject to certain requirements and restrictions, the partnership units of the Ares Operating Group ("AOG Units") are exchangeable for shares of Class A Common Stock on a one-for-one basis.
F3 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 AOG Units. The AOG Units indirectly held by the reporting person are the number of AOG Units that he has a right to receive as a limited partner in AOH.