DAVID B. KAPLAN - 15 May 2025 Form 4 Insider Report for Ares Management Corp (ARES)

Role
Co-Founder, Director
Signature
/s/ Naseem Sagati Aghili, by power of attorney
Issuer symbol
ARES
Transactions as of
15 May 2025
Net transactions value
-$10,584,827
Form type
4
Filing time
19 May 2025, 20:18:19 UTC
Previous filing
06 Mar 2025
Next filing
29 May 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
KAPLAN DAVID B Co-Founder, Director 1800 AVENUE OF THE STARS, SUITE 1400, LOS ANGELES /s/ Naseem Sagati Aghili, by power of attorney 19 May 2025 0001025976

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARES Class A Common Stock Sale $5,588,735 -33,142 -27% $168.63 91,858 15 May 2025 By Trently Holdings, LLC F1, F2, F3
transaction ARES Class A Common Stock Sale $2,330,086 -13,729 -15% $169.72 78,129 15 May 2025 By Trently Holdings, LLC F1, F4
transaction ARES Class A Common Stock Sale $2,382,192 -13,980 -18% $170.40 64,149 15 May 2025 By Trently Holdings, LLC F1, F5
transaction ARES Class A Common Stock Sale $188,749 -1,100 -1.7% $171.59 63,049 15 May 2025 By Trently Holdings, LLC F1, F6
transaction ARES Class A Common Stock Sale $95,065 -549 -0.87% $173.16 62,500 15 May 2025 By Trently Holdings, LLC F1, F7
holding ARES Class A Common Stock 1,025,052 15 May 2025 By Ares Owners Holdings L.P. F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

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).

Explanation of Responses:

Id Content
F1 This transaction was effected pursuant to a 10b5-1 trading plan adopted on February 13, 2025 by the reporting person, or a vehicle controlled by him.
F2 The price reported in Column 4 is a weighted average price. These shares were sold on May 15, 2025 in multiple transactions at prices ranging from $168.10 to $169.09. 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 4, 5, 6 and 7.
F3 The shares of Class A Common Stock reported as sold and the number of shares owned after such sale includes 125,000 shares of Class A Common Stock previously reported as indirectly held by the reporting person through Ares Owners Holdings L.P. ("AOH"), which shares were transferred to the reporting person or a vehicle controlled by him.
F4 The price reported in Column 4 is a weighted average price. These shares were sold on May 15, 2025 in multiple transactions at prices ranging from $169.10 to $170.09.
F5 The price reported in Column 4 is a weighted average price. These shares were sold on May 15, 2025 in multiple transactions at prices ranging from $170.10 to $171.00.
F6 The price reported in Column 4 is a weighted average price. These shares were sold on May 15, 2025 in multiple transactions at prices ranging from $171.17 to $171.92.
F7 The price reported in Column 4 is a weighted average price. These shares were sold on May 15, 2025 in multiple transactions at prices ranging from $173.12 to $173.21.
F8 The reporting person or a vehicle controlled by him is a limited partner in 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.