Ryan Berry - Sep 11, 2021 Form 4 Insider Report for Ares Management Corp (ARES)

Role
Chief Mktg. & Strategy Officer
Signature
/s/ Naseem Sagati Aghili, by power of attorney
Stock symbol
ARES
Transactions as of
Sep 11, 2021
Transactions value $
-$978,416
Form type
4
Date filed
9/14/2021, 08:28 PM
Previous filing
Aug 18, 2021
Next filing
Nov 2, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARES Class A Common Stock Options Exercise +25K +4.04% 644K Sep 11, 2021 Direct F1, F2
transaction ARES Class A Common Stock Tax liability -$978K -12.4K -1.92% $78.93 632K Sep 13, 2021 Direct F2, F3
holding ARES Class A Common Stock 2.7K Sep 11, 2021 By Retirement Savings Plan
holding ARES Class A Common Stock 7.39K Sep 11, 2021 By Spouse's SEP IRA
holding ARES Class A Common Stock 215K Sep 11, 2021 By Reporting Person and Spouse as joint tenants with right of survivorship
holding ARES Class A Common Stock 5K Sep 11, 2021 By IRA

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 Restricted Units Options Exercise $0 -25K -100% $0.00* 0 Sep 11, 2021 Class A Common Stock 25K Direct F4
holding ARES Ares Operating Group Units 46.9K Sep 11, 2021 Class A Common Stock 46.9K Ares Owners Holdings L.P. F5, F6
holding ARES Options (Right to Buy) 423K Sep 11, 2021 Class A Common Stock 423K $19.00 Direct F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects the vesting of 25,000 restricted units granted on January 22, 2021 under the Ares Management Corporation Third Amended and Restated 2014 Equity Incentive Plan (the "Equity Incentive Plan") on September 11, 2021 pursuant to the vesting conditions of such restricted units. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting.
F2 Includes 606,695 restricted units granted under the Equity Incentive Plan. These restricted units vest in installments in accordance with the applicable restricted unit award agreement.
F3 Consists of Class A Common Stock withheld by the Issuer in order to satisfy the minimum tax withholding obligations of the reporting person arising in connection with the vesting of restricted units representing the right to receive one share of Class A Common Stock under the Equity Incentive Plan.
F4 The restricted units are fully vested as of September 11, 2021.
F5 Pursuant to the terms of the Fifth Amended and Restated Exchange Agreement, dated as of April 1, 2021, among Ares Holdco LLC, Ares Holdings L.P., Ares Management Corporation, 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.
F6 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 or the vehicle are the number of AOG units that he or the vehicle has a right to receive as a limited partner in AOH.
F7 The options are fully vested as of May 1, 2019.