Michael J. Arougheti - Nov 15, 2023 Form 4 Insider Report for Ares Management Corp (ARES)

Signature
/s/ Naseem Sagati Aghili, by power of attorney
Stock symbol
ARES
Transactions as of
Nov 15, 2023
Transactions value $
-$15,775,104
Form type
4
Date filed
11/16/2023, 08:41 PM
Previous filing
Aug 17, 2023
Next filing
Feb 2, 2024

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 +150K $0.00 150K Nov 15, 2023 By Atticus Enterprises LLC
transaction ARES Class A Common Stock Sale -$6.96M -66.9K -44.59% $104.07 83.1K Nov 15, 2023 By Atticus Enterprises LLC F1, F2
transaction ARES Class A Common Stock Sale -$4.19M -39.8K -47.93% $105.07 43.3K Nov 15, 2023 By Atticus Enterprises LLC F1, F3
transaction ARES Class A Common Stock Sale -$2.41M -22.7K -52.44% $106.22 20.6K Nov 15, 2023 By Atticus Enterprises LLC F1, F4
transaction ARES Class A Common Stock Sale -$1.16M -10.8K -52.33% $107.31 9.81K Nov 15, 2023 By Atticus Enterprises LLC F1, F5
transaction ARES Class A Common Stock Sale -$723K -6.7K -68.29% $107.88 3.11K Nov 15, 2023 By Atticus Enterprises LLC F1, F6
transaction ARES Class A Common Stock Sale -$339K -3.11K -100% $109.07 0 Nov 15, 2023 By Atticus Enterprises LLC F1, F7
holding ARES Class A Common Stock 825K Nov 15, 2023 Direct F8

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 -150K -1.49% 9.95M Nov 15, 2023 Class A Common Stock 150K By Ares Owners Holdings L.P. F9, F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This transaction was effected pursuant to a 10b5-1 trading plan adopted on February 22, 2023 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 November 15, 2023 in multiple transactions at prices ranging from $103.73 to $104.72. 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 range set forth in this footnote and footnotes 3, 4, 5, 6 and 7.
F3 The price reported in Column 4 is a weighted average price. These shares were sold on November 15, 2023 in multiple transactions at prices ranging from $104.73 to $105.72.
F4 The price reported in Column 4 is a weighted average price. These shares were sold on November 15, 2023 in multiple transactions at prices ranging from $105.73 to $106.72.
F5 The price reported in Column 4 is a weighted average price. These shares were sold on November 15, 2023 in multiple transactions at prices ranging from $106.73 to $107.72.
F6 The price reported in Column 4 is a weighted average price. These shares were sold on November 15, 2023 in multiple transactions at prices ranging from $107.73 to $108.60.
F7 The price reported in Column 4 is a weighted average price. These shares were sold on November 15, 2023 in multiple transactions at prices ranging from $108.82 to $109.30.
F8 Represents 825,000 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.
F9 Pursuant to the terms of the Fifth Amended and Restated Exchange Agreement, dated as of April 1, 2021, 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.
F10 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.