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Filing Details

Accession Number:: 0001628280-21-011261
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2021-05-27 20:47:40
Reporting Period:: 2021-05-25

Accepted Time:: 2021-05-27 20:47:40
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1176948	Ares Management Corp	ARES	Investment Advice (6282)	954656677

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1576312	Kipp R. Deveer	2000 Avenue Of The Stars 12Th Floor Los Angeles CA 90067	Head Of Credit Group	Yes	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Class A Common Stock	Acquisiton	2021-05-25	42,274	$19.00	922,500	No	4	M	Direct
Class A Common Stock	Disposition	2021-05-25	29,401	$54.44	893,099	No	4	F	Direct
Class A Common Stock	Disposition	2021-05-26	126,787	$54.62	766,312	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	F	Direct
No	4	S	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Class A Common Stock	Options (Right to Buy)	Disposition	2021-05-25	42,274	$19.00	42,274	$19.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
84,546		2024-04-30	No	4	M	Direct

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Class A Common Stock	Restricted Units	$0.00		2029-01-22	300,000	300,000	Direct
Class A Common Stock	Ares Operating Group Units	$0.00			1,810,409	1,810,409	Indirect

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2029-01-22	300,000	300,000	Direct
	1,810,409	1,810,409	Indirect

Footnotes

Includes 663,614 restricted units granted under the Ares Management Corporation Third Amended and Restated Equity Incentive Plan (the "Equity Incentive Plan"). These restricted units vest in installments in accordance with the applicable restricted unit award agreement.
The price reported in Column 4 is a weighted average price. These shares were sold on May 26, 2021 in multiple transactions at prices ranging from $54.50 to $54.90. 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.
The options are fully vested as of May 1, 2019.
The restricted units were granted on January 22, 2021 pursuant to the Equity Incentive Plan, each of which represents the right to receive one share of Class A Common Stock upon vesting. The restricted units are subject to market price-based vesting conditions as follows: (i) 100,000 units will vest if, over all trading days that occur during any 30 consecutive calendar day period on or prior to January 22, 2029, the volume-weighted average price per share of Class A Common Stock is at least $60.00; (ii) 100,000 units will vest if, over all trading days that occur during any 30 consecutive calendar day period on or prior to January 22, 2029, the volume-weighted average price per share of Class A Common Stock is at least $65.00; (Continued in footnote 5)
and (iii) 100,000 units will vest if, over all trading days that occur during any 30 consecutive calendar day period on or prior to January 22, 2029, the volume-weighted average price per share of Class A Common Stock is at least $75.00, in each case generally subject to the reporting person's continued service through the applicable vesting date
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.
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.