Arougheti Michael J 4

What Happened
Michael J. Arougheti, co‑founder, CEO and a director of Ares Management Corporation (ARES), received a grant of 200,000 restricted units on 2026-01-31 (reported as acquisition code A, $0.00 per unit). Concurrently, 152,495 shares were disposed (code F) by the issuer withholding those shares to satisfy the reporting person’s tax withholding obligation at $149.67 per share, totaling $22,823,927. The restricted units vest over time and are not an open‑market sale.

Key Details

• Transaction date: 2026-01-31; Form 4 filed 2026-02-03 (timely given the transaction date fell on a weekend).
• Grant: 200,000 restricted units (acquired at $0.00); restrictions scheduled to lapse in three equal installments on June 30, 2027, 2028 and 2029 (footnote F1).
• Withholding: 152,495 shares withheld by the issuer to satisfy minimum tax withholding obligations related to restricted units; sale price used for withholding: $149.67/share; cash value: $22,823,927 (footnote F3).
• Shares owned after the reported transactions: not specified in this filing.
• Other related footnotes reference additional outstanding restricted unit grants: 1,600,000 RU (F2) and 1,300,000 RU (F4) that vest in installments per award agreements.

Context

• These transactions reflect an equity award grant and a tax‑withholding disposition (issuer withheld shares to cover taxes), not an open‑market sale by the insider.
• Restricted units represent rights to receive Class A common stock upon vesting; vesting schedules and withholding are routine administrative matters tied to compensation.
• No 10b5‑1 plan, gift, or option exercise was indicated in this filing; the withholding (code F) is a standard tax‑related disposition.