Arougheti Michael J 4

What Happened
Michael J. Arougheti, Co‑Founder, CEO and Director of Ares Management Corporation (ARES), had 82,957 shares of Class A common stock withheld by the issuer on June 30, 2026 to satisfy minimum tax withholding obligations tied to the vesting of restricted units. The shares were valued at $111.31 each, for a total of $9,233,944. This transaction is a withholding to cover taxes (transaction code F), not an open‑market sale for cash to invest or divest.

Key Details

• Transaction date: 2026-06-30; filing accession: 0001304471-26-000006 (filed 2026-07-02).
• Shares withheld/disposed: 82,957 at $111.31 each; total value $9,233,944.
• Transaction code: F (shares withheld by issuer to satisfy tax obligations on vesting restricted units).
• Footnote F1: Shares were withheld by the issuer to satisfy the reporting person’s minimum tax withholding arising from restricted unit vesting; each restricted unit converts to one share on vesting.
• Footnote F2: The reporting person’s holdings include 1,137,500 restricted units granted under the equity incentive plan; those units vest in installments per the award agreement.
• Shares owned after the transaction: not specified in the provided excerpt of the filing.

Context
This was a routine tax‑withholding transaction associated with vested restricted units (a form of equity compensation). Such withholdings are common and reflect tax obligations rather than a voluntary sale for investment purposes. The filing reports the mechanics and value of the withheld shares; it does not by itself indicate the insider’s view on the company’s stock.