Phillips Jarrod 4

What Happened

• Jarrod Phillips, Chief Financial Officer of Ares Management Corporation, was granted 100,000 restricted units (each unit = one share) on 2026-01-31 (award code A). The grant shows an acquisition price of $0.00. On the same date, 15,568 shares were withheld by the issuer to satisfy tax withholding obligations at $149.67 per share, totaling $2,330,063 (disposition code F). The 15,568-share action is issuer withholding to cover taxes, not an open-market sale.

Key Details

• Transaction date: 2026-01-31.
• Grant: 100,000 restricted units @ $0.00 (award).
• Withholding: 15,568 shares withheld @ $149.67 = $2,330,063 (to satisfy tax obligations).
• Vesting schedule (for the 100,000-unit grant per footnote): restrictions lapse in four equal annual installments on Jan 31 of 2028, 2029, 2030 and 2031.
• Other footnotes note additional restricted-unit awards included in reported holdings (counts of 280,003 and 250,003 units) that vest per their agreements.
• Shares owned after the reported transactions: not specified in the provided excerpt.
• Filing: Report filed 2026-02-03 for transactions dated 2026-01-31. No late-filing flag was provided in the excerpt.

Context

• The 100,000-item is a restricted-unit award (not an open-market purchase) and will convert to shares as it vests over several years. The 15,568-share action is routine issuer withholding to cover taxes triggered by vesting of restricted units and should not be interpreted as a directional sale by the insider. Awards and withholding are common compensation mechanics and do not by themselves signal investment intent.