Form 4: Ares Co-Founder Gifts 40,000 Shares to Charitable Foundation

Ares Management Corp's Co-Founder, David B. Kaplan, gifted 40,000 shares of Class A Common Stock to a charitable foundation.

Summary

• David B. Kaplan, a Director, Officer (Co-Founder), and 10% Owner of Ares Management Corp (ARES), disposed of 40,000 shares of Class A Common Stock.
• The transaction occurred on December 16, 2025, and was classified as a gift (Transaction Code 'G').
• The shares were gifted to a charitable foundation of which Mr. Kaplan is a trustee, with a transaction price of $0 per share.
• These shares were previously held by Ares Owners Holdings L.P. ('AOH') on behalf of Mr. Kaplan or a vehicle controlled by him.
• Following this transaction, Mr. Kaplan indirectly beneficially owns 985,052 shares of Class A Common Stock through his limited partnership interest in AOH.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While an insider disposed of shares, it was a gift to charity, which is generally viewed favorably. It does not indicate a lack of confidence in the company.

Positives

• The transaction represents a philanthropic act by a key insider, potentially enhancing the company's public image through association with charitable giving.

Negatives

• A reduction in the direct beneficial ownership of Class A Common Stock by a key insider, although the shares were gifted for charitable purposes and indirect ownership remains substantial.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

This insider transaction is a routine disclosure for a publicly traded company and does not directly reflect broader industry trends or competitive dynamics. It is a personal financial decision by a key executive.

Related Party Transactions

• The shares were previously held by Ares Owners Holdings L.P. (AOH), in which the reporting person is a limited partner, indicating an existing related party structure for beneficial ownership.

Stakeholder Impact

• Shareholders: The transaction reduces a key insider's direct beneficial ownership, but the charitable nature may be viewed positively. The overall indirect holding remains significant.
• Charitable Foundation: The recipient foundation benefits from the gifted shares.

Key Dates

Keywords

Ares Management Corp, ARES, David B. Kaplan, Insider Transaction, Form 4, Stock Gift, Beneficial Ownership, Charitable Giving