Form 4: Ares Management GC Sells Shares Under 10b5-1 Plan

Ares Management General Counsel Naseem Sagati Aghili sold 3,921 shares of Class A Common Stock on February 4, 2026, under a pre-arranged 10b5-1 trading plan.

Summary

• Naseem Sagati Aghili, General Counsel of Ares Management Corp, reported the sale of 3,921 shares of Class A Common Stock.
• The transactions occurred on February 4, 2026, and were executed pursuant to a Rule 10b5-1 trading plan adopted on June 11, 2025.
• The shares were sold in multiple transactions at weighted average prices ranging from $126.68 to $137.72 per share.
• Following these transactions, Naseem Sagati Aghili beneficially owns 326,889 shares of Class A Common Stock, which includes 204,872 restricted units that vest in installments.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. While it represents insider selling, the execution under a pre-arranged 10b5-1 plan mitigates any negative sentiment typically associated with unplanned insider sales, suggesting a routine financial management decision.

Positives

• The transaction was conducted under a pre-arranged 10b5-1 trading plan, indicating a planned and transparent approach to managing personal equity holdings rather than a reaction to new, undisclosed information.

Negatives

• The sale by a General Counsel reduces the overall insider ownership in Ares Management Corp, which some investors may view as a slight reduction in management's direct alignment with shareholder interests.

Risks

• No specific risks were mentioned in the filing beyond the general implications of insider selling, which can sometimes be misinterpreted by the market if not understood as part of a pre-planned strategy.

Future Outlook

No forward-looking statements or guidance were provided in this filing.

Industry Context

StockSavvy.ai notes that the use of Rule 10b5-1 trading plans is a standard practice among corporate executives to facilitate the orderly sale of company stock over time. These plans allow insiders to diversify their holdings and manage liquidity needs while avoiding accusations of trading on material non-public information, as the plan is established when the insider is not in possession of such information.

Stakeholder Impact

• Shareholders: The sale reduces the General Counsel's direct equity stake, which could be perceived as a minor reduction in alignment, though the pre-planned nature lessens its significance.

Key Dates

Recommendation

The insider sale was conducted under a pre-arranged 10b5-1 plan, indicating a planned diversification or liquidity event rather than a reaction to new material information. While it reduces insider ownership, it does not suggest a fundamental change in the company's prospects, thus a 'hold' recommendation is appropriate.

Keywords

Ares Management, ARES, Form 4, insider trading, 10b5-1 plan, stock sale, General Counsel, equity, beneficial ownership