SEC Form 4 · accession 0001104659-18-049245
Ares Management Corp · ARES
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael J Arougheti
Officer — Co-Founder, CEO & President · Director
Period of report
Jul 31, 2018
Accepted (ET)
Aug 2, 2018 · 5:29 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001176948
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common SharesF1 | Jul 31, 2018 | A | 666,666 | $0.00 | A | 666,666 | D | |
| Common SharesF2 | holding | — | — | — | 3,355,052 | I | By Ares Owners Holdings L.P. |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted UnitsF3 | — | Jul 31, 2018 | A | 1,333,334 | A | — | Jul 31, 2028 | Common Shares | 1,333,334 | 1,333,334 | D |
Explanation of responses
- F1Represents a grant of 666,666 restricted units granted on July 31, 2018 pursuant to the Ares Management, L.P. 2014 Equity Incentive Plan, each of which represents the right to receive one Common Share upon vesting. The restricted units will vest in four equal installments on January 1, 2020, 2021, 2022 and 2023, generally subject to the reporting person's continued service through each vesting date.
- F2The reporting person or a vehicle controlled by him is a limited partner in Ares Owners Holdings L.P. ("AOH"), the direct holder of the Common Shares. The Common Shares indirectly held by the reporting person or the vehicle are the number of Common Shares that he or the vehicle has a right to receive as a limited partner in AOH.
- F3The restricted units were granted on July 31, 2018 pursuant to the Ares Management, L.P. 2014 Equity Incentive Plan, each of which represents the right to receive one Common Share upon vesting. The restricted units are subject to market price-based vesting conditions as follows: (i) 666,667 units will vest if, over all trading days that occur during any 30 consecutive calendar day period on or prior to January 1, 2028, the volume-weighted average price per Common Share is at least $35.00 and (ii) 666,667 units will vest if, over all trading days that occur during any 30 consecutive calendar day period on or prior to January 1, 2028, the volume-weighted average price per Common Share is at least $45.00, in each case generally subject to the reporting person's continued service through the applicable vesting date.