Ares Management insider activity
What the executives and directors of Ares Management actually did with their own shares, decoded from their SEC Form 4 filings. Each figure says the stretch of time it covers.
−$93M
net open-market flow, 12 m
2 open-market buys, 12 m
100%
of sale value on 10b5-1 plans, 12 m
213 days since an insider bought, whole record
The tape: three years of insider trades
Open-market buy
Discretionary sale
Planned sale (10b5-1)
Reported-price path
Routine
Every marker sits at the price reported on the Form 4. The line is the monthly median of all prices insiders reported, so the chart needs no market feed; the grey strip is the routine flow (grants, vestings, tax withholding and gifts) that a headline gets wrong by counting it as selling.
The 62 routine events on the chart, as a list
| Date | Insider | Shares |
|---|---|---|
| Aug 20, 2026 | Jacobson Blair | 8,000 |
| Jul 30, 2026 | BUSH ANTOINETTE COOK | 1,728 |
| Jul 30, 2026 | BHUTANI ASHISH | 1,728 |
| Jul 30, 2026 | Naughton Eileen | 1,728 |
| Jul 30, 2026 | Joubert Paul G. | 1,728 |
| Jul 30, 2026 | Olian Judy D. | 1,728 |
| Jul 30, 2026 | Lynton Michael | 1,728 |
| Jul 1, 2026 | Phillips Jarrod | 2,583 |
| Jun 30, 2026 | Arougheti Michael J | 83K |
| Jun 30, 2026 | deVeer R. Kipp | 83K |
| Jun 3, 2026 | Jacobson Blair | 8,000 |
| Jan 31, 2026 | Arougheti Michael J | 352K |
| Jan 31, 2026 | deVeer R. Kipp | 301K |
| Jan 31, 2026 | Jacobson Blair | 347K |
| Jan 31, 2026 | Sagati Aghili Naseem | 124K |
| Jan 31, 2026 | Phillips Jarrod | 116K |
| Jan 20, 2026 | Jacobson Blair | 2,093 |
| Jan 20, 2026 | Sagati Aghili Naseem | 3,801 |
| Jan 20, 2026 | Phillips Jarrod | 4,395 |
| Dec 16, 2025 | KAPLAN DAVID B | 40K |
| Dec 16, 2025 | Rosenthal Bennett | 15K |
| Dec 9, 2025 | Sagati Aghili Naseem | 500 |
| Aug 12, 2025 | RESSLER ANTONY P | 700K |
| Aug 11, 2025 | Jacobson Blair | 8,000 |
| Jul 31, 2025 | BUSH ANTOINETTE COOK | 1,166 |
| Jul 31, 2025 | BHUTANI ASHISH | 1,166 |
| Jul 31, 2025 | Naughton Eileen | 1,166 |
| Jul 31, 2025 | Joubert Paul G. | 1,166 |
| Jul 31, 2025 | Olian Judy D. | 1,166 |
| Jul 31, 2025 | Lynton Michael | 1,166 |
| Jul 1, 2025 | Phillips Jarrod | 2,583 |
| Feb 14, 2025 | Jacobson Blair | 8,000 |
| Jan 31, 2025 | Arougheti Michael J | 364K |
| Jan 31, 2025 | Berry Ryan | 58K |
| Jan 31, 2025 | deVeer R. Kipp | 346K |
| Jan 31, 2025 | Sagati Aghili Naseem | 45K |
| Jan 31, 2025 | Phillips Jarrod | 78K |
| Jan 20, 2025 | Berry Ryan | 1,473 |
| Jan 20, 2025 | Sagati Aghili Naseem | 3,031 |
| Jan 20, 2025 | Phillips Jarrod | 3,779 |
| Dec 12, 2024 | Olian Judy D. | 397 |
| Nov 13, 2024 | KAPLAN DAVID B | 30K |
| Nov 13, 2024 | Rosenthal Bennett | 29K |
| Nov 8, 2024 | RESSLER ANTONY P | 300K |
| Nov 1, 2024 | Berry Ryan | 31K |
| Aug 1, 2024 | BUSH ANTOINETTE COOK | 1,173 |
| Aug 1, 2024 | BHUTANI ASHISH | 1,173 |
| Aug 1, 2024 | Naughton Eileen | 1,173 |
| Aug 1, 2024 | Joubert Paul G. | 1,173 |
| Aug 1, 2024 | Olian Judy D. | 1,173 |
| Aug 1, 2024 | Lynton Michael | 1,173 |
| Jul 1, 2024 | Phillips Jarrod | 2,583 |
| May 28, 2024 | RESSLER ANTONY P | 749K |
| Jan 31, 2024 | Arougheti Michael J | 775K |
| Jan 31, 2024 | Berry Ryan | 62K |
| Jan 31, 2024 | deVeer R. Kipp | 682K |
| Jan 31, 2024 | Sagati Aghili Naseem | 65K |
| Jan 31, 2024 | Phillips Jarrod | 75K |
| Jan 20, 2024 | Berry Ryan | 5,120 |
| Jan 20, 2024 | Sagati Aghili Naseem | 4,243 |
Where the shares went, last 12 months
Every Form 4 movement decomposed: what flowed in (grants, vested equity, purchases) and what flowed out (tax withholding, plan sales, discretionary sales, gifts). Counted in shares, because grants carry no price.
The chart, in numbers
| Flow | Shares |
|---|---|
| Granted | 916K |
| Vested / exercised | 590K |
| Bought on market | 10K |
| Withheld for tax | 514K |
| Planned sales (10b5-1) | 617K |
| Gifts | 72K |
| Kept | 314K |
Skin in the game
Directly held shares as reported after each trade, indexed to 100 at the start of the window, up to five years back. Direct holdings only: trust and family-entity positions are per-entity in the filings and do not sum honestly, so this chart refuses to guess. The steps are the trades.
The chart, in numbers
| Insider | Start of the window | Latest reported | Indexed, start = 100 |
|---|---|---|---|
| Arougheti Michael J | 1.5M | 1.4M | 92.2 |
| deVeer R. Kipp | 1.2M | 1.2M | 96.9 |
| Jacobson Blair | 868K | 1.1M | 126.1 |
Who holds what
the 14 largest holdings of 15| Insider | Role | Shares held | Buys 12 m | Sales 12 m | 12 m | Last trade |
|---|---|---|---|---|---|---|
| Arougheti Michael J Co-Founder and CEO Last trade Dec 1, 2025 | CEO | 1.4M | – | $91M | net selling over the year: 0 months buying, 2 months selling | Dec 1, 2025 |
| deVeer R. Kipp Co-President Last trade Feb 6, 2025 | Officer | 1.2M | – | – | Feb 6, 2025 | |
| Jacobson Blair Co-President | Officer | 1.1M | – | – | – | |
| Rosenthal Bennett Co-Founder & Chairman of PEG Last trade Jun 12, 2025 | Officer | 1.1M | – | – | Jun 12, 2025 | |
| KAPLAN DAVID B Co-Founder Last trade May 30, 2025 | Officer | 985K | – | – | May 30, 2025 | |
| Sagati Aghili Naseem General Counsel Last trade Feb 4, 2026 | Officer | 331K | – | $4.1M | net selling over the year: 0 months buying, 3 months selling | Feb 4, 2026 |
| Phillips Jarrod Chief Financial Officer | CFO | 325K | – | – | – | |
| Berry Ryan Chief Mktg. & Strategy Officer Last trade Dec 11, 2024 | Officer | 240K | – | – | Dec 11, 2024 | |
| RESSLER ANTONY P Co-Founder & Exec. Chairman Last trade Sep 10, 2025 | Officer | 128K | – | – | Sep 10, 2025 | |
| Joubert Paul G. Last trade Jun 11, 2014 | Director | 44K | – | – | Jun 11, 2014 | |
| BHUTANI ASHISH Last trade Feb 6, 2026 | Director | 36K | $1.3M | – | net buying over the year: 1 month buying, 0 months selling | Feb 6, 2026 |
| Lynton Michael | Director | 34K | – | – | – | |
| Olian Judy D. Last trade Feb 20, 2026 | Director | 31K | $60K | – | net buying over the year: 1 month buying, 0 months selling | Feb 20, 2026 |
| BUSH ANTOINETTE COOK Last trade May 12, 2023 | Director | 24K | – | – | May 12, 2023 |
Open-market trade log
the 60 most recent of 1,110| Date | Insider | Type | Shares | Price | Value | Since trade | Filed |
|---|---|---|---|---|---|---|---|
| Feb 20, 2026 | Olian Judy D. (Director) 480 shares $124.43 +5.8% since trade filed Feb 24, 2026 | Open-market buy | 480 | $124.43 | $60K | +5.8% | Feb 24, 2026 |
| Feb 6, 2026 | BHUTANI ASHISH (Director) 10K shares $126.61 +4.0% since trade filed Feb 10, 2026 | Open-market buy | 10K | $126.61 | $1.3M | +4.0% | Feb 10, 2026 |
| Feb 4, 2026 | Sagati Aghili Naseem (Officer) 100 shares $131.61 +0.0% since trade filed Feb 6, 2026 | Planned sale (10b5-1) | 100 | $131.61 | $13K | +0.0% | Feb 6, 2026 |
| Feb 4, 2026 | Sagati Aghili Naseem (Officer) 300 shares $126.68 +3.9% since trade filed Feb 6, 2026 | Planned sale (10b5-1) | 300 | $126.68 | $38K | +3.9% | Feb 6, 2026 |
| Feb 4, 2026 | Sagati Aghili Naseem (Officer) 300 shares $128.98 +2.0% since trade filed Feb 6, 2026 | Planned sale (10b5-1) | 300 | $128.98 | $39K | +2.0% | Feb 6, 2026 |
| Feb 4, 2026 | Sagati Aghili Naseem (Officer) 300 shares $134.00 −1.8% since trade filed Feb 6, 2026 | Planned sale (10b5-1) | 300 | $134.00 | $40K | −1.8% | Feb 6, 2026 |
| Feb 4, 2026 | Sagati Aghili Naseem (Officer) 611 shares $136.74 −3.8% since trade filed Feb 6, 2026 | Planned sale (10b5-1) | 611 | $136.74 | $84K | −3.8% | Feb 6, 2026 |
| Feb 4, 2026 | Sagati Aghili Naseem (Officer) 1,110 shares $135.28 −2.7% since trade filed Feb 6, 2026 | Planned sale (10b5-1) | 1,110 | $135.28 | $150K | −2.7% | Feb 6, 2026 |
| Feb 4, 2026 | Sagati Aghili Naseem (Officer) 1,200 shares $137.72 −4.4% since trade filed Feb 6, 2026 | Planned sale (10b5-1) | 1,200 | $137.72 | $165K | −4.4% | Feb 6, 2026 |
| Jan 22, 2026 | Sagati Aghili Naseem (Officer) 200 shares $163.94 −19.7% since trade filed Jan 26, 2026 | Planned sale (10b5-1) | 200 | $163.94 | $33K | −19.7% | Jan 26, 2026 |
| Jan 22, 2026 | Sagati Aghili Naseem (Officer) 400 shares $162.28 −18.9% since trade filed Jan 26, 2026 | Planned sale (10b5-1) | 400 | $162.28 | $65K | −18.9% | Jan 26, 2026 |
| Jan 22, 2026 | Sagati Aghili Naseem (Officer) 1,249 shares $161.36 −18.4% since trade filed Jan 26, 2026 | Planned sale (10b5-1) | 1,249 | $161.36 | $202K | −18.4% | Jan 26, 2026 |
| Dec 1, 2025 | Arougheti Michael J (CEO) 909 shares $158.95 −17.2% since trade filed Dec 1, 2025 | Planned sale (10b5-1) | 909 | $158.95 | $144K | −17.2% | Dec 1, 2025 |
| Dec 1, 2025 | Arougheti Michael J (CEO) 1,878 shares $153.50 −14.3% since trade filed Dec 1, 2025 | Planned sale (10b5-1) | 1,878 | $153.50 | $288K | −14.3% | Dec 1, 2025 |
| Dec 1, 2025 | Arougheti Michael J (CEO) 2,737 shares $154.35 −14.7% since trade filed Dec 1, 2025 | Planned sale (10b5-1) | 2,737 | $154.35 | $422K | −14.7% | Dec 1, 2025 |
| Dec 1, 2025 | Arougheti Michael J (CEO) 5,400 shares $155.62 −15.4% since trade filed Dec 1, 2025 | Planned sale (10b5-1) | 5,400 | $155.62 | $840K | −15.4% | Dec 1, 2025 |
| Dec 1, 2025 | Arougheti Michael J (CEO) 14K shares $158.08 −16.7% since trade filed Dec 1, 2025 | Planned sale (10b5-1) | 14K | $158.08 | $2.2M | −16.7% | Dec 1, 2025 |
| Dec 1, 2025 | Arougheti Michael J (CEO) 31K shares $157.61 −16.5% since trade filed Dec 1, 2025 | Planned sale (10b5-1) | 31K | $157.61 | $4.9M | −16.5% | Dec 1, 2025 |
| Nov 28, 2025 | Arougheti Michael J (CEO) 13K shares $154.95 −15.1% since trade filed Dec 1, 2025 | Planned sale (10b5-1) | 13K | $154.95 | $2.1M | −15.1% | Dec 1, 2025 |
| Nov 28, 2025 | Arougheti Michael J (CEO) 32K shares $155.81 −15.5% since trade filed Dec 1, 2025 | Planned sale (10b5-1) | 32K | $155.81 | $4.9M | −15.5% | Dec 1, 2025 |
| Nov 28, 2025 | Arougheti Michael J (CEO) 53K shares $156.66 −16.0% since trade filed Dec 1, 2025 | Planned sale (10b5-1) | 53K | $156.66 | $8.4M | −16.0% | Dec 1, 2025 |
| Nov 26, 2025 | Arougheti Michael J (CEO) 767 shares $155.16 −15.2% since trade filed Dec 1, 2025 | Planned sale (10b5-1) | 767 | $155.16 | $119K | −15.2% | Dec 1, 2025 |
| Nov 26, 2025 | Arougheti Michael J (CEO) 1,499 shares $152.83 −13.9% since trade filed Dec 1, 2025 | Planned sale (10b5-1) | 1,499 | $152.83 | $229K | −13.9% | Dec 1, 2025 |
| Nov 26, 2025 | Arougheti Michael J (CEO) 19K shares $153.87 −14.5% since trade filed Dec 1, 2025 | Planned sale (10b5-1) | 19K | $153.87 | $3.0M | −14.5% | Dec 1, 2025 |
| Nov 26, 2025 | Arougheti Michael J (CEO) 114K shares $154.60 −14.9% since trade filed Dec 1, 2025 | Planned sale (10b5-1) | 114K | $154.60 | $18M | −14.9% | Dec 1, 2025 |
| Nov 25, 2025 | Arougheti Michael J (CEO) 5,811 shares $150.53 −12.6% since trade filed Nov 25, 2025 | Planned sale (10b5-1) | 5,811 | $150.53 | $875K | −12.6% | Nov 25, 2025 |
| Nov 25, 2025 | Arougheti Michael J (CEO) 15K shares $151.66 −13.2% since trade filed Nov 25, 2025 | Planned sale (10b5-1) | 15K | $151.66 | $2.2M | −13.2% | Nov 25, 2025 |
| Nov 25, 2025 | Arougheti Michael J (CEO) 49K shares $153.29 −14.1% since trade filed Nov 25, 2025 | Planned sale (10b5-1) | 49K | $153.29 | $7.5M | −14.1% | Nov 25, 2025 |
| Nov 25, 2025 | Arougheti Michael J (CEO) 117K shares $152.78 −13.9% since trade filed Nov 25, 2025 | Planned sale (10b5-1) | 117K | $152.78 | $18M | −13.9% | Nov 25, 2025 |
| Nov 24, 2025 | Arougheti Michael J (CEO) 113K shares $150.15 −12.4% since trade filed Nov 25, 2025 | Planned sale (10b5-1) | 113K | $150.15 | $17M | −12.4% | Nov 25, 2025 |
| Oct 1, 2025 | Sagati Aghili Naseem (Officer) 100 shares $158.12 −16.8% since trade filed Oct 3, 2025 | Planned sale (10b5-1) | 100 | $158.12 | $16K | −16.8% | Oct 3, 2025 |
| Oct 1, 2025 | Sagati Aghili Naseem (Officer) 2,803 shares $157.36 −16.4% since trade filed Oct 3, 2025 | Planned sale (10b5-1) | 2,803 | $157.36 | $441K | −16.4% | Oct 3, 2025 |
| Oct 1, 2025 | Sagati Aghili Naseem (Officer) 3,218 shares $155.64 −15.4% since trade filed Oct 3, 2025 | Planned sale (10b5-1) | 3,218 | $155.64 | $501K | −15.4% | Oct 3, 2025 |
| Oct 1, 2025 | Sagati Aghili Naseem (Officer) 4,971 shares $154.34 −14.7% since trade filed Oct 3, 2025 | Planned sale (10b5-1) | 4,971 | $154.34 | $767K | −14.7% | Oct 3, 2025 |
| Oct 1, 2025 | Sagati Aghili Naseem (Officer) 9,908 shares $156.48 −15.9% since trade filed Oct 3, 2025 | Planned sale (10b5-1) | 9,908 | $156.48 | $1.6M | −15.9% | Oct 3, 2025 |
| Sep 10, 2025 | RESSLER ANTONY P (Officer) 1,200 shares $176.15 −25.3% since trade filed Sep 12, 2025 | Planned sale (10b5-1) | 1,200 | $176.15 | $211K | −25.3% | Sep 12, 2025 |
| Sep 10, 2025 | RESSLER ANTONY P (Officer) 14K shares $179.44 −26.7% since trade filed Sep 12, 2025 | Planned sale (10b5-1) | 14K | $179.44 | $2.5M | −26.7% | Sep 12, 2025 |
| Sep 10, 2025 | RESSLER ANTONY P (Officer) 49K shares $177.79 −26.0% since trade filed Sep 12, 2025 | Planned sale (10b5-1) | 49K | $177.79 | $8.8M | −26.0% | Sep 12, 2025 |
| Sep 10, 2025 | RESSLER ANTONY P (Officer) 65K shares $178.49 −26.3% since trade filed Sep 12, 2025 | Planned sale (10b5-1) | 65K | $178.49 | $12M | −26.3% | Sep 12, 2025 |
| Sep 10, 2025 | Sagati Aghili Naseem (Officer) 300 shares $176.23 −25.3% since trade filed Sep 12, 2025 | Planned sale (10b5-1) | 300 | $176.23 | $53K | −25.3% | Sep 12, 2025 |
| Sep 10, 2025 | Sagati Aghili Naseem (Officer) 1,132 shares $179.42 −26.7% since trade filed Sep 12, 2025 | Planned sale (10b5-1) | 1,132 | $179.42 | $203K | −26.7% | Sep 12, 2025 |
| Sep 10, 2025 | Sagati Aghili Naseem (Officer) 6,515 shares $177.95 −26.0% since trade filed Sep 12, 2025 | Planned sale (10b5-1) | 6,515 | $177.95 | $1.2M | −26.0% | Sep 12, 2025 |
| Sep 10, 2025 | Sagati Aghili Naseem (Officer) 13K shares $178.58 −26.3% since trade filed Sep 12, 2025 | Planned sale (10b5-1) | 13K | $178.58 | $2.3M | −26.3% | Sep 12, 2025 |
| Sep 9, 2025 | RESSLER ANTONY P (Officer) 18K shares $176.27 −25.3% since trade filed Sep 9, 2025 | Planned sale (10b5-1) | 18K | $176.27 | $3.1M | −25.3% | Sep 9, 2025 |
| Sep 9, 2025 | RESSLER ANTONY P (Officer) 84K shares $175.38 −25.0% since trade filed Sep 9, 2025 | Planned sale (10b5-1) | 84K | $175.38 | $15M | −25.0% | Sep 9, 2025 |
| Sep 8, 2025 | RESSLER ANTONY P (Officer) 3,861 shares $177.08 −25.7% since trade filed Sep 9, 2025 | Planned sale (10b5-1) | 3,861 | $177.08 | $684K | −25.7% | Sep 9, 2025 |
| Sep 8, 2025 | RESSLER ANTONY P (Officer) 55K shares $176.25 −25.3% since trade filed Sep 9, 2025 | Planned sale (10b5-1) | 55K | $176.25 | $9.6M | −25.3% | Sep 9, 2025 |
| Sep 8, 2025 | RESSLER ANTONY P (Officer) 112K shares $175.51 −25.0% since trade filed Sep 9, 2025 | Planned sale (10b5-1) | 112K | $175.51 | $20M | −25.0% | Sep 9, 2025 |
| Sep 5, 2025 | RESSLER ANTONY P (Officer) 1,846 shares $181.20 −27.4% since trade filed Sep 5, 2025 | Planned sale (10b5-1) | 1,846 | $181.20 | $334K | −27.4% | Sep 5, 2025 |
| Sep 5, 2025 | RESSLER ANTONY P (Officer) 3,000 shares $178.88 −26.4% since trade filed Sep 5, 2025 | Planned sale (10b5-1) | 3,000 | $178.88 | $537K | −26.4% | Sep 5, 2025 |
| Sep 5, 2025 | RESSLER ANTONY P (Officer) 3,764 shares $180.31 −27.0% since trade filed Sep 5, 2025 | Planned sale (10b5-1) | 3,764 | $180.31 | $679K | −27.0% | Sep 5, 2025 |
| Sep 5, 2025 | RESSLER ANTONY P (Officer) 17K shares $175.67 −25.1% since trade filed Sep 5, 2025 | Planned sale (10b5-1) | 17K | $175.67 | $3.1M | −25.1% | Sep 5, 2025 |
| Sep 5, 2025 | RESSLER ANTONY P (Officer) 56K shares $176.61 −25.5% since trade filed Sep 5, 2025 | Planned sale (10b5-1) | 56K | $176.61 | $9.8M | −25.5% | Sep 5, 2025 |
| Sep 5, 2025 | RESSLER ANTONY P (Officer) 95K shares $177.30 −25.8% since trade filed Sep 5, 2025 | Planned sale (10b5-1) | 95K | $177.30 | $17M | −25.8% | Sep 5, 2025 |
| Sep 4, 2025 | RESSLER ANTONY P (Officer) 11K shares $176.90 −25.6% since trade filed Sep 5, 2025 | Planned sale (10b5-1) | 11K | $176.90 | $2.0M | −25.6% | Sep 5, 2025 |
| Sep 4, 2025 | RESSLER ANTONY P (Officer) 18K shares $178.63 −26.3% since trade filed Sep 5, 2025 | Planned sale (10b5-1) | 18K | $178.63 | $3.3M | −26.3% | Sep 5, 2025 |
| Sep 4, 2025 | RESSLER ANTONY P (Officer) 35K shares $177.64 −25.9% since trade filed Sep 5, 2025 | Planned sale (10b5-1) | 35K | $177.64 | $6.2M | −25.9% | Sep 5, 2025 |
| Sep 4, 2025 | RESSLER ANTONY P (Officer) 97K shares $179.89 −26.8% since trade filed Sep 5, 2025 | Planned sale (10b5-1) | 97K | $179.89 | $18M | −26.8% | Sep 5, 2025 |
| Sep 3, 2025 | RESSLER ANTONY P (Officer) 3,900 shares $179.50 −26.7% since trade filed Sep 5, 2025 | Planned sale (10b5-1) | 3,900 | $179.50 | $700K | −26.7% | Sep 5, 2025 |
| Sep 3, 2025 | RESSLER ANTONY P (Officer) 14K shares $177.68 −25.9% since trade filed Sep 5, 2025 | Planned sale (10b5-1) | 14K | $177.68 | $2.4M | −25.9% | Sep 5, 2025 |
“Since trade” compares with the latest insider-implied price, not a market quote: these pages are built from filings alone. A role here is the one on that day's Form 4, so somebody promoted since appears under both titles.
Filing hygiene
172 Forms 4, 3 years
2 filed late
0 amendments
2.7 avg. days to file
How to read this
A Form 4 transaction code decides everything. P is an open-market purchase and S an open-market sale; those two are the only codes where an insider chose to trade. A is a grant, M an option exercise or vesting, F shares withheld to cover tax, G a gift. Most “insiders dumped billions” headlines are code F and M mechanics.
Sales flagged 10b5-1 run on a plan the insider adopted in advance; since 2023 every Form 4 carries that flag. Buys have historically predicted returns, sales mostly have not, and this page states filings, not advice.