Amendment to Statement of Changes in Beneficial Ownership (Form 4/A)

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * Jacobson Blair 2. Issuer Name and Ticker or Trading Symbol Ares Management Corp [ARES] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Co-President (Last) (First) (Middle) 1800 AVENUE OF THE STARS, SUITE 1400 3. Date of Earliest Transaction (Month/Day/Year) 01/31/2026 (Street) LOS ANGELES, CA 90067 4. If Amendment, Date Original Filed (Month/Day/Year) 02/03/2026 6. Individual or Joint/Group Filing (Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Class A Common Stock 01/31/2026 A 200,000(1)(2) A $ 0 1,058,221(1)(3) D Class A Common Stock 01/31/2026 F 47,000(4) D $149.67 1,011,221(1)(5) D

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Restricted Units(1)

(6)(7)

01/31/2026

A

100,000

(6)(7)

01/31/2034

Class A Common Stock

100,000

$ 0

100,000

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Jacobson Blair 1800 AVENUE OF THE STARS SUITE 1400 LOS ANGELES, CA 90067			Co-President

Signatures

/s/ Anton Feingold, by power of attorney		11/12/2026
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The 300,000 restricted units reported on the original Form 4 filed with the Securities and Exchange Commission on February 3, 2026 (the "Original Form 4") included 100,000 performance-based restricted units that the Issuer's reporting persons have historically reported in Table II. Accordingly, this Statement is being filed to amend the Original Form 4, not to correct any error, but to clarify the reporting person's beneficial ownership and reflect such performance-based restricted units in Table II, consistent with past practice for the Issuer's reporting persons.
(2)	Granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restrictions on such units are scheduled to lapse in four equal installments on January 31, 2028, 2029, 2030 and 2031.
(3)	Includes 621,860 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.
(4)	Consists of Class A Common Stock withheld by the Issuer in order to satisfy the minimum tax withholding obligations of the reporting person arising in connection with the vesting of restricted units representing the right to receive one share of Class A Common Stock under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting.
(5)	Includes 521,860 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.
(6)	The restricted units were granted on January 31, 2026 pursuant to an equity incentive plan of Ares Management Corporation, each of which represents the right to receive one share of Class A Common Stock upon vesting. The restricted units are subject to market price-based vesting conditions as follows: (i) 33,334 units will vest if, over all trading days that occur during any 30 consecutive calendar day period on or prior to January 31, 2034, the volume-weighted average price per share of Class A Common Stock is at least $191.67; (Continued in footnote 7)
(7)	(ii) 33,333 units will vest if, over all trading days that occur during any 30 consecutive calendar day period on or prior to January 31, 2034, the volume-weighted average price per share of Class A Common Stock is at least $221.67; and (iii) 33,333 units will vest if, over all trading days that occur during any 30 consecutive calendar day period on or prior to January 31, 2034, the volume-weighted average price per share of Class A Common Stock is at least $251.67, in each case generally subject to the reporting person's continued service through the applicable vesting date.

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