Sec Form 4 Filing - deVeer R. Kipp @ Ares Management Corp - 2019-06-25

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person deVeer R. Kipp 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) Partner (Last) (First) (Middle) 2000 AVENUE OF THE STARS, 12TH FLOOR 3. Date of Earliest Transaction (MM/DD/YY) 06/25/2019 (Street) LOS ANGELES, CA90067 4. If Amendment, Date Original Filed (MM/DD/YY) 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 (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 06/25/2019 S( 1 ) 51,905 D $ 26.26 ( 2 ) 1,021,410 ( 3 ) ( 4 ) ( 5 ) D Class A Common Stock 06/25/2019 S( 6 ) 700 D $ 26.96 ( 7 ) 1,020,710 ( 3 ) ( 4 ) ( 5 ) D Class A Common Stock 06/26/2019 S( 8 ) 37,981 D $ 25.84 ( 9 ) 982,729 ( 3 ) ( 4 ) ( 5 ) D Class A Common Stock 06/27/2019 S( 10 ) 41,991 D $ 26.06 ( 11 ) 940,738 ( 3 ) ( 4 ) ( 5 ) D Class A Common Stock 74,866 I By Ares Owners Holdings L.P. ( 12 )

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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 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

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other deVeer R. Kipp 2000 AVENUE OF THE STARS 12TH FLOOR LOS ANGELES, CA90067 Partner Signatures /s/ Naseem Sagati Aghili 06/27/2019 Signature of Reporting Person Date

Explanation of Responses:

( 1 )This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person. ( 2 )The price reported in Column 4 is a weighted average price. These shares were sold on June 25, 2019 in multiple transactions at prices ranging from $25.78 to $26.74, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. ( 3 )Includes a grant of 100,000 restricted units granted on January 31, 2019, each of which 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, 2021, 2022, 2023 and 2024. Also includes a grant of 750,000 restricted units, each of which 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 1, 2019, 2020, 2021 and 2022. In connection with the vesting on January 1, 2019, the reporting person received 95,786 shares of Class A Common Stock, with the remaining 91,714 shares of Class A Common Stock withheld to cover taxes on this transaction. Also includes a grant of 100,000 restricted units, each of which represents the right to receive one share of Class A Common Stock upon vesting. (Continued in Footnote 4) ( 4 )The restrictions on such units are scheduled to lapse on August 15, 2021. Also includes a grant of 28,947 restricted units, each of which represents the right to receive one share of Class A Common Stock upon vesting. The restrictions on such units are scheduled to lapse in three equal installments on May 1, 2017, 2018 and 2019. In connection with the vesting on May 1, 2017, the reporting person received 4,673 shares of Class A Common Stock, with the remaining 4,976 shares of Class A Common Stock withheld to cover taxes on this transaction. In connection with the vesting on May 1, 2018, the reporting person received 4,513 shares of Class A Common Stock, with the remaining 5,136 shares of Class A Common Stock withheld to cover taxes on this transaction. (Continued in Footnote 5) ( 5 )In connection with the vesting on May 1, 2019, the reporting person received 4,513 shares of Class A Common Stock, with the remaining 5,136 shares of Class A Common Stock withheld to cover taxes on this transaction. The amount additionally includes 500,000 shares of Class A Common Stock held by Ares Owners Holdings L.P. ("AOH") on behalf of the reporting person, which were transferred to the reporting person. ( 6 )This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person. ( 7 )The price reported in Column 4 is a weighted average price. These shares were sold on June 25, 2019 in multiple transactions at prices ranging from $26.86 to $27.00, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. ( 8 )This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person. ( 9 )The price reported in Column 4 is a weighted average price. These shares were sold on June 26, 2019 in multiple transactions at prices ranging from $25.50 to $26.03, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. ( 10 )This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person. ( 11 )The price reported in Column 4 is a weighted average price. These shares were sold on June 27, 2019 in multiple transactions at prices ranging from $25.97 to $26.18, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. ( 12 )The reporting person or a vehicle controlled by him is a limited partner in AOH, the direct holder of the shares of Class A Common Stock. The shares of Class A Common Stock indirectly held by the reporting person or the vehicle are the number of shares of Class A Common Stock that he or the vehicle has a right to receive as a limited partner in AOH.

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