secwatch.observer — SEC 8-K summary
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Issuer:     Ares Management Corp (ARES)
CIK:        0001176948
Form:       8-K
Filed at:   2021-08-09T23:59:59+00:00
Accession:  0001104659-21-102120
Event type: leadership
Sentiment:  negative
Materiality: 0.85
Item codes: 5.02, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Ares CFO McFerran terminated for inappropriate employee relationships; Phillips named new CFO
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- Michael McFerran involuntarily terminated as Partner, COO and CFO after investigation found inappropriate personal relationships with employees in violation of policies.
- Jarrod Phillips, previously CAO, appointed CFO and principal financial and accounting officer effective August 4, 2021.
- Phillips receives $750K base salary and 20,000 Restricted Units vesting over 2-5 years.
- McFerran forfeits all unvested equity and carried interest, including awards valued at over $50 million through 2026.
- Business operations functions (Legal, HR, Compliance, Investment Ops, Tech) now report directly to CEO Arougheti.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1176948/000110465921102120/0001104659-21-102120-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1176948/000110465921102120/tm2124522d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-21-102120

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