Ares Management Set to Join S&P 500; Sezzle and Vital Farms to Join S&P SmallCap 600

S&P Dow Jones Indices will make the following changes to the S&P 500 and S&P SmallCap 600:

— Ares Management (NYSE: ARES) will replaceKellanova (NYSE: K) in the S&P 500 effective prior to the open of trading on Thursday, December 11. Mars Inc. is acquiring Kellanova in a deal expected to close soon, pending final closing conditions.

— Vital Farms Inc. (NASD: VITL) will replace Heidrick & Struggles Intl Inc. (NASD: HSII) in the S&P SmallCap 600 effective prior to the opening of trading on Thursday, December 11. Advent International and Corvex Private Equity are acquiring Heidrick & Struggles Intl in a deal expected to be completed soon, pending final closing conditions.

— Sezzle Inc. (NASD: SEZL) will replace Vital Energy Inc. (NYSE: VTLE) in the S&P SmallCap 600 effective prior to the opening of trading on Monday, December 15. S&P SmallCap 600 constituent Crescent Energy Co. (NYSE: CRGY) is acquiring Vital Energy in a deal expected to close soon, pending final closing conditions.

Following is a summary of the changes that will take place prior to the open of trading on the effective date:

Effective Date Index Name Action Company Name Ticker GICS SectorDec 11, 2025 S&P 500 Addition Ares Management ARES FinancialsDec 11, 2025 S&P 500 Deletion Kellanova K Consumer StaplesDec 11, 2025 S&P SmallCap 600 Addition Vital Farms VITL Consumer StaplesDec 11, 2025 S&P SmallCap 600 Deletion Heidrick & Struggles Intl HSII IndustrialsDec 15, 2025 S&P SmallCap 600 Addition Sezzle SEZL FinancialsDec 15, 2025 S&P SmallCap 600 Deletion Vital Energy VTLE Energy

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SOURCE S&P Dow Jones Indices

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