Form 4: Blue Owl Capital Co-President Michael Rees Reports Significant Share Transactions

Michael Rees, Co-President of Blue Owl Capital, reports the distribution, exchange, and sale of a substantial number of Class A and Class C shares, as well as Blue Owl Operating Group Units.

Summary

• On May 6, 2024, Michael Rees, Co-President of Blue Owl Capital, reported a series of transactions involving Class A and Class C shares, and Blue Owl Operating Group Units.
• Owl Rock Capital Feeder LLC distributed 19,600,000 Class C Shares and an equal number of Blue Owl Operating Group Units to Dyal Capital Partners IV Holdings (Dyal IV).
• Dyal IV then exchanged 19,600,000 Blue Owl Operating Group Units for 19,600,000 Class A Shares, leading to the cancellation of the 19,600,000 Class C Shares.
• Dyal IV sold 19,600,000 Class A shares in an unregistered block trade at $17.97 per share.
• Rees has an indirect economic interest in Dyal IV and may be deemed to beneficially own the reported securities, but he disclaims beneficial ownership except to the extent of his indirect pecuniary interest.
• Rees also indirectly holds 2,619,032 Class C Shares and Blue Owl Group Operating Units through Blue Owl Management Vehicle LP related to the 2021 Omnibus Equity Incentive Plan.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing transactions. It doesn't inherently convey positive or negative sentiment, but rather reports factual changes in ownership.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The transactions may influence shareholder perception of Blue Owl Capital's stock.
• The sale of a significant block of shares could temporarily affect the stock's liquidity.

Key Dates