Form 4: Blue Owl Capital Inc. Co-President Acquires 25,500 Class C Shares and Operating Group Units

Michael Douglass Rees, Co-President of Blue Owl Capital Inc., reports the acquisition of 25,500 Class C Shares and Blue Owl Operating Group Units on February 13, 2025.

Summary

• On February 13, 2025, Michael Douglass Rees, Co-President of Blue Owl Capital Inc., acquired 25,500 Class C Shares and 25,500 Blue Owl Operating Group Units.
• The acquisition was made through Blue Owl Management Vehicle LP, in respect of Class P Units issued to Blue Owl Management Vehicle on behalf of the reporting person pursuant to the Amended and Restated Blue Owl Capital Inc. 2021 Omnibus Equity Incentive Plan.
• The reporting person holds Incentive Units of Blue Owl Management Vehicle, which correspond to the Class P Units and the resulting Common Units and Class C Shares on a 1-for-1 basis.
• Following the transaction, Rees beneficially owns 3,738,909 Class C Shares and 3,738,909 Blue Owl Operating Group Units indirectly.
• The reported Incentive Units of Blue Owl Management Vehicle are fully vested upon the grant date, but are subject to a lock-up period of one year from the grant date.
• After attainment of required capital account thresholds, Incentive Units settle by delivery of an equal number of Common Units of each of the Blue Owl Operating Partnerships and Class C Shares.
• After expiration of the lock-up and cancellation of an equal number of Class C Shares, Blue Owl Operating Group Units may be exchanged from time to time at the request of the reporting person for an equal number of newly issued shares of the Issuer's Class A common stock or a cash payment equal to the five-day volume weighted average price of shares of Class A Shares immediately prior to the applicable exchange date.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. The acquisition of shares by a company executive is generally a positive sign, but the filing itself is a routine disclosure.

Positives

• The acquisition of shares by a company executive can be seen as a positive signal, indicating confidence in the company's future prospects.

Risks

• The lock-up period on the Incentive Units means that the reporting person cannot immediately convert or sell the shares, which could be a risk if the company's performance declines during that period.

Future Outlook

The document does not contain specific forward-looking statements, but the acquisition of shares by a company executive suggests a positive outlook.

Industry Context

Form 4 filings are a routine part of corporate governance and provide transparency into the transactions of company insiders. This filing indicates the Co-President's continued investment in the company.

Stakeholder Impact

• The acquisition of shares by a company executive could have a positive impact on shareholder confidence.

Key Dates