Marc S. Lipschultz - Sep 15, 2023 Form 4 Insider Report for BLUE OWL CAPITAL INC. (OWL)

Role: Co-Chief Executive Officer, Director
Signature: /s/ Neena A. Reddy, as Attorney-in-Fact
Stock symbol: OWL
Transactions as of: Sep 15, 2023
Transactions value $: $0
Form type: 4
Date filed: 9/15/2023, 05:30 PM
Previous filing: Aug 10, 2023
Next filing: Nov 13, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	OWL	Class D Shares	Gift		-1.1M	-1.86%		58.1M	Sep 15, 2023	See Footnotes	F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	OWL	Blue Owl Operating Group Units	Gift		-1.1M	-1.86%		58.1M	Sep 15, 2023	Class B Shares	1.1M		See Footnotes	F1, F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The reported transaction represents a gift/charitable donation of securities indirectly owned through Owl Rock Capital Feeder LLC ("Owl Rock Feeder") that were distributed to the reporting person and donated to National Philanthropic Trust, a Pennsylvania non-profit corporation, to be held in a donor-advised fund.
F2	Consists of an aggregate of 58,095,038 shares of Class D Shares and an equal number of Blue Owl Operating Group Units held directly by Owl Rock Feeder, 38.41% of which are held on behalf of Mr. Lipschultz; 19.88% of which are held on behalf of Lipschultz Family OR Trust over which Mr. Lipschultz has sole investment and voting power; and 41.71% of which are held on behalf of Mr. Lipschultz's spouse, Jennifer Lipschultz. Mr. Lipschultz expressly disclaims beneficial ownership of the securities held by Owl Rock Feeder except to the extent of his pecuniary interest therein.
F3	Each Blue Owl Operating Group Unit, upon the cancellation of an equal number of Class D Shares, may be exchanged from time to time for an equal number of newly issued shares of Class B common stock ("Class B Shares"), subject to any applicable transfer restrictions and the terms of the Exchange Agreement, dated as of May 19, 2021, or (at the election of an exchange committee of the general partner of the Blue Owl Operating Group) a cash payment equal to the five-day volume weighted average price of shares of Class A common stock immediately prior to the applicable exchange date. Blue Owl Operating Group Units do not expire.