Marc Zahr - 14 Sep 2026 Form 4 Insider Report for BLUE OWL CAPITAL INC. (OWL)

Reporting relationship: Co-President, Director
Issuer ticker: OWL
Reported as of: 14 Sep 2026
Net transaction value: $0
SEC form: 4
Accepted by SEC: 14 Sep 2026, 20:30:04 UTC
Prior SEC filing: 07 Aug 2026
Source filing: View source filing
Reporting owner signature: /s/ Neena A. Reddy, as Attorney-in-Fact

Key filing fact

Marc Zahr filed Form 4 for BLUE OWL CAPITAL INC. (OWL) on 14 Sep 2026.

Key facts

This page summarizes Marc Zahr's Form 4 filing for BLUE OWL CAPITAL INC. (OWL).
3 reported transactions and 4 derivative rows are listed below.
Accepted by SEC: 14 Sep 2026, 20:30.

Change

Previous filing in this sequence was filed on 07 Aug 2026.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001901889 Primary reporting owner

Zahr Marc

Relationship: Co-President, Director
Address: 399 PARK AVENUE, 37TH FLOOR, NEW YORK
Signature: /s/ Neena A. Reddy, as Attorney-in-Fact
Signature date: 14 Sep 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

OWL transaction

Class C Shares

Other

Transaction value
Shares: -4,550,777
Change %: -41%
Price
Shares after: 6,543,145
Date: 14 Sep 2026
Ownership: See Footnotes
Footnotes: F1, F2

OWL holding

Class C Shares

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 45,507,772
Date: 14 Sep 2026
Ownership: By Trust
Footnotes: F1, F3, F4

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

OWL transaction Derivative

Blue Owl Operating Group Units

Other

Transaction value
Shares: -4,550,777
Change %: -41%
Price
Shares after: 6,543,145
Date: 14 Sep 2026
Ownership: See Footnotes
Underlying class: Class A Shares
Underlying amount: 4,550,777
Exercise price
Footnotes: F1, F2, F5

OWL transaction Derivative

Derivatives Contract

Sale

Transaction value
Shares: -1
Change %: -50%
Price
Shares after: 1
Date: 14 Sep 2026
Ownership: Direct
Underlying class: Class A Shares
Underlying amount: 6,543,145
Exercise price
Footnotes: F6, F7

OWL holding Derivative

Blue Owl Operating Group Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 45,507,772
Date: 14 Sep 2026
Ownership: By Trust
Underlying class: Class A Shares
Underlying amount: 45,507,772
Exercise price
Footnotes: F1, F3, F4, F5

OWL holding Derivative

Derivatives Contract

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 1
Date: 14 Sep 2026
Ownership: By Trust
Underlying class: Class A Shares
Underlying amount: 6,543,145
Exercise price
Footnotes: F4, F6, F7

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 7 footnotes

Footnote F1

For estate planning purposes, the reporting person transferred his remaining units of Augustus, LLC ("Augustus"), an investment vehicle controlled by the reporting person, to the Zahr Family Gift Trust (the "Trust"), with James J. Hennessey, as trustee (the "Trustee") of the Trust, and the reporting person, as investment trustee (the "Investment Trustee") of the Trust. As of the date hereof and after giving effect to such transfer, OSREC Feeder, LP ("OSREC") holds 45,507,772 common units of Blue Owl Capital Holdings LP ("Blue Owl Holdings"), a Delaware limited partnership ("Blue Owl Operating Group Units"), and an equal number of shares of Class C common stock of the Issuer ("Class C Shares") on behalf of Augustus, with 100% of such securities indirectly held by Augustus on behalf of the Trust.

Footnote F2

Consists of 6,543,145 Blue Owl Operating Group Units and an equal number of Class C Shares issued or to be issued in respect of Class P Units of Blue Owl Holdings issued to Blue Owl Management Vehicle LP ("Blue Owl Management Vehicle") on behalf of the reporting person. The reporting person holds Incentive Units of Blue Owl Management Vehicle, which correspond to the Class P Units and the resulting Blue Owl Operating Group Units and Class C Shares on a 1-for-1 basis.

Footnote F3

The Blue Owl Operating Group Units and an equal number of Class C Shares held directly by OSREC on behalf of Augustus, corresponding to the Trust's holdings of 100% of the units in Augustus, following the transfer of Augustus units described in footnote 1 above, are indirectly held by the Trust.

Footnote F4

The reporting person disclaims beneficial ownership of the securities held by the Trust, except to the extent of his pecuniary interest therein, and disclaims that the transaction reported herein represents a change in beneficial ownership. The Trust is maintained for the benefit of immediate family members sharing the same household of the reporting person.

Footnote F5

After the cancellation of an equal number of Class C Shares (and, in the case of the Incentive Units, the expiration of a one-year lock up from the grant date), 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 ("Class A Shares") (or at the election of an exchange committee of the general partner of Blue Owl Holdings, 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). Blue Owl Operating Group Units do not expire.

Footnote F6

On September 14, 2026, the reporting person entered into a derivative agreement (the "Agreement") for estate planning purposes with the Investment Trustee of the Trust pursuant to which the reporting person sold the Investment Trustee a derivative for an aggregate amount equal to $14,866,651. The settlement date is September 14, 2033 or, if earlier, the date of the reporting person's death (the "Settlement Date"). Within 120 days after the Settlement Date, an amount equal to the fair market value of the Blue Owl Interests (as defined below) as of the Settlement Date less $100,000 (the "Hurdle Amount") shall be determined. If such amount is greater than zero, the Reporting Person shall pay such amount to the Investment Trustee within thirty days.

Footnote F7

The Agreement provides the Trust with a right to receive a future payment that represents the increase in value over the Hurdle Amount of the following ("Blue Owl Interests"), defined as: (i) 4,268,577 Blue Owl Operating Group Units and an equal number of Class C Shares to be issued in respect of Incentive Units of Blue Owl Management Vehicle held by the reporting person, (ii) 2,274,568 Blue Owl Operating Group Units and an equal number of Class C Shares issued in respect of Incentive Units of Blue Owl Management Vehicle held by the reporting person.