Michael Douglass Rees - 17 Mar 2026 Form 4 Insider Report for BLUE OWL CAPITAL INC. (OWL)

Reporting relationship: Co-President, Director
Issuer ticker: OWL
Reported as of: 17 Mar 2026
Net transaction value: $0
SEC form: 4
Accepted by SEC: 19 Mar 2026, 16:30:12 UTC
Prior SEC filing: 13 Feb 2026
Next SEC filing: 08 May 2026
Source filing: View source filing
Reporting owner signature: /s/ Neena A. Reddy, as Attorney-in-Fact

Key filing fact

Michael Douglass Rees filed Form 4 for BLUE OWL CAPITAL INC. (OWL) on 19 Mar 2026.

Key facts

This page summarizes Michael Douglass Rees's Form 4 filing for BLUE OWL CAPITAL INC. (OWL).
2 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 19 Mar 2026, 16:30.

Change

Previous filing in this sequence was filed on 13 Feb 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 0001861792 Primary reporting owner

Rees Michael Douglass

Relationship: Co-President, Director
Address: 399 PARK AVENUE, 37TH FLOOR, NEW YORK
Signature: /s/ Neena A. Reddy, as Attorney-in-Fact
Signature date: 19 Mar 2026

Reported non-derivative transactions

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

OWL transaction

Class D Shares

Other

Transaction value
Shares: -30,000,000
Change %: -73%
Price
Shares after: 11,209,723
Date: 17 Mar 2026
Ownership: See Footnotes
Footnotes: F1, F2, F3

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: -30,000,000
Change %: -73%
Price: $0.000000^*
Shares after: 11,209,723
Date: 17 Mar 2026
Ownership: See Footnotes
Underlying class: Class B Shares
Underlying amount: 30,000,000
Exercise price
Footnotes: F1, F2, F3, F4

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

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 4 footnotes

Footnote F1

The reported transaction represents a transfer, based on the fair value of the transferred interests, of securities indirectly owned through Dyal Capital SLP LP ("Dyal SLP") for estate planning purposes. After giving effect to such transfer, the reporting person will no longer be attributed beneficial ownership of such transferred securities.

Footnote F2

Amount of securities beneficially owned following the reported transaction also excludes securities previously reported as beneficially owned by the reporting person, the ownership of which is no longer attributed to the reporting person because investment decisions are being made by a third-party investment manager.

Footnote F3

Consists of an aggregate of 11,209,723 shares of Class D common stock ("Class D Shares") and an equal number of common units ("Blue Owl Operating Group Units") of Blue Owl Capital Holdings LP, a Delaware limited partnership ("Blue Owl Holdings"), associated with such Class D Shares, held directly by Dyal SLP, on behalf of Mr. Rees, his spouse and one or more entities controlled by him. Mr. Rees expressly disclaims beneficial ownership of the securities held by Dyal SLP except to the extent of his pecuniary interest therein.

Footnote F4

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 Third Amended and Restated Exchange Agreement, dated as of April 1, 2025, 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 common stock immediately prior to the applicable exchange date. Blue Owl Operating Group Units do not expire.

SEC remarks

Pursuant to Rule 16a-1(a)(4) of the Securities Exchange Act of 1934, as amended, the reporting person herein states that this filing shall not be deemed to be an admission that such reporting person is the beneficial owner of any of these interests, and disclaims beneficial ownership of such interests, except to the extent of such reporting person's pecuniary interest in such interests.