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Blue Owl Capital Inc. (OWL) Co-President granted 681K shares and units

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(Neutral)
Form Type
4

Rhea-AI Filing Summary

Packer Craig reported acquisition or exercise transactions in this Form 4 filing.

Blue Owl Capital Inc. Co-President Craig Packer reported awards tied to 681,229 Blue Owl Operating Group Units and 681,229 Class C Shares, held indirectly through Blue Owl Management Vehicle LP. These fully vested Incentive Units are subject to a one-year lock-up and, after required conditions, ultimately may be exchanged for an equal number of Class A Shares or cash based on a five-day volume weighted average price, resulting in reported indirect holdings of 6,416,974 shares.

Positive

  • None.

Negative

  • None.
Insider Packer Craig
Role Co-President
Type Security Shares Price Value
Grant/Award Blue Owl Operating Group Units F1, F2 681,229 $0.00 $0.00
Grant/Award Class C Shares F1, F2 681,229 $0.00 $0.00
Holdings After Transaction: Blue Owl Operating Group Units — 6,416,974 shares (Indirect, See Footnotes); Class C Shares — 6,416,974 shares (Indirect, See Footnotes)
Footnotes (2)
  1. F1. Represents shares of Class C common stock of the Issuer ("Class C Shares") and Common Units of Blue Owl Capital Holdings LP, a Delaware limited partnership ("Blue Owl Holdings"), issued or to be issued to Blue Owl Management Vehicle LP, a Delaware limited partnership ("Blue Owl Management Vehicle"), in respect of Class P Units of Blue Owl Holdings issued to Blue Owl Management Vehicle on behalf of the reporting person pursuant to the Second Amended and Restated Blue Owl Capital Inc. 2021 Omnibus Equity Incentive Plan, as amended from time to time. 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.
  2. F2. 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 Blue Owl Holdings ("Blue Owl Operating Group Units") 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 ("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.
Class C Shares awarded 681,229 shares Class C Shares indirectly acquired on 2026-08-06
Operating Group Units awarded 681,229 units Blue Owl Operating Group Units indirectly acquired on 2026-08-06
Indirect holdings after award 6,416,974 shares Total indirect holdings reported following these transactions
Lock-up period 1 year Incentive Units subject to a lock-up period of one year from grant date
Incentive Unit ratio 1-for-1 Incentive Units correspond 1-for-1 to Class P Units and resulting Common Units and Class C Shares
Incentive Units financial
"The reporting person holds Incentive Units of Blue Owl Management Vehicle, which correspond to the Class P Units"
Incentive units are ownership stakes a company grants to employees, contractors or advisors as part of pay, which become valuable only after certain conditions are met (for example, after a period of time or when performance targets are hit). They matter to investors because they create potential future claims on profits or ownership—similar to performance-based coupons that convert into a slice of the business—and can dilute existing holders or change incentives for management.
lock-up period financial
"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"
A lock-up period is a fixed time after a stock offering during which company insiders and early investors are legally barred from selling their shares. It matters because when that restriction expires a large block of previously locked-up shares can enter the market at once, potentially lowering the stock price or spiking trading volume—like opening a floodgate—so investors monitor these dates to anticipate price moves and manage risk.
Blue Owl Operating Group Units financial
"Incentive Units settle by delivery of an equal number of Common Units of Blue Owl Holdings ("Blue Owl Operating Group Units")"
volume weighted average price financial
"a cash payment equal to the five-day volume weighted average price of shares of Class A Shares"
The volume weighted average price (VWAP) is a way to measure the average price of a security, such as a stock, over a specific period, taking into account how many units were traded at each price. It’s similar to calculating the average cost of items bought when some are more frequently purchased than others. Investors use VWAP to assess whether a security is being bought or sold at a fair price during trading.
Class C Shares financial
"Represents shares of Class C common stock of the Issuer ("Class C Shares") and Common Units of Blue Owl Capital Holdings LP"
Class C shares are a type of common stock that typically carries reduced or no voting rights compared with other share classes, while still entitling holders to dividends and profit participation. Think of them like concert tickets that let you enjoy the show but don’t grant backstage access — you share in gains but have little say in management decisions. Investors care because voting power affects corporate control and strategic direction, which can influence long‑term value and risk.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What equity awards did Blue Owl Capital (OWL) report for Craig Packer?

Craig Packer received awards linked to 681,229 Class C Shares and 681,229 Blue Owl Operating Group Units. Both positions are held indirectly through Blue Owl Management Vehicle LP and were reported at a price of $0.0000 per share, increasing indirect holdings to 6,416,974 shares.

How are Craig Packer’s Blue Owl (OWL) Incentive Units structured?

Packer holds Incentive Units in Blue Owl Management Vehicle that correspond 1-for-1 to Class P Units and resulting Common Units and Class C Shares. These Incentive Units are fully vested on the grant date but remain subject to a one-year lock-up period from that date.

What happens to Blue Owl (OWL) Incentive Units after vesting and lock-up?

After reaching required capital account thresholds, Incentive Units settle into an equal number of Common Units and Class C Shares. Following the lock-up and cancellation of equal Class C Shares, Blue Owl Operating Group Units may be exchanged for Class A Shares or cash based on a five-day volume weighted average price.

Do Blue Owl Operating Group Units reported for OWL expire?

The Blue Owl Operating Group Units reported in connection with Craig Packer’s Incentive Units do not expire. They can, after the lock-up and related share cancellations, be exchanged from time to time for newly issued Class A Shares or an equivalent cash payment, at the exchange committee’s election.

How many Blue Owl (OWL) shares does Craig Packer hold indirectly after this award?

Following the reported grant, Craig Packer’s indirect holdings total 6,416,974 shares. This figure reflects Class C Shares and related operating group units held through Blue Owl Management Vehicle LP in respect of Incentive Units granted under the Blue Owl Capital Inc. 2021 Omnibus Equity Incentive Plan.
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Packer Craig

(Last)(First)(Middle)
399 PARK AVENUE
37TH FLOOR

(Street)
NEW YORK NEW YORK 10022

(City)(State)(Zip)

UNITED STATES

(Country)
2. Issuer Name and Ticker or Trading Symbol
BLUE OWL CAPITAL INC. [ OWL ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
Co-President
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
08/06/2026
6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Class C Shares(1)(2)08/06/2026A681,229A$06,416,974ISee Footnotes(1)(2)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Blue Owl Operating Group Units(1)(2)(2)08/06/2026A681,229 (2) (2)Class A Shares681,229$06,416,974ISee Footnotes(1)(2)
Explanation of Responses:
1. Represents shares of Class C common stock of the Issuer ("Class C Shares") and Common Units of Blue Owl Capital Holdings LP, a Delaware limited partnership ("Blue Owl Holdings"), issued or to be issued to Blue Owl Management Vehicle LP, a Delaware limited partnership ("Blue Owl Management Vehicle"), in respect of Class P Units of Blue Owl Holdings issued to Blue Owl Management Vehicle on behalf of the reporting person pursuant to the Second Amended and Restated Blue Owl Capital Inc. 2021 Omnibus Equity Incentive Plan, as amended from time to time. 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.
2. 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 Blue Owl Holdings ("Blue Owl Operating Group Units") 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 ("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.
/s/ Neena A. Reddy, as Attorney-in-Fact08/07/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)