Blue Owl Capital (OWL) Co-CEO Douglas Ostrover reports 158,000-share insider purchase

Rhea-AI Filing Summary

Blue Owl Capital Inc. director and Co-CEO Douglas I. Ostrover reported open-market purchases of the company’s Class A shares through a trust. On December 1, 2025, the trust bought 18,673 Class A shares at a weighted average price of $15.0557 per share. On December 2, 2025, it bought an additional 139,327 Class A shares at a weighted average price of $15.0605 per share.

Following these transactions, the trust beneficially owns 158,000 Class A shares, reported as indirectly owned by Ostrover, who has sole investment and voting power over the trust. The prices reflect multiple trades within narrow ranges around $15 per share. The report notes that it covers only the Class A shares involved in these transactions and does not include other Blue Owl equity interests that Ostrover may beneficially own.

SEC Form 4

FORM 4

UNITED 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

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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^*

Ostrover Douglas I

(Last) (First) (Middle)

399 PARK AVENUE

37TH FLOOR

(Street)

NEW YORK NY 10022

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BLUE OWL CAPITAL INC. [ OWL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Co-Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
12/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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)
			Code	V	Amount	(A) or (D)	Price
Class A Shares	12/01/2025		P		18,673	A	$15.0557(1)	18,673	I	By Trust(2)
Class A Shares	12/02/2025		P		139,327	A	$15.0605(3)	158,000	I	By Trust(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were bought in multiple transactions at prices ranging from $15.03 to $15.07. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.

2. The reported transaction represents open market purchases of the Issuer's Class A common stock by The Douglas I. Ostrover 2016 Descendants' Trust, over which the reporting person has sole investment and voting power.

3. The price reported in Column 4 is a weighted average price. These shares were bought in multiple transactions at prices ranging from $14.96 to $15.12. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.

Remarks:

Per applicable rules, this Statement reflects only the class of securities involved in the reported transactions. Accordingly, the reported amounts do not reflect Blue Owl Operating Group Units, Class B Shares, Class C Shares or Class D Shares beneficially owned by the Reporting Person.

	/s/ Neena A. Reddy, as Attorney-in-Fact	12/03/2025
	** Signature of Reporting Person	Date
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.
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FAQ

What did Blue Owl Capital (OWL) disclose in this Form 4 filing?

The filing reports that director and Co-Chief Executive Officer Douglas I. Ostrover, through a trust, made open-market purchases of Blue Owl Capital Inc. Class A common stock on December 1 and 2, 2025.

How many Blue Owl (OWL) shares were purchased in the reported transactions?

The trust purchased 18,673 Class A shares on December 1, 2025 and 139,327 Class A shares on December 2, 2025, for a total of 158,000 Class A shares beneficially owned following the transactions.

At what prices did Douglas Ostrover’s trust buy Blue Owl (OWL) Class A shares?

The December 1, 2025 purchase had a weighted average price of $15.0557 per share, with trades between $15.03 and $15.07. The December 2, 2025 purchase had a weighted average price of $15.0605, with trades between $14.96 and $15.12.

How is ownership of these Blue Owl (OWL) shares structured for Douglas Ostrover?

The reported shares are held by The Douglas I. Ostrover 2016 Descendants' Trust. The filing states that Ostrover has sole investment and voting power over the trust, so the 158,000 Class A shares are reported as indirectly owned by him.

Does this Form 4 include all of Douglas Ostrover’s interests in Blue Owl (OWL)?

No. The filing explains that it reflects only the class of securities involved in the reported transactions, the Class A common stock. It notes that the amounts reported do not include Blue Owl Operating Group Units, Class B Shares, Class C Shares, or Class D Shares that he may beneficially own.

Was a Rule 10b5-1 trading plan indicated in this Blue Owl (OWL) Form 4?

The form includes a check box for transactions made under a Rule 10b5-1(c) trading plan, which is meant to provide an affirmative defense for pre-arranged trades, but the excerpt does not show that box as selected.