Ostrover Douglas I 4

What Happened
Douglas I. Ostrover, CEO of Blue Owl Capital Inc. (OWL), was granted equity on Feb 12, 2026. The Form 4 shows two related entries of 878,709 shares each (one reported as an outright award of Class C shares and one reported as a derivative/units award), each reported at $0.00 — i.e., no cash was paid. These awards are coded as “A” (grant/award), not purchases or sales.

Key Details

• Transaction date: 2026-02-12; filing date: 2026-02-13 (timely).
• Reported amounts: 878,709 shares (Class C) and a corresponding 878,709-unit derivative entry, both at $0.00.
• Shares owned after transaction: not specified in the provided excerpt.
• Footnote highlights:
  • The entries represent Class C common shares and Common Units of Blue Owl Capital Holdings LP issued to a management vehicle in respect of Class P Units (F1).
  • The Incentive Units are fully vested on grant but subject to a one-year lock-up from the grant date; settlement and exchange rules apply after certain capital-account thresholds and lock-up expiration (F2).
• Transaction code: A = Award/Grant (not an open-market buy or sale).

Context
This is an equity compensation award rather than an open-market purchase or a sale. The units/shares are subject to conversion and lock-up mechanics: Incentive Units settle into Common Units and Class C Shares after thresholds are met, and later may be exchangeable for Class A shares (or cash in some cases) after the lock-up and required cancellations. Because this is a grant with a one-year lock-up, it does not represent an immediate market transaction or liquidity event.