Zahr Marc 4

What Happened
Marc Zahr, Co‑President and Director of Blue Owl Capital Inc. (OWL), was granted 788,882 shares (reported as an award, Code A) on 2026-05-07 at $0.00 (no cash paid). The filing also reports a corresponding derivative award of 788,882 reflecting incentive/management vehicle units that convert into Common Units of Blue Owl Capital Holdings LP and Class C common stock under the company’s omnibus equity incentive plan.

Key Details

• Transaction date: 2026-05-07; Form 4 filed: 2026-05-08 (timely).
• Grant type/code: A = Award/Grant; price reported $0.00; total reported value $0.
• Shares reported acquired: 788,882 shares and 788,882 related derivative units.
• Shares owned after transaction: per footnotes, the reporting person’s beneficial holdings total 10,357,458 Blue Owl Operating Group Units and an equal number of Class C Shares (combined holdings reflected in footnote detail).
• Notable footnotes: Incentive Units are fully vested at grant but subject to a one‑year lock‑up (F1–F2). Incentive Units settle into Operating Group Units and Class C Shares after certain capital thresholds; Operating Group Units may later be exchanged for newly issued Class A shares (or cash at an exchange committee’s election) once lock‑up/cancellation conditions are met (F2, F5).
• Transaction not a sale—this is a grant/award (not a market purchase or sale), so it does not signal an immediate cash investment or divestment.

Context
These entries reflect equity incentives issued/allocated through Blue Owl’s management vehicle structure rather than an open‑market purchase. The awards are vested but locked for one year and convert through a multi‑step process into operating units and Class C shares, which may later be exchanged for Class A shares (or cash) under plan terms. For retail investors, grants are informational (compensation/retention), not direct buys or sells indicating near‑term market action.