Blue Owl (OWL) 10% Owner Dyal Capital Transfers 1,000,000 Shares

What Happened
Dyal Capital SLP LP (a 10% owner of Blue Owl Capital Inc., ticker OWL) reported dispositions on Sep 1, 2026, transferring a total of 1,000,000 Class D common shares (two disposals of 500,000 shares each) and an equal number of Blue Owl Operating Group Units. No cash was exchanged (price/value listed as N/A). One of the reported lines relates to the derivative units (the Operating Group Units) that mirror the Class D shares.

Key Details

• Transaction date: 2026-09-01. Transaction type: disposition (code J — other acquisition/disposition). Two entries of 500,000 shares each, totaling 1,000,000 Class D shares and 1,000,000 corresponding Operating Group Units. Price/value: N/A (transferred for no consideration).
• Shares owned after transaction: not specified in the provided filing details.
• Footnote highlights:
  • The transfers were made by Dyal SLP to certain limited partners of Dyal SLP (the "Dyal Partners") for no consideration (F1).
  • The transferred securities consisted of Class D Shares and equal numbers of Blue Owl Operating Group Units held on behalf of limited partners, including named individuals (F2). Those limited partners expressly disclaim beneficial ownership of the securities held by Dyal SLP except to the extent of pecuniary interest.
  • Each Operating Group Unit can later be exchanged for an equal number of newly issued Class B shares (or, at the exchange committee’s election, a cash payment tied to the five-day VWAP of Class A shares) and the units do not expire (F3).
• Filing timeliness: Report filed on 2026-09-01 for transactions dated 2026-09-01 (appears timely).

Context

• These transfers were intra-group transfers to limited partners for no consideration, not open-market sales or purchases—such transfers often reflect internal reorganizations, partner allocations, or non‑market gifts and do not necessarily signal a manager’s buy/sell view of the company.
• As a 10% owner (institutional holder), Dyal SLP’s activity is different from executive/director trading; the filing also shows derivative units that can be converted to Class B shares or cash per the exchange agreement.