[Form 4] The Carlyle Group Inc. Insider Trading Activity

Rhea-AI Filing Summary

John C. Redett, Chief Financial Officer of The Carlyle Group Inc. (CG), received 2,992 common stock units as dividend equivalents tied to previously granted time-vesting restricted stock units. The transaction is reported as an acquisition on 08/28/2025 at a $0 price, reflecting accrual of dividend equivalent units in connection with the issuer's quarterly dividend.

Following the award, Mr. Redett beneficially owns 1,096,386 shares. The dividend equivalent units will vest on the same schedule and under the same terms as the underlying restricted stock unit awards. The Form 4 was signed by an attorney-in-fact on behalf of Mr. Redett on 08/29/2025.

Positive

• Transparent disclosure of insider equity changes following the company's dividend, supporting governance and market transparency
• Units vest with existing RSU schedule, indicating alignment with previously approved compensation terms rather than an ad hoc award

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine executive compensation accrual; aligns with existing RSU vesting schedules and dividend policy.

The reported issuance of 2,992 dividend-equivalent units to the CFO is described as an accrual tied to previously granted time-vesting RSUs, not a new standalone grant. Because these units vest on the same schedule and terms as the underlying awards, the transaction reflects normal compensation mechanics following a quarterly dividend rather than discretionary additional compensation. For governance purposes this is routine disclosure that maintains transparency on insider holdings and potential dilution from long-term equity awards.

Financial Analyst

TL;DR: Immateral to valuation; small incremental increase in insider holdings with no cash consideration.

The acquisition of 2,992 units at $0 increases the CFO's beneficial ownership to 1,096,386 shares. The transaction results from dividend equivalent accruals on existing RSUs and carries no purchase price, indicating no immediate cash flow impact. Given the scale relative to the total outstanding shares implied by the reporting context, this is unlikely to be material to company valuation or near-term financials.

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

OMB APPROVAL

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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^*

Redett John C.

(Last) (First) (Middle)

1001 PENNSYLVANIA AVENUE, NW

(Street)

WASHINGTON DC 20004

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Carlyle Group Inc. [ CG ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/28/2025

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
Common Stock	08/28/2025		A(1)		2,992	A	$0	1,096,386	D

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. Represents dividend equivalent units accrued on certain existing time-vesting restricted stock unit awards, the grant of which was previously reported, in connection with the issuer's quarterly dividend. Such dividend equivalent units will vest on the same schedule and subject to the same terms and conditions as the underlying awards.

Remarks:

	/s/ Anne K. Frederick by Power of Attorney for John C. Redett	08/29/2025
	** 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.
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.

FAQ

What did John C. Redett report on the Form 4 for Carlyle Group (CG)?

He reported the acquisition of 2,992 dividend-equivalent units on 08/28/2025, tied to existing time-vesting RSUs.

Did John C. Redett pay for the shares reported on the Form 4 (CG)?

No. The Form 4 shows a price of $0, indicating these were dividend equivalent units, not purchased shares.

How many shares does John C. Redett beneficially own after the reported transaction?

The filing shows beneficial ownership of 1,096,386 shares following the transaction.

Why were dividend equivalent units granted to the CFO on Carlyle's Form 4?

The filing states the units represent dividend equivalent units accrued on existing time-vesting RSU awards in connection with the issuer's quarterly dividend.

Is this Form 4 transaction likely material to Carlyle Group's financials?

According to the filing, this is an accrual of dividend-equivalent units tied to existing RSUs and carries no cash consideration, suggesting it is not material to financial statements.