Medline 10% owners sell 20.7M shares in October

Two transactions were indirect sales of shares owned by Hux Investment, with GIC Private Ltd and GIC Special Investments sharing voting and disposition power.

Rhea-AI Filing Summary

Medline Inc. (MDLN) 10% owners GIC Private Ltd, GIC Special Investments Pte Ltd and Hux Investment Pte. Ltd. reported sales totaling 20,678,630 shares of Class A common stock across five transactions on October 2, 5 and 6, 2026. Reported prices included $35.35 and $34.33 per share on October 2, $35.78 on October 5, and $35.05 on October 6. The $35.35 and $35.78 prices were weighted averages, for transactions at $35.30–$35.70 and $35.59–$36.23, respectively.

The two indirect sales involved shares owned directly by Hux Investment, with GIC Private Ltd and GIC Special Investments sharing voting and disposition power. Each reporting person disclaimed beneficial ownership except to the extent of its pecuniary interest. No Rule 10b5-1 plan is reported.

Insider Trade Summary

Net Seller: 20,678,630 shares

Net Sell 5 txns

Insider GIC Private Ltd, GIC Special Investments Pte Ltd, Hux Investment Pte. Ltd.

Role 10% Owner | 10% Owner | 10% Owner

Sold 20,678,630 shs ($721.64M)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock F2	2,088,987	$35.05	$73.22M
Sale	Class A Common Stock F2, F3	7,183,013	$35.05	$251.76M
Sale	Class A Common Stock F4, F2	1,688,690	$35.78	$60.42M
Sale	Class A Common Stock F1, F2	2,570,999	$35.35	$90.88M
Sale	Class A Common Stock F2, F3	7,146,941	$34.33	$245.35M

Holdings After Transaction: Class A Common Stock — 16,453,806 shares (Direct); Class A Common Stock — 77,225,493 shares (Indirect, Hux Investment Pte. Ltd.)

Footnotes (4)

1. F1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $35.30 to $35.70, inclusive. The reporting person undertakes to provide to Medline Inc., any security holder of Medline Inc., or the staff of the Securities and Exchange Commission (the "SEC"), upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (1) to this Form 4.
2. F2. Each Reporting Person disclaims beneficial ownership of the securities except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
3. F3. These securities are owned directly by Hux. Hux shares the power to vote and the power to dispose of these securities with GIC Special Investments Pte. Ltd. ("GIC SI") and GIC (with Hux and GIC SI, each a "Reporting Person"), both of which are private limited companies incorporated in Singapore. GIC SI is wholly owned by GIC and is the private equity investment arm of GIC. GIC is wholly owned by the Government of Singapore and was set up with the sole purpose of managing Singapore's foreign reserves. The Government of Singapore disclaims beneficial ownership of these securities.
4. F4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $35.59 to $36.23, inclusive. The reporting person undertakes to provide to Medline Inc., any security holder of Medline Inc., or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (4) to this Form 4.

Key Figures

Total shares sold: 20,678,630 shares Direct sale shares: 2,570,999 shares Indirect Hux-owned sale shares: 7,146,941 shares +3 more

6 metrics

Total shares sold 20,678,630 shares Across five reported Class A common stock transactions

Direct sale shares 2,570,999 shares October 2, 2026; weighted-average price $35.35 per share, across transactions priced from $35.30 to $35.70

Indirect Hux-owned sale shares 7,146,941 shares October 2, 2026; $34.33 per share

Direct sale shares 1,688,690 shares October 5, 2026; weighted-average price $35.78 per share, across transactions priced from $35.59 to $36.23

Direct sale shares 2,088,987 shares October 6, 2026; $35.05 per share

Indirect Hux-owned sale shares 7,183,013 shares October 6, 2026; $35.05 per share

Key Terms

weighted average price, beneficial ownership, pecuniary interest

3 terms

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

beneficial ownership regulatory

"disclaims beneficial ownership of the securities"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

pecuniary interest financial

"except to the extent of its pecuniary interest therein"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many MDLN shares were sold?

The reported sales totaled 20,678,630 shares of Medline Inc. Class A common stock across five transactions on October 2, October 5 and October 6, 2026.

What were the MDLN sale amounts and prices?

On October 2, a direct sale involved 2,570,999 shares at a weighted-average $35.35 per share, across transactions priced from $35.30 to $35.70; an indirect sale of Hux-owned shares involved 7,146,941 shares at $34.33. On October 5, a direct sale involved 1,688,690 shares at a weighted-average $35.78, across transactions priced from $35.59 to $36.23. On October 6, direct and indirect sales involved 2,088,987 and 7,183,013 shares, respectively, both at $35.05 per share.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/06/2026 - 09:48 PM Accepted by SEC EDGAR 10/06/2026 - 09:48 PM Learn about SEC filing dates

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

GIC Private Ltd

(Last) (First) (Middle)

168 ROBINSON ROAD

#37-01 CAPITAL TOWER

(Street)

SINGAPORE SINGAPORE 068912

(City) (State) (Zip)

SINGAPORE

(Country)

2. Issuer Name and Ticker or Trading Symbol
Medline Inc. [ MDLN ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/02/2026

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

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

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

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 Common Stock	10/02/2026		S		2,570,999	D	$35.35(1)	20,231,483	D(2)
Class A Common Stock	10/02/2026		S		7,146,941	D	$34.33	84,408,506	I	Hux Investment Pte. Ltd.(2)(3)
Class A Common Stock	10/05/2026		S		1,688,690	D	$35.78(4)	18,542,793	D(2)
Class A Common Stock	10/06/2026		S		2,088,987	D	$35.05	16,453,806	D(2)
Class A Common Stock	10/06/2026		S		7,183,013	D	$35.05	77,225,493	I	Hux Investment Pte. Ltd.(2)(3)

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

1. Name and Address of Reporting Person^*

GIC Private Ltd

(Last) (First) (Middle)

168 ROBINSON ROAD

#37-01 CAPITAL TOWER

(Street)

SINGAPORE SINGAPORE 068912

(City) (State) (Zip)

SINGAPORE

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

GIC Special Investments Pte Ltd

(Last) (First) (Middle)

168 ROBINSON ROAD

#37-01 CAPITAL TOWER

(Street)

SINGAPORE SINGAPORE 068912

(City) (State) (Zip)

SINGAPORE

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Hux Investment Pte. Ltd.

(Last) (First) (Middle)

168 ROBINSON ROAD

#37-01 CAPITAL TOWER

(Street)

SINGAPORE SINGAPORE 068912

(City) (State) (Zip)

SINGAPORE

(Country)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $35.30 to $35.70, inclusive. The reporting person undertakes to provide to Medline Inc., any security holder of Medline Inc., or the staff of the Securities and Exchange Commission (the "SEC"), upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (1) to this Form 4.

2. Each Reporting Person disclaims beneficial ownership of the securities except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

3. These securities are owned directly by Hux. Hux shares the power to vote and the power to dispose of these securities with GIC Special Investments Pte. Ltd. ("GIC SI") and GIC (with Hux and GIC SI, each a "Reporting Person"), both of which are private limited companies incorporated in Singapore. GIC SI is wholly owned by GIC and is the private equity investment arm of GIC. GIC is wholly owned by the Government of Singapore and was set up with the sole purpose of managing Singapore's foreign reserves. The Government of Singapore disclaims beneficial ownership of these securities.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $35.59 to $36.23, inclusive. The reporting person undertakes to provide to Medline Inc., any security holder of Medline Inc., or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (4) to this Form 4.

	GIC Private Ltd, By: /s/ Wong Hui Ping, Name: Wong Hui Ping, Title: Senior Vice President; By: /s/ Toh Tze Meng, Name: Toh Tze Meng, Title: Senior Vice President	10/06/2026
	GIC Special Investments Pte Ltd, By: /s/ Sensen Lin, Name: Sensen Lin, Title: Authorized Signatory for GIC SI	10/06/2026
	Hux Investment Pte. Ltd., By: /s/ Suresh Bala, Name: Suresh Bala, Title: Director	10/06/2026
	** 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.
* Form 4: SEC 1474 (03-26)