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  4. [Form 4] Medline Inc. Insider Trading Activity

Medline Inc. (MDLN) major GIC-affiliated holders sell 590,284 Class A shares

Filing Impact
(Very High)
Filing Sentiment
(Very Negative)
Form Type
4

Rhea-AI Filing Summary

Medline Inc. large shareholders associated with GIC reported a sale of 590,284 shares of Class A Common Stock on 2026-08-07. The shares were sold at a weighted average price of $35.58 per share, with individual trade prices ranging from $35.20 to $35.72. After this transaction, the reporting persons show 24,402,482 shares held directly and a separate indirect holding of 91,555,447 shares through Hux Investment Pte. Ltd., subject to footnote disclosures that each reporting person disclaims beneficial ownership beyond its pecuniary interest.

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Insider GIC Private Ltd, GIC Special Investments Pte Ltd, Hux Investment Pte. Ltd.
Role 10% Owner | 10% Owner | 10% Owner
Sold 590,284 shs ($21.00M)
Type Security Shares Price Value
Sale Class A Common Stock F1, F2 590,284 $35.58 $21.00M
holding Class A Common Stock F2, F3 -- -- --
Holdings After Transaction: Class A Common Stock — 24,402,482 shares (Direct); Class A Common Stock — 91,555,447 shares (Indirect, Hux Investment Pte. Ltd.)
Footnotes (3)
  1. F1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $35.20 to $35.72, 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, 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.
Shares sold 590,284 shares Class A Common Stock sale on 2026-08-07
Weighted average sale price $35.58 per share Aggregate price for 590,284 sold shares
Sale price range $35.20–$35.72 per share Individual transaction prices within reported sale
Direct holdings after sale 24,402,482 shares Class A Common Stock held directly post-transaction
Indirect holdings via Hux 91,555,447 shares Class A Common Stock held indirectly through Hux Investment Pte. Ltd.
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 financial
"Each Reporting Person disclaims beneficial ownership of the securities except to the extent of its pecuniary interest"
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
"disclaims beneficial ownership of the securities except to the extent of its pecuniary interest therein"
indirect financial
"These securities are owned directly by Hux... Hux shares the power to vote and the power to dispose"
power to vote financial
"Hux shares the power to vote and the power to dispose of these securities"

FAQ

What insider transaction did Medline Inc. (MDLN) report in this Form 4?
Entities associated with GIC reported a sale of 590,284 Medline Inc. Class A shares on 2026-08-07 at a weighted average price of $35.58 per share, with trade prices between $35.20 and $35.72.

How many Medline Inc. (MDLN) shares do the reporting persons hold directly after the sale?
Following the 590,284-share sale, the reporting persons list 24,402,482 shares of Medline Inc. Class A Common Stock as held directly. This figure reflects the position reported in the post-transaction ownership column for the direct holding entry.

What indirect Medline Inc. (MDLN) holdings are reported through Hux Investment Pte. Ltd.?
The filing shows an indirect holding of 91,555,447 Medline Inc. Class A shares held through Hux Investment Pte. Ltd.. Hux shares voting and dispositive power with GIC Special Investments Pte. Ltd. and GIC, subject to stated beneficial ownership disclaimers.

Was the Medline Inc. (MDLN) insider sale made under a Rule 10b5-1 trading plan?
The document-level Rule 10b5-1 checkbox is not marked as true. The disclosure does not state that the 590,284-share sale on 2026-08-07 was executed pursuant to a Rule 10b5-1 trading plan.

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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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)
SINGAPORESINGAPORE068912
(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)
DirectorX10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
08/07/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
XForm 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)
CodeVAmount(A) or (D)Price
Class A Common Stock08/07/2026S590,284D$35.58(1)24,402,482D(2)
Class A Common Stock91,555,447IHux 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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount 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)
SINGAPORESINGAPORE068912
(City)(State)(Zip)
SINGAPORE
(Country)
Relationship of Reporting Person(s) to Issuer
DirectorX10% 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)
SINGAPORESINGAPORE068912
(City)(State)(Zip)
SINGAPORE
(Country)
Relationship of Reporting Person(s) to Issuer
DirectorX10% 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)
SINGAPORESINGAPORE068912
(City)(State)(Zip)
SINGAPORE
(Country)
Relationship of Reporting Person(s) to Issuer
DirectorX10% 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 $35.20 to $35.72, 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, 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.
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 President08/11/2026
GIC Special Investments Pte Ltd, By: /s/ Sensen Lin, Name: Sensen Lin, Title: Authorized Signatory for GIC SI08/11/2026
Hux Investment Pte. Ltd., By: /s/ Suresh Bala, Name: Suresh Bala, Title: Director08/11/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR