Medline director awarded Class A stock units

Sweet Thomas W reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Sweet Thomas W reported acquisition or exercise transactions in this Form 4 filing.

Medline Inc. director Thomas W. Sweet reported equity awards rather than open‑market trades. On June 11, 2026, he received 5,387 shares of Class A Common Stock as a grant of restricted stock units at no cash cost, giving him 5,387 shares held directly after the grant.

The filing also reflects a prior award of 12,413 Class A shares on December 16, 2025, held indirectly through Mallard Advisory LLC, where he is a manager. Those restricted stock units vest on the earlier of the first anniversary of grant or the next annual stockholder meeting, illustrating standard director compensation in stock.

Insider Trade Summary

Grant/Award: 17,800 shares

Grant/Award 2 txns

Insider Sweet Thomas W

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock	5,387	$0.00	$0.00
Grant/Award	Class A Common Stock	12,413	$0.00	$0.00

Holdings After Transaction: Class A Common Stock — 12,413 shares (Indirect, By Mallard Advisory LLC); Class A Common Stock — 5,387 shares (Direct)

Footnotes (3)

1. F1. These securities were acquired in connection with the reclassification of the interests of Medline Holdings, LP prior to the Issuer's initial public offering (as more fully described in the Registration Statement on Form S-1). These securities were previously reported on the Reporting Person's Form 3 filed on December 17, 2025. Represents a grant of restricted stock units ("RSUs") that vest on March 30, 2027.
2. F2. These securities are held by Mallard Advisory LLC, of which the Reporting Person is a manager.
3. F3. Represents a grant of RSUs that vest on the earlier of (i) the first anniversary of the date of grant, and (ii) the next annual meeting of stockholders following the date of grant.

Key Figures

Latest RSU grant: 5,387 shares Class A Common Stock Prior RSU grant: 12,413 shares Class A Common Stock Grant price per share: $0.00 per share +1 more

4 metrics

Latest RSU grant 5,387 shares Class A Common Stock Grant on June 11, 2026; direct holdings after grant

Prior RSU grant 12,413 shares Class A Common Stock Grant on December 16, 2025; held indirectly via Mallard Advisory LLC

Grant price per share $0.00 per share Both equity awards reported as no-cash-cost grants

Direct holdings after latest grant 5,387 shares Class A Common Stock held directly following June 11, 2026 award

Key Terms

restricted stock units ("RSUs"), Class A Common Stock, indirect, initial public offering

4 terms

restricted stock units ("RSUs") financial

"Represents a grant of restricted stock units ("RSUs") that vest on March 30, 2027."

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

Class A Common Stock financial

"security_title": "Class A Common Stock""

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

indirect financial

""direct_or_indirect": "I", "nature_of_ownership": "By Mallard Advisory LLC""

initial public offering financial

"reclassification of the interests of Medline Holdings, LP prior to the Issuer's initial public offering"

An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.

FAQ

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

What insider activity did Medline (MDLN) report for Thomas W. Sweet?

Medline reported that director Thomas W. Sweet acquired Class A Common Stock through equity awards. He received 5,387 restricted stock units on June 11, 2026, and previously 12,413 units on December 16, 2025, as part of his director compensation.

How many Medline (MDLN) shares did Thomas W. Sweet receive in the latest grant?

Thomas W. Sweet received 5,387 shares of Medline Class A Common Stock in the latest grant. These were awarded as restricted stock units at no cash cost, increasing his direct holdings to 5,387 shares after the June 11, 2026 transaction.

What are the vesting terms of Thomas W. Sweet’s Medline (MDLN) restricted stock units?

One Medline RSU grant to Thomas W. Sweet vests on March 30, 2027. Another grant vests on the earlier of the first anniversary of the December 16, 2025 grant date or the next annual meeting of stockholders, reflecting standard director vesting conditions.

Does the Medline (MDLN) Form 4 show open-market buying or selling by Thomas W. Sweet?

The Form 4 does not show open-market buying or selling. Instead, it reports equity awards coded as “A” transactions, meaning grants or other acquisitions. Both transactions involve restricted stock units granted at a price of $0.00 per share.

How are Thomas W. Sweet’s indirect Medline (MDLN) holdings structured?

Thomas W. Sweet’s indirect Medline holdings are held through Mallard Advisory LLC. The filing shows 12,413 Class A shares associated with a December 16, 2025 restricted stock unit grant held by this LLC, where he serves as a manager with indirect ownership.

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

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Accepted by SEC EDGAR 06/15/2026 - 05:55 PM EDT 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^*

Sweet Thomas W

(Last) (First) (Middle)

C/O MEDLINE INC.

3 LAKES DRIVE

(Street)

NORTHFIELD ILLINOIS 60093

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
12/16/2025

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

X	Form filed by One Reporting Person
	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	12/16/2025		A(1)		12,413	A	(1)	12,413	I	By Mallard Advisory LLC(2)
Class A Common Stock	06/11/2026		A(3)		5,387	A	$0	5,387	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. These securities were acquired in connection with the reclassification of the interests of Medline Holdings, LP prior to the Issuer's initial public offering (as more fully described in the Registration Statement on Form S-1). These securities were previously reported on the Reporting Person's Form 3 filed on December 17, 2025. Represents a grant of restricted stock units ("RSUs") that vest on March 30, 2027.

2. These securities are held by Mallard Advisory LLC, of which the Reporting Person is a manager.

3. Represents a grant of RSUs that vest on the earlier of (i) the first anniversary of the date of grant, and (ii) the next annual meeting of stockholders following the date of grant.

	/s/ Nicole Fritz, Attorney-in-Fact	06/15/2026
	** 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)