Morgan Stanley holds 5.8% of Tactile Systems Technology (TCMD)

Rhea-AI Filing Summary

Morgan Stanley and Morgan Stanley Capital Services LLC have disclosed significant passive stakes in Tactile Systems Technology Inc. common stock. As of 12/31/2025, Morgan Stanley reports beneficial ownership of 1,293,289 shares, representing 5.8% of the class, with all voting and dispositive power shared.

Morgan Stanley Capital Services LLC reports beneficial ownership of 1,154,700 shares, or 5.2% of the class, also with shared voting and dispositive power. The firms certify the holdings are in the ordinary course of business and not for the purpose of changing or influencing control of Tactile Systems Technology.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

TACTILE SYSTEMS TECHNOLOGY INC

(Name of Issuer)

Common Stock

(Title of Class of Securities)

87357P100

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 87357P100

1

Names of Reporting Persons

Morgan Stanley

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,208,007.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,293,289.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,293,289.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.8 %

12

Type of Reporting Person (See Instructions)

HC, CO

SCHEDULE 13G

CUSIP No. 87357P100

1

Names of Reporting Persons

Morgan Stanley Capital Services LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,154,700.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,154,700.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,154,700.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.2 %

12

Type of Reporting Person (See Instructions)

BD, CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: TACTILE SYSTEMS TECHNOLOGY INC
(b)	Address of issuer's principal executive offices: 1331 TYLER STREET NE STE 200, MINNEAPOLIS, MN, 55413
Item 2.
(a)	Name of person filing: 1: Morgan Stanley 2: Morgan Stanley Capital Services LLC
(b)	Address or principal business office or, if none, residence: 1: 1585 Broadway, New York, NY 10036 ;2: 1585 Broadway, New York, NY 10036
(c)	Citizenship: 1: Delaware 2: Delaware
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 87357P100
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See the response(s) to Item 9 on the attached cover page(s).
(b)	Percent of class: 5.8 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s).
	(ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s).
	(iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s).
	(iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s).
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99.2
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. * In Accordance with the Securities and Exchange Commission Release No. 34-39538 (January 12, 1998) (the "Release"), this filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by certain operating units (collectively, the "MS Reporting Units") of Morgan Stanley and its subsidiaries and affiliates (collectively, "MS"). This filing does not reflect securities, if any, beneficially owned by any operating units of MS whose ownership of securities is disaggregated from that of the MS Reporting Units in accordance with the Release.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Morgan Stanley

Signature:	Chris O'Hara
Name/Title:	Authorized Signatory, Morgan Stanley
Date:	02/12/2026

Morgan Stanley Capital Services LLC

Signature:	Chris O'Hara
Name/Title:	Authorized Signatory, Morgan Stanley Capital Services LLC
Date:	02/12/2026

Exhibit Information

EXHIBIT NO. EXHIBITS ------------------ ------------------------------------ 99.1 Joint Filing Agreement 99.2 Item 7 Information * Attention. Intentional misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001).

FAQ

What percentage of Tactile Systems Technology (TCMD) shares does Morgan Stanley own?

Morgan Stanley reports beneficial ownership of 5.8% of Tactile Systems Technology common stock, totaling 1,293,289 shares. This stake is held with shared voting and dispositive power and is certified as acquired in the ordinary course of business, not to influence control.

How many Tactile Systems Technology (TCMD) shares does Morgan Stanley Capital Services LLC hold?

Morgan Stanley Capital Services LLC beneficially owns 1,154,700 shares of Tactile Systems Technology, representing 5.2% of the class. The filing states all voting and dispositive power over these shares is shared, and the position is reported as a passive, ordinary-course investment.

Is Morgan Stanley’s stake in Tactile Systems Technology (TCMD) reported as passive or activist?

The stake is reported as a passive investment. Morgan Stanley certifies the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Tactile Systems Technology, consistent with a Schedule 13G filing.

What type of filing did Morgan Stanley make regarding Tactile Systems Technology (TCMD)?

Morgan Stanley filed an amended Schedule 13G/A regarding Tactile Systems Technology common stock. This form is used to report passive beneficial ownership above 5% and confirms the holdings are not intended to change or influence control of the issuer.

Who signed the Tactile Systems Technology (TCMD) Schedule 13G/A for Morgan Stanley?

The filing was signed by Chris O'Hara as Authorized Signatory for both Morgan Stanley and Morgan Stanley Capital Services LLC. The signatory certifies that, after reasonable inquiry, the information in the ownership statement is true, complete, and correct.

What is the key date associated with Morgan Stanley’s Tactile Systems Technology (TCMD) holdings?

The reported beneficial ownership in Tactile Systems Technology is as of 12/31/2025. This date is identified as the event requiring the Schedule 13G/A filing and anchors the disclosed ownership percentages and share amounts for Morgan Stanley and its affiliate.