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Tactile Systems Technology, Inc. is reported to have a significant shareholder group led by Cadian Capital entities and Eric Bannasch. As of June 30, 2026, they may have been deemed to beneficially own 1,576,940 shares of common stock, representing 7.0% of the 22,701,241 shares outstanding. These shares are held by Cadian Master Fund L.P. and Cadian Opportunities Master Fund LP, over which Cadian Capital Management, LP has exclusive voting and investment power under Investment Management Agreements. The reporting persons have shared voting and dispositive power over all 1,576,940 shares and no sole voting or dispositive power.
Key Figures
Beneficial ownership:1,576,940 sharesOwnership percentage:7.0%Shares outstanding:22,701,241 shares+3 more
6 metrics
Beneficial ownership1,576,940 sharesShares of TCMD common stock beneficially owned as of June 30, 2026
Ownership percentage7.0%Percent of TCMD common stock class beneficially owned as of June 30, 2026
Shares outstanding22,701,241 sharesTCMD common shares outstanding as of June 30, 2026, used for ownership calculation
Shared voting power1,576,940 sharesShares over which reporting persons may share voting power
Sole voting power0 sharesShares over which reporting persons may have sole voting power
Shared dispositive power1,576,940 sharesShares over which reporting persons may share dispositive power
"may have been deemed to have beneficially owned 1,576,940 shares"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
shared voting powerfinancial
"may have been deemed to have had shared power to vote or to direct the vote"
Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.
dispositive powerfinancial
"shared power to dispose or to direct the disposition of 1,576,940 shares"
Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.
Investment Management Agreementsfinancial
"Pursuant to Investment Management Agreements between the Advisory Clients and the Adviser"
advisory clientsfinancial
"Cadian Master Fund L.P. and Cadian Opportunities Master Fund LP (collectively, the "Advisory Clients")"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What percentage of TCMD does Cadian Capital report owning?
Cadian Capital and related reporting persons may have been deemed to beneficially own 7.0% of Tactile Systems Technology (TCMD) common stock as of June 30, 2026, based on 22,701,241 shares outstanding.
How many TCMD shares are beneficially owned by the reporting persons?
The reporting persons may have been deemed to beneficially own 1,576,940 shares of Tactile Systems Technology (TCMD) common stock as of June 30, 2026, all held through advisory clients of Cadian Capital Management, LP.
Who are the reporting persons in this TCMD Schedule 13G/A?
The reporting persons are Cadian Capital Management, LP, Cadian Capital Management GP, LLC, and Eric Bannasch, who collectively report beneficial ownership and shared voting and dispositive power over certain TCMD shares.
Do the reporting persons have sole voting power over TCMD shares?
No. As of June 30, 2026, each reporting person may have been deemed to have 0 shares with sole voting power and 1,576,940 shares with shared voting power in Tactile Systems Technology (TCMD).
How is voting and investment power over TCMD shares exercised by Cadian?
Voting and investment power over the 1,576,940 TCMD shares is exercised exclusively by Cadian Capital Management, LP under Investment Management Agreements with its advisory clients that directly hold the securities.
What is the ownership context for TCMD’s outstanding shares?
The reported 7.0% beneficial ownership is calculated against 22,701,241 TCMD common shares outstanding as of June 30, 2026, as disclosed in a company Form 10-Q.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 4)
Tactile Systems Technology, Inc.
(Name of Issuer)
Common Stock, par value $0.001 per share
(Title of Class of Securities)
87357P100
(CUSIP Number)
06/30/2026
(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)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
87357P100
1
Names of Reporting Persons
Cadian Capital Management, LP
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
1,576,940.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,576,940.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,576,940.00
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)
7 %
12
Type of Reporting Person (See Instructions)
IA, PN
SCHEDULE 13G
CUSIP Number(s):
87357P100
1
Names of Reporting Persons
Cadian Capital Management GP, 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
1,576,940.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,576,940.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,576,940.00
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)
7 %
12
Type of Reporting Person (See Instructions)
OO, HC
SCHEDULE 13G
CUSIP Number(s):
87357P100
1
Names of Reporting Persons
ERIC BANNASCH
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
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,576,940.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,576,940.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,576,940.00
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)
7 %
12
Type of Reporting Person (See Instructions)
IN, HC
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Tactile Systems Technology, Inc.
(b)
Address of issuer's principal executive offices:
3701 Wayzata Boulevard, Suite 300, Minneapolis, Minnesota, 55416
Item 2.
(a)
Name of person filing:
This statement is filed by (i) Cadian Capital Management, LP, (ii) Cadian Capital Management GP, LLC, and (iii) Eric Bannasch (collectively, the "Reporting Persons").
(b)
Address or principal business office or, if none, residence:
For each of the Reporting Persons: 535 Madison Avenue, 36th Floor, New York, New York 10022
(c)
Citizenship:
(i) Cadian Capital Management, LP is a Delaware limited partnership, (ii) Cadian Capital Management GP, LLC is a Delaware limited liability company, and (iii) Eric Bannasch is a United States citizen.
(d)
Title of class of securities:
Common Stock, par value $0.001 per share
(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:
As of June 30, 2026, each of the Reporting Persons may have been deemed to have beneficially owned 1,576,940 shares of Common Stock, par value $0.001 per share ("Common Stock"), of Tactile Systems Technology, Inc. (the "Issuer"). All securities reported in this Schedule 13G were directly held by Cadian Master Fund L.P. and Cadian Opportunities Master Fund LP (collectively, the "Advisory Clients"), advisory clients of Cadian Capital Management, LP (the "Adviser"). Pursuant to Investment Management Agreements between the Advisory Clients and the Adviser, the Adviser exercises exclusive voting and investment power over securities directly held by the Advisory Clients. Cadian Capital Management GP, LLC is the general partner of the Adviser. Eric Bannasch is the sole managing member of Cadian Capital Management GP, LLC.
(b)
Percent of class:
As of June 30, 2026, each of the Reporting Persons may have been deemed to have beneficially owned approximately 7.0% of the shares of Common Stock of the Issuer outstanding, based on 22,701,241 shares of Common Stock outstanding as of June 30, 2026, as disclosed in the Issuer's Form 10-Q filed with the Securities and Exchange Commission on August 10, 2026.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
As of June 30, 2026, each of the Reporting Persons may have been deemed to have had sole power to vote or to direct the vote of 0 shares of Common Stock.
(ii) Shared power to vote or to direct the vote:
As of June 30, 2026, each of the Reporting Persons may have been deemed to have had shared power to vote or to direct the vote of 1,576,940 shares of Common Stock.
(iii) Sole power to dispose or to direct the disposition of:
As of June 30, 2026, each of the Reporting Persons may have been deemed to have had sole power to dispose or direct the disposition of 0 shares of Common Stock.
(iv) Shared power to dispose or to direct the disposition of:
As of June 30, 2026, each of the Reporting Persons may have been deemed to have had shared power to dispose or to direct the disposition of 1,576,940 shares of Common Stock.
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.
The disclosure regarding the relationships among the Reporting Persons in Item 4 is incorporated by reference herein.
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.
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.
Cadian Capital Management, LP
Signature:
/s/ Eric Bannasch
Name/Title:
Eric Bannasch/Managing Member, Cadian Capital Management GP, LLC, its General Partner
