Mawer exits reportable TNET position with 0.00% in 13G/A

Rhea-AI Filing Summary

TriNet Group, Inc. (TNET): Schedule 13G/A (Amendment No. 3) reports that Mawer Investment Management Ltd. now beneficially owns 0 shares of TriNet common stock, representing 0.00% of the class.

The filing classifies Mawer as an Investment Adviser (IA) and confirms no sole or shared voting or dispositive power. The event date for this amendment is September 30, 2025. The percentage calculation references 48,589,933 shares outstanding as of July 18, 2025, as reported by the issuer. Mawer also certifies the securities were held in the ordinary course and not to influence control.

This update signals that Mawer’s prior reportable position has been reduced to 0%, removing it from large shareholder status.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

TRINET GROUP, INC.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

896288107

(CUSIP Number)

09/30/2025

(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. 896288107

1

Names of Reporting Persons

Mawer Investment Management Ltd.

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

ALBERTA, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

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)

0 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: Based upon 48,589,933 Common Shares of Trinet Group, Inc. (the "Issuer") outstanding as of July 18, 2025, as reported in the Issuer's Form 10-Q filed with the Securities and Exchange Commission on July 25, 2025.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: TRINET GROUP, INC.
(b)	Address of issuer's principal executive offices: One Park Place, Suite 600, Dublin, California, 94568
Item 2.
(a)	Name of person filing: Mawer Investment Management Ltd.
(b)	Address or principal business office or, if none, residence: 600, 517 - 10th Avenue SW Calgary, Alberta, Canada T2R 0A8
(c)	Citizenship: Canada
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 896288107
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: 0
(b)	Percent of class: 0.00 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
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.
	Not Applicable
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.

Mawer Investment Management Ltd.

Signature:	/s/ David Ragan
Name/Title:	David Ragan, Portfolio Manager
Date:	11/05/2025

FAQ

What did Mawer disclose in the TNET Schedule 13G/A?

Mawer reported 0 shares beneficially owned in TriNet, equal to 0.00% of the class.

What is the event date for Mawer’s ownership update in TNET?

The event date is September 30, 2025.

How many TNET shares were outstanding for the percentage calculation?

The filing references 48,589,933 shares outstanding as of July 18, 2025.

What is Mawer’s reporting status and power over TNET shares?

Mawer is an Investment Adviser (IA) with no sole or shared voting or dispositive power.

Does the filing indicate an intent to influence control of TriNet?

No. Mawer certifies holdings were in the ordinary course and not to influence control.

What does 0% ownership mean for Mawer’s filing obligations?

It indicates Mawer is below reporting thresholds for significant ownership, reflected by the 0.00% disclosure.