[Form 4] TPG Inc. Insider Trading Activity

Rhea-AI Filing Summary

TPG Inc. (TPG)136,000 shares of Class A common stock to a charitable organization, with no payment or other consideration received. The gifted shares were held through a personal investment vehicle reported as indirect ownership.

After this transaction, the reporting person holds 1,998,362 Class A shares directly and 336,712 Class A shares indirectly through a personal investment vehicle. The filing explains that the reporting person may be deemed to beneficially own the indirect holdings only to the extent of any pecuniary interest and expressly disclaims beneficial ownership beyond that interest.

11/21/2025 - 05:56 PM

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

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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^*

Raj Nehal

(Last) (First) (Middle)

301 COMMERCE STREET, SUITE 3300

(Street)

FORT WORTH TX 76102

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
11/20/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

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

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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	11/20/2025		G		136,000(1)	D	$0	336,712	I	By Personal Investment Vehicle(2)(3)
Class A Common Stock								1,998,362	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. Represents a bona fide gift of shares of Class A common stock of TPG Inc. to a charitable organization for which no payment or consideration was received by the Reporting Person.

2. Because of the relationship between the Reporting Person and the entity holding these securities, the Reporting Person may be deemed to beneficially own these securities to the extent of the greater of the Reporting Person's direct or indirect pecuniary interest in the profits, capital accounts or distributions of the holder. The Reporting Person disclaims beneficial ownership of these securities, except to the extent of the Reporting Person's pecuniary interest therein, if any.

3. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), this filing shall not be deemed an admission that the Reporting Person is, for purposes of Section 16 of the Exchange Act or otherwise, the beneficial owner of any equity securities in excess of the Reporting Person's pecuniary interest.

Remarks:

(4) Jennifer L. Chu is signing on behalf of Mr. Raj pursuant to the power of attorney dated August 16, 2025, which was previously filed with the Securities and Exchange Commission.

	/s/ Jennifer L. Chu, as attorney-in-fact (4)	11/21/2025
	** 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.

FAQ

What did the TPG (TPG) insider report on this Form 4?

The Form 4 reports that a TPG Inc. director made a bona fide gift of 136,000 shares of Class A common stock to a charitable organization, receiving no payment or consideration.

How many TPG Inc. Class A shares did the insider gift?

The reporting person gifted 136,000 shares of TPG Inc. Class A common stock to a charitable organization.

How many TPG (TPG) shares does the insider own after the reported gift?

After the gift, the reporting person holds 1,998,362 Class A shares directly and 336,712 Class A shares indirectly through a personal investment vehicle.

What does indirect beneficial ownership mean in this TPG Form 4?

The indirect holdings are owned through a personal investment vehicle. The Form 4 notes the reporting person may be deemed to beneficially own these securities only to the extent of any direct or indirect pecuniary interest.

Did the TPG insider receive any value for the 136,000 shares transferred?

No. The filing specifies the transfer was a bona fide gift of Class A common stock to a charitable organization and that no payment or consideration was received by the reporting person.

Does the TPG Form 4 admit full beneficial ownership of all indirectly held shares?

No. The filing states that, under Rule 16a-1(a)(4), it shall not be deemed an admission that the reporting person is the beneficial owner of equity securities beyond their pecuniary interest.