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  4. [Form 4] TPG Inc. Insider Trading Activity

TPG Inc. (TPG) COO receives 155 Partner Holdings, L.P. units

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Vazquez-Ubarri Anilu reported acquisition or exercise transactions in this Form 4 filing.

TPG Inc. director and Chief Operating Officer Anilu Vazquez‑Ubarri received an automatic allocation of 155 TPG Partner Holdings, L.P. Units on August 5, 2026 at $0.0000 per unit, following a forfeiture by a former partner. After this grant she holds 1,607,936 TPH Units, which are exchangeable on a one‑for‑one basis into cash or, at TPG’s election, Class A common stock, with related Class B shares cancelled for no consideration.

Positive

  • None.

Negative

  • None.
Insider Vazquez-Ubarri Anilu
Role Chief Operating Officer
Type Security Shares Price Value
Grant/Award TPG Partner Holdings, L.P. Units F2, F1 155 $0.00 $0.00
Holdings After Transaction: TPG Partner Holdings, L.P. Units — 1,607,936 shares (Direct)
Footnotes (2)
  1. F1. On August 5, 2026, 155 additional units ("TPH Units") of TPG Partner Holdings, L.P. ("Partner Holdings") were allocated automatically to the Reporting Person in accordance with Partner Holdings' limited partnership agreement upon their forfeiture by a former partner of Partner Holdings.
  2. F2. Pursuant to the Amended and Restated Exchange Agreement filed by TPG Inc. (the "Issuer") with the Securities and Exchange Commission (the "Commission") on November 2, 2023, TPH Units are ultimately exchangeable for cash or, at the Issuer's election, shares of Class A common stock of the Issuer on a one-for-one basis, subject to customary conversion rate adjustments and transfer restrictions (the "exchange consideration"). Upon an exchange of TPH Units, an equal number of Common Units of TPG Operating Group II, L.P. held by TPG Group Holdings (SBS), L.P. ("Group Holdings"), of which Partner Holdings is an indirect limited partner, are exchanged on a one-for-one basis for the exchange consideration, and an equal number of shares of Class B common stock of the Issuer also held by Group Holdings will be automatically cancelled for no additional consideration. Each share of Class B common stock entitles the holder to ten votes per share but carries no economic rights.
TPG Partner Holdings units awarded 155 units Automatically allocated on August 5, 2026 under Partner Holdings’ limited partnership agreement
Holdings after allocation 1,607,936 units Total TPG Partner Holdings, L.P. Units held directly by Anilu Vazquez‑Ubarri after the transaction
Award price $0.0000 per unit Grant, award, or other acquisition of TPG Partner Holdings, L.P. Units
Exchange ratio 1 TPH Unit : 1 Class A share Each TPG Partner Holdings, L.P. Unit is exchangeable for cash or one share of Class A common stock
Class B voting rights 10 votes per share Each share of Class B common stock carries ten votes but no economic rights
TPG Partner Holdings, L.P. Units financial
"155 additional units ("TPH Units") of TPG Partner Holdings, L.P. were allocated"
limited partnership agreement financial
"were allocated automatically to the Reporting Person in accordance with Partner Holdings' limited partnership agreement"
A limited partnership agreement is the legal rulebook that sets out how a limited partnership is run, naming who manages the business, how profits and losses are split, and what rights and responsibilities each partner has. For investors, it matters because it defines who makes decisions, how much liability they carry, how and when they can get their money back, and how returns are distributed—like a household budget and authority chart for a shared venture.
Amended and Restated Exchange Agreement regulatory
"Pursuant to the Amended and Restated Exchange Agreement filed by TPG Inc."
exchange consideration financial
"are exchanged on a one-for-one basis for the exchange consideration"
Class B common stock financial
"an equal number of shares of Class B common stock of the Issuer also held by Group Holdings will be automatically cancelled"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.

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Form 4 Insider Transactions: What Each Field Means →

FAQ

What insider transaction did TPG (TPG) report for Anilu Vazquez‑Ubarri?
Anilu Vazquez‑Ubarri, TPG’s director and Chief Operating Officer, received an automatic allocation of 155 TPG Partner Holdings, L.P. Units on August 5, 2026. These units were reallocated to her after being forfeited by a former partner under the partnership agreement.

How many TPG Partner Holdings units does Anilu Vazquez‑Ubarri hold after this Form 4?
After the reported allocation, Anilu Vazquez‑Ubarri directly holds 1,607,936 TPG Partner Holdings, L.P. Units. This figure reflects the prior balance plus the 155 units automatically allocated to her following another partner’s forfeiture, as provided for in the limited partnership agreement.

Are the TPG Partner Holdings units reported for TPG (TPG) exchangeable into Class A common stock?
Yes. Each reported TPG Partner Holdings, L.P. Unit is ultimately exchangeable on a one‑for‑one basis for cash or, at TPG Inc.’s election, shares of its Class A common stock. Related Class B shares are cancelled for no additional consideration upon such an exchange.

How were the 155 TPG Partner Holdings units acquired by the TPG (TPG) COO?
The 155 units were automatically allocated to Anilu Vazquez‑Ubarri under TPG Partner Holdings’ limited partnership agreement. They became available due to a forfeiture by a former partner, and were then reallocated to her as described in the agreement.

What is the significance of TPG’s Class B common stock in this Form 4?
When TPG Partner Holdings units are exchanged, an equal number of Class B common shares held by TPG Group Holdings are automatically cancelled for no consideration. Each Class B share carries ten votes per share but has no economic rights associated with it.

Was the reported TPG (TPG) insider transaction made under a Rule 10b5‑1 trading plan?
No. The Form 4 did not indicate that this transaction was made pursuant to a Rule 10b5‑1 trading plan. It is reported as an automatic allocation of partnership units under the terms of the TPG Partner Holdings limited partnership agreement.
SEC Form 4
FORM 4UNITED 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*
Vazquez-Ubarri Anilu
(Last)(First)(Middle)
301 COMMERCE STREET, SUITE 3300
(Street)
FORT WORTH TEXAS 76102
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
TPG Inc. [ TPG ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
Chief Operating Officer
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
08/05/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
TPG Partner Holdings, L.P. Units(2)08/05/2026A(1)155 (2) (2)Class A Common Stock(2)155$01,607,936D
Explanation of Responses:
1. On August 5, 2026, 155 additional units ("TPH Units") of TPG Partner Holdings, L.P. ("Partner Holdings") were allocated automatically to the Reporting Person in accordance with Partner Holdings' limited partnership agreement upon their forfeiture by a former partner of Partner Holdings.
2. Pursuant to the Amended and Restated Exchange Agreement filed by TPG Inc. (the "Issuer") with the Securities and Exchange Commission (the "Commission") on November 2, 2023, TPH Units are ultimately exchangeable for cash or, at the Issuer's election, shares of Class A common stock of the Issuer on a one-for-one basis, subject to customary conversion rate adjustments and transfer restrictions (the "exchange consideration"). Upon an exchange of TPH Units, an equal number of Common Units of TPG Operating Group II, L.P. held by TPG Group Holdings (SBS), L.P. ("Group Holdings"), of which Partner Holdings is an indirect limited partner, are exchanged on a one-for-one basis for the exchange consideration, and an equal number of shares of Class B common stock of the Issuer also held by Group Holdings will be automatically cancelled for no additional consideration. Each share of Class B common stock entitles the holder to ten votes per share but carries no economic rights.
Remarks:
(3) Jennifer Chu is signing on behalf of Ms. Vazquez-Ubarri pursuant to the power of attorney dated August 16, 2025, which was previously filed with the Commission.
/s/ Jennifer L. Chu, as attorney-in-fact(3)08/07/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR