TPG (TPG) COO Anilu Vazquez-Ubarri receives 9,110 partnership units

Rhea-AI Filing Summary

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

TPG Inc.'s Chief Operating Officer and director Anilu Vazquez-Ubarri reported an automatic award of 9,110 TPG Partner Holdings, L.P. units on February 11, 2026. These units were reallocated to her after being forfeited by a former partner, with no cash price reported for the grant.

Following this transaction, she holds 1,607,781 of these partnership units. Under an existing exchange agreement, each unit can ultimately be exchanged for cash or, at TPG Inc.'s election, one share of Class A common stock, while related Class B shares with ten votes per share would be cancelled with no economic compensation.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Vazquez-Ubarri Anilu

Role Chief Operating Officer

Type	Security	Shares	Price	Value
Grant/Award	TPG Partner Holdings, L.P. Units	9,110	$0.00	--

Holdings After Transaction: TPG Partner Holdings, L.P. Units — 1,607,781 shares (Direct)

Footnotes (1)

1. On February 11, 2026, 9,110 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. 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.

Form 4 Insider Transactions: What Each Field Means →

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

OMB APPROVAL

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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^*

Vazquez-Ubarri Anilu

(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
X	Officer (give title below)		Other (specify below)
	Chief Operating Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/11/2026

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

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
TPG Partner Holdings, L.P. Units	(2)	02/11/2026		A(1)		9,110		(2)	(2)	Class A Common Stock(2)	9,110	$0	1,607,781	D

Explanation of Responses:

1. On February 11, 2026, 9,110 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)	02/13/2026
	** Signature of Reporting Person	Date
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FAQ

What insider transaction did TPG (TPG) report for Anilu Vazquez-Ubarri?

TPG reported that Chief Operating Officer and director Anilu Vazquez-Ubarri received 9,110 TPG Partner Holdings, L.P. units on February 11, 2026. The units were automatically allocated to her after forfeiture by a former partner under the partnership’s limited partnership agreement.

Was the TPG (TPG) insider transaction a market purchase or a grant?

The transaction was a grant or other acquisition, not a market purchase. The 9,110 TPG Partner Holdings, L.P. units were automatically allocated to Anilu Vazquez-Ubarri at a reported price of $0.00, following forfeiture of these units by a former partner.

How many TPG Partner Holdings units does the TPG (TPG) COO hold after the filing?

After the February 11, 2026 transaction, Anilu Vazquez-Ubarri beneficially owns 1,607,781 TPG Partner Holdings, L.P. units. This total includes the 9,110 additional units that were automatically allocated to her upon forfeiture by a former partner, as described in the filing’s footnotes.

How can TPG Partner Holdings, L.P. units be exchanged under TPG (TPG)'s structure?

TPG Partner Holdings, L.P. units are ultimately exchangeable for cash or, at TPG Inc.’s election, for shares of its Class A common stock on a one-for-one basis. The exchange is subject to customary conversion adjustments and transfer restrictions under an Amended and Restated Exchange Agreement.

What happens to TPG (TPG) Class B common stock when TPH Units are exchanged?

When TPH Units are exchanged, an equal number of Common Units of TPG Operating Group II, L.P. and corresponding Class B common stock shares are affected. The related Class B shares, which carry ten votes per share but no economic rights, are automatically cancelled for no additional consideration.

What role does Anilu Vazquez-Ubarri hold at TPG (TPG)?

Anilu Vazquez-Ubarri is both a director and the Chief Operating Officer of TPG Inc. Her dual role is disclosed in the insider transaction report, which details her beneficial ownership of TPG Partner Holdings, L.P. units and the recent automatic allocation of additional units.