[Form 4] TPG Inc. Insider Trading Activity

Rhea-AI Filing Summary

On 08/08/2025, Todd Sisitsky, a director and President of TPG Inc., was automatically allocated 59,396 units of TPG Partner Holdings, L.P. ("TPH Units") upon forfeiture by a former partner. The allocation is split into 54,027 units held through a personal investment vehicle and 5,369 units held by family trusts, as shown on the Form 4.

The filing states TPH Units are exchangeable one-for-one for cash or, at the issuer's election, shares of Class A common stock under the Amended and Restated Exchange Agreement, subject to conversion adjustments and transfer restrictions. The reporting person disclaims beneficial ownership except to the extent of any pecuniary interest. The form was signed by an attorney-in-fact on 08/12/2025.

Positive

• 59,396 TPH Units were allocated to a company insider (Todd Sisitsky) on 08/08/2025, increasing his reported holdings.
• TPH Units are exchangeable one-for-one for cash or Class A common stock under the Amended and Restated Exchange Agreement, giving the units clear economic value conversion terms.

Negative

• Reporting person disclaims beneficial ownership except to the extent of any pecuniary interest, limiting clarity on actual control over the allocated units.
• Form was signed by an attorney-in-fact (Joann Harris) rather than the reporting person, which may limit direct confirmation from the insider on the filing.

Insights

Financial Analyst

TL;DR: Routine automatic allocation of 59,396 TPH Units to a director/officer; neutral near-term financial impact without further context.

The Form 4 reports an automatic allocation of 59,396 TPH Units on 08/08/2025, split into 54,027 units via a personal investment vehicle and 5,369 via family trusts. Table II shows the units were reported with a price of $0, reflecting an automatic allocation rather than a market purchase. The filing reiterates that TPH Units are exchangeable one-for-one for cash or Class A common stock under the companys exchange agreement. From a financial-forecast perspective, this disclosure is informational and does not by itself change reported revenue or cash flows.

Corporate Governance Expert

TL;DR: Allocation increases reported indirect holdings but the filer disclaims beneficial ownership beyond pecuniary interest; governance effects appear limited.

The filing identifies Todd Sisitsky as both a director and the President and records the allocation of 59,396 TPH Units. The exchange agreement language in the filing notes that upon exchange certain Class B common shares held by related entities would be cancelled and that Class B shares carry ten votes per share but no economic rights. The reporter also expressly disclaims beneficial ownership except for pecuniary interest and the Form 4 was signed by an attorney-in-fact, which are relevant for assessing actual control and voting influence. Based solely on the disclosed facts, the filing signals insider alignment via unit allocation but provides limited governance impact detail.

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

OMB Number:			3235-0287
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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^*

Sisitsky Todd Benjamin

(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)
	President

3. Date of Earliest Transaction (Month/Day/Year)
08/08/2025

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

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)	08/08/2025		A(1)		54,027		(2)	(2)	Class A Common Stock(2)	54,027	$0	10,316,188	I	By Personal Investment Vehicle(3)(4)
TPG Partner Holdings, L.P. Units	(2)	08/08/2025		A(1)		5,369		(2)	(2)	Class A Common Stock(2)	5,369	$0	472,521	I	By Family Trusts(3)(4)

Explanation of Responses:

1. On August 8, 2025, 59,396 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.

3. Because of the relationship between the Reporting Person and the entities 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.

4. 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:

(5) Joann Harris is signing on behalf of Mr. Sisitsky pursuant to the power of attorney dated December 30, 2021, which was previously filed with the Commission.

	/s/ Joann Harris, as attorney-in-fact (5)	08/12/2025
	** 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 Todd Sisitsky report on Form 4 for TPG (TPG)?

The Form 4 reports an automatic allocation of 59,396 TPH Units to Todd Sisitsky on 08/08/2025, split into 54,027 units via a personal investment vehicle and 5,369 units via family trusts.

Are the TPH Units exchangeable into TPG stock?

Yes. The filing states TPH Units are exchangeable one-for-one for cash or, at the issuer's election, shares of Class A common stock, subject to customary adjustments and transfer restrictions.

Did Todd Sisitsky pay for the allocated units?

The Form 4 reports a price of $0 for the allocated units, indicating they were automatically allocated rather than purchased.

Does the filing indicate changes in voting power?

The filing notes that Class B common stock (held by related entities) carries ten votes per share but no economic rights; it also explains certain Class B shares would be cancelled upon exchange, as described in the exchange agreement.

Who signed the Form 4 and when?

The Form 4 was signed by Joann Harris, as attorney-in-fact for Mr. Sisitsky, on 08/12/2025.