TPG (TPG) director David Trujillo receives 37,089 partnership units

Rhea-AI Filing Summary

Trujillo David reported acquisition or exercise transactions in this Form 4 filing.

TPG Inc. director David Trujillo reported an automatic award of 37,089 TPG Partner Holdings, L.P. units on February 11, 2026. These units were reallocated to him under the partnership agreement after forfeiture by a former partner, at a stated price of $0 per unit, bringing his directly held derivative units to 6,582,193.

Under an existing exchange agreement, each TPH Unit is ultimately exchangeable for cash or, at TPG Inc.’s election, one share of its Class A common stock, subject to customary adjustments and transfer restrictions. When units are exchanged, an equal number of TPG Operating Group II common units are exchanged and an equal number of Class B shares, which carry ten votes but no economic rights, are cancelled.

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^*

Trujillo David

(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)
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)		37,089		(2)	(2)	Class A Common Stock(2)	37,089	$0	6,582,193	D

Explanation of Responses:

1. On February 11, 2026, 37,089 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 Mr. Trujillo 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
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did TPG (TPG) director David Trujillo report?

David Trujillo reported receiving 37,089 TPG Partner Holdings, L.P. units on February 11, 2026. These units were automatically allocated to him after forfeiture by a former partner, at a stated price of $0 per unit, as part of the partnership agreement.

How many TPG Partner Holdings units does David Trujillo hold after this Form 4?

Following the transaction, David Trujillo beneficially owns 6,582,193 TPG Partner Holdings, L.P. units directly. This figure reflects the addition of 37,089 units that were automatically reallocated to him on February 11, 2026 under the limited partnership agreement.

How can the TPG Partner Holdings (TPH) units reported in this Form 4 be exchanged?

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

What happens to TPG Class B common stock when TPH units are exchanged?

When TPH units are exchanged for cash or Class A shares, an equal number of Class B common shares held by TPG Group Holdings are automatically cancelled. Each Class B share carries ten votes but no economic rights, so the cancellation affects voting power rather than economic ownership.

Was the TPG insider transaction a purchase or an automatic allocation?

The transaction was an automatic allocation, not an open-market purchase. The 37,089 TPH units were allocated to David Trujillo under the partnership agreement after forfeiture by a former partner, and the Form 4 lists a transaction price of $0 per unit.

Does this TPG Form 4 show a derivative or non-derivative security transaction?

The filing reports a derivative security transaction involving TPG Partner Holdings, L.P. units. These derivative units are ultimately exchangeable for cash or shares of TPG Inc.’s Class A common stock, and they are reported in the derivative securities section of the Form 4.