TPG Inc. (TPG) director gains 15,435 TPG Partner Holdings units

Rhea-AI Filing Summary

TPG Inc. director Sarvananthan Ganendran indirectly acquired 15,435 TPG Partner Holdings, L.P. units on February 11, 2026 through an automatic allocation at a price of $0 per unit. These units were reallocated to him under the partnership agreement following forfeiture by a former partner.

After this transaction, he indirectly holds 1,424,364 such units through a personal investment vehicle. The 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, with corresponding exchanges of operating group units and cancellation of an equal number of Class B shares that carry ten votes per share but no economic rights.

Ganendran may be deemed to beneficially own these securities only to the extent of his direct or indirect pecuniary interest and expressly disclaims beneficial ownership beyond that interest.

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^*

Sarvananthan Ganendran

(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)		15,435		(2)	(2)	Class A Common Stock(2)	15,435	$0	1,424,364	I	By Personal Investment Vehicle(3)(4)

Explanation of Responses:

1. On February 11, 2026, 15,435 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 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.

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) Jennifer Chu is signing on behalf of Mr. Sarvananthan 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 (5)	02/13/2026
	** 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.
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FAQ

What insider transaction did TPG (TPG) report for Sarvananthan Ganendran?

Sarvananthan Ganendran indirectly acquired 15,435 TPG Partner Holdings, L.P. units on February 11, 2026 at $0 per unit. The units were automatically allocated to him after forfeiture by a former partner, increasing his indirect derivative holdings.

How many TPG Partner Holdings, L.P. units does Ganendran hold after this transaction?

Following the transaction, Ganendran indirectly holds 1,424,364 TPG Partner Holdings, L.P. units through a personal investment vehicle. This figure reflects his updated total for these derivative securities after the automatic allocation on February 11, 2026.

How can the TPG Partner Holdings units related to TPG (TPG) be exchanged?

The TPG Partner Holdings units are ultimately exchangeable for cash or shares of TPG Inc. Class A common stock on a one-for-one basis, at the issuer’s election. Exchanges are subject to customary conversion adjustments and transfer restrictions described in the exchange agreement.

What happens to TPG Inc. Class B common stock when TPH Units are exchanged?

When TPH Units are exchanged, an equal number of Common Units and Class B common stock shares held by TPG Group Holdings are also adjusted. The corresponding Class B shares are automatically cancelled for no additional consideration as part of the exchange mechanics.

What voting and economic rights attach to TPG Inc. Class B common stock?

Each share of TPG Inc. Class B common stock carries ten votes per share but has no economic rights. These shares provide voting power only and are cancelled in equal number when related exchange transactions occur involving TPH Units and Class A shares.

Does Ganendran fully acknowledge beneficial ownership of all reported TPG-related units?

No. Ganendran states he may be deemed to beneficially own the reported securities only to the extent of his pecuniary interest. He disclaims beneficial ownership of any equity securities beyond that economic interest, consistent with Exchange Act Rule 16a-1(a)(4).