Tax withholding trims TPG RE Finance (NYSE: TRTX) director’s share count

Rhea-AI Filing Summary

TPG RE Finance Trust director Julie Hong reported a routine tax-withholding transaction involving company stock. On June 30, 2026, the issuer withheld 6,195 shares of common stock at $8.46 per share to cover Ms. Hong’s tax liability from vesting equity awards. Following this non-market disposition, she directly holds 35,330 common shares. The shares related to vesting under the company’s 2017 and 2025 Equity Incentive Plans, reflecting compensation-related activity rather than an open-market sale.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Hong Julie

Role Director

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	6,195	$8.46	$52K

Holdings After Transaction: Common Stock — 35,330 shares (Direct)

Footnotes (1)

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Key Figures

Shares withheld for taxes: 6,195 shares Transaction price per share: $8.46 per share Shares held after transaction: 35,330 shares +1 more

4 metrics

Shares withheld for taxes 6,195 shares Tax-withholding disposition on June 30, 2026

Transaction price per share $8.46 per share Valuation used for withheld common stock

Shares held after transaction 35,330 shares Director’s direct common stock ownership after withholding

Tax-withholding share count 6,195 shares Reported in transactionSummary as taxWithholdingShares

Key Terms

tax liability, vesting, Equity Incentive Plan, tax-withholding disposition

4 terms

tax liability financial

"for payment of the tax liability incident to the vesting of shares"

vesting financial

"tax liability incident to the vesting of shares of Common Stock granted"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

Equity Incentive Plan financial

"pursuant to the terms of the Issuer's (i) 2017 Equity Incentive Plan and (ii) 2025 Equity Incentive Plan"

An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.

tax-withholding disposition financial

"transaction_action: "tax-withholding disposition" for the F-code transaction"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/02/2026 - 04:15 PM Accepted by SEC EDGAR 07/02/2026 - 04:15 PM Learn about SEC filing dates

FAQ

What insider transaction did TPG RE Finance Trust (TRTX) report for Julie Hong?

TPG RE Finance Trust reported that director Julie Hong had 6,195 common shares withheld to pay taxes on vested equity awards. This was a compensation-related tax-withholding event, not an open-market stock sale, and it adjusted her direct share ownership.

How many TPG RE Finance Trust (TRTX) shares were withheld for taxes from Julie Hong?

The company withheld 6,195 shares of its common stock from Julie Hong. These shares were retained by the issuer to satisfy tax liabilities triggered by the vesting of prior stock grants under its equity incentive plans.

At what price were Julie Hong’s TRTX shares valued for the tax withholding?

The withheld 6,195 shares were valued at $8.46 per share for the tax-withholding transaction. This price is used solely as the transaction value in the filing and does not describe any open-market trade by the director.

How many TPG RE Finance Trust (TRTX) shares does Julie Hong own after this transaction?

After the tax-withholding disposition, Julie Hong directly holds 35,330 shares of TPG RE Finance Trust common stock. This figure reflects her remaining direct ownership following the shares withheld to cover tax obligations on vested equity awards.

Was Julie Hong’s TRTX transaction an open-market sale or a tax withholding?

The transaction was a tax withholding, not an open-market sale. The issuer kept 6,195 vested shares to pay Julie Hong’s tax liability, as described under transaction code F, which covers payment of taxes or exercise costs using company stock.

Which equity plans were involved in Julie Hong’s TRTX tax-withholding event?

The tax-withholding event related to shares granted under TPG RE Finance Trust’s 2017 Equity Incentive Plan and 2025 Equity Incentive Plan. Vested shares from these plans generated the tax liability that was settled by withholding company stock.

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
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^*

Hong Julie

(Last) (First) (Middle)

C/O TPG RE FINANCE TRUST, INC.

888 SEVENTH AVENUE, 35TH FLOOR

(Street)

NEW YORK NEW YORK 10106

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
TPG RE Finance Trust, Inc. [ TRTX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/30/2026		F(1)		6,195	D	$8.46	35,330	D

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

Explanation of Responses:

1. On June 30, 2026, TPG RE Finance Trust, Inc. (the "Issuer") withheld 6,195 shares of common stock ("Common Stock") of the Issuer from Ms. Julie Hong for payment of the tax liability incident to the vesting of shares of Common Stock granted by the Issuer pursuant to the terms of the Issuer's (i) 2017 Equity Incentive Plan and (ii) 2025 Equity Incentive Plan.

Remarks:

(2) Matthew Coleman is signing on behalf of Ms. Hong pursuant to the power of attorney dated July 11, 2022, which was previously filed with the Securities and Exchange Commission.

	/s/ Matthew Coleman, By: Matthew Coleman, on behalf of Julie Hong (2)	07/02/2026
	** 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.
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)