Davidson Martin 4

What Happened Davidson Martin, Chief Accounting Officer of TPG Inc., received an automatic allocation of 3,514 TPH units (derivative units of TPG Partner Holdings, L.P.) on February 11, 2026. The Form 4 reports the acquisition as an award/grant at $0.00 per unit (no cash paid). This was not a market purchase or sale but an allocation of partnership units.

Key Details

• Transaction date: February 11, 2026; Filing date: February 13, 2026 (timely filing).
• Reported transaction: Grant/acquisition (derivative) of 3,514 TPH units at $0.00.
• Post-transaction holdings: Total holdings after the allocation are not specified in this filing.
• Footnote summary:
  • F1: The 3,514 units were automatically allocated upon their forfeiture by a former partner of Partner Holdings.
  • F2: TPH units are exchangeable, on a one-for-one basis (subject to adjustment and restrictions), for cash or, at TPG’s election, shares of Class A common stock under the Issuer’s exchange agreement; corresponding common units and Class B shares held by related entities are adjusted/cancelled as part of the exchange mechanics.
• Administrative note: The Form 4 was signed on behalf of Mr. Martin by Jennifer Chu under a power of attorney dated August 16, 2025.

Context These TPH units are partnership/derivative units rather than public shares; they can potentially be exchanged for cash or Class A common stock in the future under the Amended and Restated Exchange Agreement. The allocation appears to be an internal/administrative award (automatic allocation on forfeiture) and does not represent an open‑market buy or sale.