TPG Director Kelvin L. Davis Receives Award of 1,206 TPH Units

What Happened
Kelvin L. Davis, a director of TPG Inc. (TPG), was allocated a total of 1,206 additional TPH units of TPG Partner Holdings, L.P. on August 5, 2026. The filing shows two derivative acquisitions: 4 units and 1,202 units, each reported at $0.00 (total reported value $0) because they were automatically reallocated after forfeiture by a former partner.

Key Details

• Transaction date: August 5, 2026; Form 4 filed August 7, 2026 (appears timely).
• Transaction code: A (Grant/award or other acquisition); reported price per unit: $0.00; total units: 1,206.
• Instrument: TPH Units (units of TPG Partner Holdings, L.P.) — treated as derivative securities in the filing.
• Exchangeability: Per the Issuer’s exchange agreement, TPH Units are exchangeable one-for-one (subject to customary adjustments and restrictions) for cash or, at TPG’s election, shares of Class A common stock. Upon exchange, related common units and Class B shares held by related entities are adjusted/cancelled as described in the filing.
• Ownership disclaimers: The reporting person notes potential deemed beneficial ownership only to the extent of any pecuniary interest and disclaims broader beneficial ownership; filing also cites Rule 16a‑1(a)(4).
• Signature/POA: Filing signed by Jennifer Chu on behalf of Mr. Davis under a power of attorney dated Aug 16, 2025.

Context
This was not an open‑market purchase or sale of public shares but an internal allocation of partnership units (derivative instruments) arising from a forfeiture. The reported $0 value reflects the administrative allocation; any economic value to Mr. Davis depends on future exchange into cash or Class A shares under the exchange agreement and on market conditions at that time. This type of award/assignment is common for partnership-held units and, by itself, does not necessarily indicate a change in the director’s market view.