TPG Director David Trujillo Receives 630 TPH Units

What Happened

• David Trujillo, a director of TPG Inc., was allocated 630 additional units of TPG Partner Holdings, L.P. ("TPH Units") on August 5, 2026. The Form 4 reports the acquisition as a derivative award at $0.00 (no cash paid).
• These TPH Units were allocated automatically upon forfeiture by a former partner of Partner Holdings. Under TPG’s previously disclosed exchange agreement, each TPH Unit is ultimately exchangeable on a one‑for‑one basis for either cash or a share of TPG Class A common stock (at the issuer’s election), subject to customary adjustments and transfer restrictions.

Key Details

• Transaction date: 2026-08-05; Report filed: 2026-08-07 (timely).
• Transaction type/code: A (award/grant or other acquisition), derivative; reported acquisition price $0.00; total reported $0.
• Units received: 630 TPH Units.
• Shares/units owned after transaction: not specified in the Form 4 (not disclosed in the filing excerpt).
• Notable footnotes: F1 explains units were allocated upon forfeiture by a former partner; F2 summarizes the Nov 2, 2023 exchange agreement under which TPH Units can be exchanged one-for-one for cash or Class A shares and related cancellation/exchange mechanics involving Group Holdings and Class B shares.
• Signature: Form signed on behalf of Mr. Trujillo by Jennifer Chu under a power of attorney dated Aug 16, 2025.

Context

• This is an award/allocation of partnership units (a derivative interest), not an open‑market purchase or sale of Class A stock. Such allocations often reflect partner/unitholder accounting or internal vesting/forfeiture rules rather than a direct market signal.
• If Trujillo later exchanges the TPH Units, the exchange consideration will be either cash or Class A shares of TPG on a one‑for‑one basis (subject to the agreement’s adjustments and restrictions).