InnovAge (INNV) 10% Owner Welsh, Carson, Anderson & Stowe XII Disposes 411,515 Shares

What Happened

• Welsh, Carson, Anderson & Stowe XII, L.P. (a reported 10% holder of InnovAge Holding Corp., ticker INNV) reported an other disposition (code J) of 411,515 shares on 2026-09-03. The transaction price is shown as $0.00 and total reported value is $0. According to the filing footnote, this reflects a distribution by TCO Group Holdings, L.P. to a limited partner as consideration for its interest in TCO Group Holdings, L.P. This was a disposition/transfer, not an open-market cash sale.

Key Details

• Transaction date: 2026-09-03; Form filed: 2026-09-08 (filed 5 days after the transaction).
• Transaction type/code: Other acquisition or disposition (J).
• Shares disposed: 411,515; reported price: $0.00; reported value: $0.
• Shares owned after transaction: Not specified in this filing.
• Notable footnotes:
  • F1: Transaction reflects a distribution by TCO Group Holdings, L.P. to a limited partner as consideration for its interest.
  • F2–F4: Describe the WCAS investor structure and disclaimers—various WCAS entities and individuals may have governance roles but disclaim beneficial ownership of the shares held of record by TCO Group Holdings, L.P., except to the extent of any pecuniary interest.
• Timeliness: The Form 4 was filed 5 days after the reported transaction date (later than the typical 2-business-day filing requirement).

Context

• This filing involves a large institutional investor (a 10% holder) and reflects a distribution to a limited partner, not a routine insider cash sale. Such transfers can be administrative or restructuring events and do not necessarily indicate the institution’s view on the stock.
• The filing’s footnotes clarify the complex ownership and control structure; the listed WCAS entities and managers disclaim beneficial ownership of the record shares except for any pecuniary interest.