CP Circle Holdings, L.P. 4

What Happened
CP Circle Holdings, L.P., a reported 10% owner of Medline (MDLN), disposed/transferred a total of 30,742,563 shares on February 11, 2026. The Form 4 reports three disposition entries: 2,615 shares, 15,369,974 shares, and a 15,369,974-share derivative disposition. All transfers show no price (N/A) and, per the filing, were transfers to an affiliated entity for no consideration. After these transactions CP Circle Holdings no longer beneficially owns any Medline securities.

Key Details

• Transaction date: February 11, 2026; Form 4 filed February 13, 2026 (filed within the normal Form 4 window).
• Reported disposals: 2,615 shares; 15,369,974 shares; and a derivative disposition of 15,369,974 shares — total 30,742,563 shares. All prices reported as N/A.
• Shares owned after transaction: 0 (CP Circle Holdings no longer beneficially owns securities of the issuer; footnote F2).
• Notable footnotes: F1 — transfers were to an affiliated entity for no consideration and the affiliate is bound by a lock‑up agreement; F3/F4 — Class B common stock has no economic value and one vote per share, and Common Units can be exchanged one‑for‑one for Class A common stock under an exchange agreement dated Dec 16, 2025.
• One entry is recorded as a derivative disposition; the filing does not show a market sale or cash proceeds.

Context
This filing reflects institutional transfers to an affiliate and internal corporate/share-class mechanics (including Class B/Common Unit exchange rights), not an open‑market sale. For retail investors, note that transfers for no consideration and derivative entries are often administrative or structural in nature and do not necessarily signal trading-based market sentiment.