TC Group, LLC 4

What Happened
Carlyle Group Inc. (reported as a 10% owner) reported large dispositions of Medline (MDLN) Class A common stock on 2026-03-10. Carlyle sold 26,105,840 shares in an open-market or private sale at $41.00 per share, generating about $1.070 billion. The filing also records a separate "other disposition" of 2,113,483 shares, which the footnotes identify as a pro‑rata distribution for no consideration to a limited partner (subject to lock‑up restrictions).

Key Details

• Transaction date: 2026-03-10; Filing date: 2026-03-12 (reports the 3/10 trades).
• Sale (Code S): 26,105,840 shares at $41.00 — proceeds ~$1,070,339,440.
• Other disposition (Code J): 2,113,483 shares — described as a pro‑rata distribution for no consideration (see footnote F5).
• Holdings after reported sale (aggregate across Carlyle affiliates listed in the filing): ~127,567,724 Class A shares (see footnote F4). After the distribution, aggregate holdings shown are ~125,454,241 shares (see footnote F6).
• Notable footnotes: detailed ownership/control structure among many Carlyle affiliates is disclosed (F2, F3); the distribution is subject to a lock‑up (F5). Multiple related Carlyle entities are filing separate Form 4s due to electronic filing limits.
• Nature of insider: Carlyle is an institutional 10% owner, not an individual company executive — institutional dispositions do not necessarily indicate management sentiment.

Context
This filing shows a large institutional sale and a related limited‑partner distribution. Sales and distributions by large shareholders can be liquidity or portfolio-management actions; they are common for private-equity stakeholders. Because this is an institutional (10% owner) transaction, it should be interpreted differently than an insider executive "buying" signal. The filing appears to have been made within the standard Form 4 reporting window.