Form 4: TPG Director David Trujillo Boosts Holdings

TPG Inc. Director David Trujillo increased his beneficial ownership by 2,621 TPG Partner Holdings, L.P. Units following a forfeiture by a former partner.

Summary

• David Trujillo, a Director of TPG Inc., acquired 2,621 additional TPG Partner Holdings, L.P. Units (TPH Units) on November 4, 2025.
• The TPH Units were automatically allocated to Trujillo following their forfeiture by a former partner of Partner Holdings.
• TPH Units are exchangeable for cash or Class A common stock of TPG Inc. on a one-for-one basis, subject to adjustments and transfer restrictions.
• Trujillo's total beneficial ownership of TPH Units now stands at 6,545,104.
• A Power of Attorney dated August 16, 2025, was filed, authorizing Jennifer L. Chu, Joann Harris, and Anilu Vazquez-Ubarri to execute and file SEC reports on behalf of David Trujillo.

Sentiment

Score: 7

Explanation: The increase in a director's beneficial ownership, even through automatic allocation, is generally viewed as a positive indicator of confidence in the company's future, aligning management's interests with shareholders.

Positives

• A director's beneficial ownership increased, which can signal confidence in the company's future.
• The acquisition of units occurred automatically due to a forfeiture, implying no direct cash outlay by the director for these specific units.

Future Outlook

This filing does not contain forward-looking statements or guidance regarding the company's future performance or outlook. It is a report on a past insider transaction.

Industry Context

This filing reports a routine insider transaction, which is common in the financial industry. An increase in a director's beneficial ownership, even through automatic allocation, can be interpreted by the market as a signal of continued confidence in the company's long-term prospects, aligning the director's interests with those of shareholders.

Corporate Governance

Related Party Transactions

• The transaction involves TPG Partner Holdings, L.P. Units, which are part of the company's internal structure and are exchangeable for TPG Inc. Class A common stock or cash, as governed by the Amended and Restated Exchange Agreement.

Stakeholder Impact

• Shareholders may perceive the director's increased beneficial ownership as a positive signal of management's commitment and confidence in the company's value.

Next Steps

• The Power of Attorney remains in full force and effect until the undersigned is no longer required to file Forms 3, 4, 5, and 144 with respect to holdings and transactions in securities issued by TPG Inc.
• TPH Units held by the reporting person are ultimately exchangeable for cash or Class A common stock of TPG Inc. on a one-for-one basis.

Key Dates

Keywords

TPG Inc., David Trujillo, Insider Transaction, Form 4, Beneficial Ownership, TPG Partner Holdings, Director, Equity, Securities