Form 4: TPG Inc. Executive Chairman James Coulter Receives Additional Partnership Units Due to Forfeiture
SEC Form 4 Filing
Executive Chairman of TPG Inc., James Coulter, reports the acquisition of additional TPG Partner Holdings, L.P. units due to forfeiture by a former partner.
Summary
- On April 10, 2024, James Coulter, the Executive Chairman of TPG Inc., acquired 81,990 additional units of TPG Partner Holdings, L.P. (TPH Units).
- These units were allocated automatically to Mr. Coulter following their forfeiture by a former partner of Partner Holdings, in accordance with Partner Holdings' limited partnership agreement.
- 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.
- Upon exchange of TPH Units, an equal number of Common Units of TPG Operating Group II, L.P. held by TPG Group Holdings (SBS), L.P. are exchanged, and an equal number of Class B common stock of TPG Inc. are automatically cancelled.
- Mr. Coulter may be deemed to beneficially own these securities to the extent of his pecuniary interest, but he disclaims beneficial ownership beyond that interest.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing a routine transaction related to partnership unit allocation. It doesn't inherently convey positive or negative sentiment.
Future Outlook
The TPH Units are exchangeable for cash or Class A common stock of TPG Inc. in the future, subject to the terms of the Amended and Restated Exchange Agreement.
Industry Context
This filing reflects changes in beneficial ownership, which is a routine part of executive compensation and partnership agreements in publicly traded investment firms like TPG Inc.
Stakeholder Impact
- The transaction may have a minor impact on shareholders due to the potential future exchange of TPH Units for Class A common stock.
Key Dates
| Date | Description |
|---|---|
| 12/29/2021 | Date of power of attorney granted to Bradford Berenson. |
| 11/02/2023 | Date of Amended and Restated Exchange Agreement filed with the SEC. |
| 04/10/2024 | Date of transaction: Allocation of TPH Units to James Coulter. |
| 04/12/2024 | Date of signature on the Form 4 filing. |
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