TC Group Cayman Investment Holdings, L.P. - 04 Mar 2026 Form 4 Insider Report for Medline Inc. (MDLN)

Role
10%+ Owner
Signature
TC Group Cayman Investment Holdings, L.P., By: CG Subsidiary Holdings L.L.C., its general partner, By: /s/ Anne K. Frederick, Managing Director
Issuer symbol
MDLN
Transactions as of
04 Mar 2026
Net transactions value
$0
Form type
4
Filing time
06 Mar 2026, 18:59:56 UTC
Previous filing
21 Jan 2026
Next filing
12 Mar 2026
SEC
View on sec.gov

Reporting Owners (6)

Name Relationship Address Signature Signature date CIK
TC Group Cayman Investment Holdings, L.P. 10%+ Owner C/O WALKERS CORPORATE LIMITED, 190 ELGIN AVENUE, GEORGE TOWN, CAYMAN ISLANDS TC Group Cayman Investment Holdings, L.P., By: CG Subsidiary Holdings L.L.C., its general partner, By: /s/ Anne K. Frederick, Managing Director 06 Mar 2026 0001475444
Carlyle Holdings II GP L.L.C. 10%+ Owner C/O THE CARLYLE GROUP INC., 1001 PENNSYLVANIA AVE. NW SUITE 220 S, WASHINGTON, Carlyle Holdings II GP L.L.C., By: The Carlyle Group Inc., its sole member, By: /s/ Anne K. Frederick, Corporate Secretary 06 Mar 2026 0001548629
Carlyle Holdings II L.L.C. 10%+ Owner C/O THE CARLYLE GROUP INC., 1001 PENNSYLVANIA AVE. NW SUITE 220 S, WASHINGTON, Carlyle Holdings II L.L.C., By: /s/ Anne K. Frederick, Managing Director 06 Mar 2026 0001548630
TC Group Cayman Investment Holdings Sub L.P. 10%+ Owner C/O WALKERS CORPORATE LIMITED, 190 ELGIN AVENUE,, GEORGE TOWN,, CAYMAN ISLANDS TC Group Cayman Investment Holdings Sub L.P., By: TC Group Cayman Investment Holdings, L.P., its general partner, By: CG Subsidiary Holdings L.L.C., its general partner, By: /s/ Anne K. Frederick, Managing Director 06 Mar 2026 0001548636
TC Group VII, L.L.C. 10%+ Owner C/O THE CARLYLE GROUP INC., 1001 PENNSYLVANIA AVE. NW SUITE 220 S, WASHINGTON, TC Group VII, L.L.C., By: /s/ Jeremy Anderson, Vice President 06 Mar 2026 0001791662
TC Group VII, L.P. 10%+ Owner C/O THE CARLYLE GROUP INC., 1001 PENNSYLVANIA AVE. NW SUITE 220 S, WASHINGTON, TC Group VII, L.P., By: TC Group VII, L.L.C., its general partner, By: /s/ Jeremy Anderson, Vice President 06 Mar 2026 0001791752

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MDLN Class A Common Stock Conversion of derivative security +8,085,116 +5.6% 152,460,797 04 Mar 2026 See footnotes F1, F2, F3, F4, F5, F6
transaction MDLN Class B Common Stock Other -8,085,116 -11% 62,842,239 04 Mar 2026 See footnotes F3, F4, F5, F6, F7, F8
transaction MDLN Class A Common Stock Conversion of derivative security +1,212,767 +0.8% 153,673,564 05 Mar 2026 See footnotes F2, F3, F4, F9, F10, F11
transaction MDLN Class B Common Stock Other -1,212,767 -1.9% 61,629,472 05 Mar 2026 See footnotes F3, F4, F7, F8, F10, F11

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction MDLN Common Units of Medline Holdings, LP Conversion of derivative security -8,085,116 -11% $0.000000* 62,842,239 04 Mar 2026 Class A Common Stock 8,085,116 See footnotes F1, F2, F3, F4, F5, F6
transaction MDLN Common Units of Medline Holdings, LP Conversion of derivative security -1,212,767 -1.9% $0.000000* 61,629,472 05 Mar 2026 Class A Common Stock 1,212,767 See footnotes F2, F3, F4, F9, F10, F11
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects the following exchange of common units of Medline Holdings, LP ("Common Units") to an equivalent number of shares of the Issuer's Class A common stock ("Class A Common Stock") on March 4, 2026: (i) 1,752,046 Common Units to Class A Common Stock held by CP Circle UNLV Holdco, L.P. and (ii) 6,333,070 Common Units to Class A Common Stock held by CP Circle ML-1 Holdco, L.P.
F2 Pursuant to the terms of an exchange agreement, dated as of December 16, 2025, holders have the right to exchange their Common Units for shares of Class A Common Stock on a one-for-one basis, subject to customary conversion rate adjustments for stock splits, stock dividends and reclassifications. These exchange rights do not expire.
F3 The Carlyle Group Inc., a publicly traded company listed on Nasdaq, is the sole shareholder of Carlyle Holdings I GP Inc., which is the sole member of Carlyle Holdings I GP Sub L.L.C., which is the general partner of Carlyle Holdings I L.P., which, with respect to the securities managed by TC Group VII S1, L.P. and CPEP GP, LLC, is the managing member of CG Subsidiary Holdings L.L.C., which is the managing member of TC Group, L.L.C., which is the general partner of TC Group Sub L.P., which is the managing member of TC Group VII S1, L.L.C., which is the general partner of TC Group VII S1, L.P., which is the general partner of each of Carlyle Mozart Coinvestment Holdings, L.P., Carlyle Mozart Coinvestment UNLV Holdco, L.P. and CP Circle UNLV Holdco, L.P. CG Subsidiary Holdings L.L.C. is also the managing member of CPEP GP, LLC, which is the general partner of CPEP Circle Holdings L.P.
F4 The Carlyle Group Inc. is also the sole member of Carlyle Holdings II GP L.L.C., which is the managing member of Carlyle Holdings II L.L.C., which, with respect to the securities managed by TC Group VII, L.P., is the managing member of CG Subsidiary Holdings L.L.C., which is the general partner of TC Group Cayman Investment Holdings, L.P., which is the general partner of TC Group Cayman Investment Holdings Sub L.P., which is the sole member of TC Group VII, L.L.C., which is the general partner of TC Group VII, L.P., which is the managing member of CP Circle ML Holdco GP, LLC, which is the general partner of each of CP Circle ML-7 Holdco, L.P., CP Circle ML-6 Holdco, L.P., CP Circle ML-5 Holdco, L.P., CP Circle ML-4 Holdco, L.P., CP Circle ML-3 Holdco, L.P. and CP Circle ML-2 Holdco, L.P. TC Group VII, L.P. is also the managing member of CP Circle ML-1 Holdco GP, LLC, which is the general partner of CP Circle ML-1 Holdco, L.P.
F5 Following the transactions reported on March 4, 2026, reflects (i) 16,125,094 shares of Class A Common Stock held by Carlyle Mozart Coinvestment Holdings, L.P., (ii) 15,414,514 shares of Class A Common Stock held by Carlyle Mozart Coinvestment UNLV Holdco, L.P., (iii) 838,505 shares of Class A Common Stock held by CPEP Circle Holdings L.P., (iv) 17,636,833 shares of Class A Common Stock held by CP Circle ML-7 Holdco, L.P., (v) 2,440,275 shares of Class A Common Stock held by CP Circle ML-6 Holdco, L.P., (vi) 6,615,133 shares of Class A Common Stock held by CP Circle ML-5 Holdco, L.P., (vii) 26,655,381 shares of Class A Common Stock held by CP Circle ML-4 Holdco, L.P., (viii) 58,369,466 shares of Class A Common Stock held by CP Circle ML-3 Holdco, L.P., (ix) 268,411 shares of Class A Common Stock held by CP Circle ML-2 Holdco, L.P., (continued in footnote 6)
F6 (continued from footnote 5) (x) 1,754,661 shares of Class A Common Stock and 13,617,928 Common Units and shares of Class B Common Stock held by CP Circle UNLV Holdco, L.P. and (xi) 6,342,524 shares of Class A Common Stock and 49,224,311 Common Units and shares of Class B Common Stock held by CP Circle ML-1 Holdco, L.P.
F7 Shares of the Issuer's Class B common stock ("Class B Common Stock") have no economic value and have one vote per share. One share of Class B Common Stock is issued for each Common Unit held. Upon an exchange of Common Units for shares of Class A Common Stock, an equivalent number of shares of Class B Common Stock held by such holder will be automatically cancelled.
F8 Represents a cancellation of shares of Class B Common Stock held by CP Circle UNLV Holdco, L.P. and CP Circle ML-1 Holdco, L.P. as a result of an exchange of an equivalent number of Common Units to shares of Class A Common Stock.
F9 Reflects the following exchange of Common Units to an equivalent number of shares of Class A Common Stock on March 5, 2026: (i) 262,807 Common Units to Class A Common Stock held by CP Circle UNLV Holdco, L.P. and (ii) 949,960 Common Units to Class A Common Stock held by CP Circle ML-1 Holdco, L.P.
F10 Following the transactions reported on March 5, 2026, reflects (i) 16,125,094 shares of Class A Common Stock held by Carlyle Mozart Coinvestment Holdings, L.P., (ii) 15,414,514 shares of Class A Common Stock held by Carlyle Mozart Coinvestment UNLV Holdco, L.P., (iii) 838,505 shares of Class A Common Stock held by CPEP Circle Holdings L.P., (iv) 17,636,833 shares of Class A Common Stock held by CP Circle ML-7 Holdco, L.P., (v) 2,440,275 shares of Class A Common Stock held by CP Circle ML-6 Holdco, L.P., (vi) 6,615,133 shares of Class A Common Stock held by CP Circle ML-5 Holdco, L.P., (vii) 26,655,381 shares of Class A Common Stock held by CP Circle ML-4 Holdco, L.P., (viii) 58,369,466 shares of Class A Common Stock held by CP Circle ML-3 Holdco, L.P., (ix) 268,411 shares of Class A Common Stock held by CP Circle ML-2 Holdco, L.P., (continued in footnote 11)
F11 (continued from footnote 10) (x) 2,017,468 shares of Class A Common Stock and 13,355,121 Common Units and shares of Class B Common Stock held by CP Circle UNLV Holdco, L.P. and (xi) 7,292,484 shares of Class A Common Stock and 48,274,351 Common Units and shares of Class B Common Stock held by CP Circle ML-1 Holdco, L.P.

Remarks:

Due to the limitations of the electronic filing system, The Carlyle Group Inc., Carlyle Holdings I GP Inc., Carlyle Holdings I GP Sub L.L.C., Carlyle Holdings I L.P., TC Group, L.L.C., TC Group Sub L.P., TC Group VII S1, L.L.C., TC Group VII S1, L.P., Carlyle Mozart Coinvestment Holdings, L.P., Carlyle Mozart Coinvestment UNLV Holdco, L.P., CP Circle UNLV Holdco, L.P., CPEP GP, LLC, CPEP Circle Holdings L.P., CP Circle ML-1 Holdco GP, LLC, CP Circle ML-1 Holdco, L.P., CP Circle ML Holdco GP, LLC, CP Circle ML-2 Holdco, L.P., CP Circle ML-3 Holdco, L.P., CP Circle ML-4 Holdco, L.P., CP Circle ML-5 Holdco, L.P., CP Circle ML-6 Holdco, L.P. and CP Circle ML-7 Holdco, L.P. are filing a separate Form 4.