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The board of directors of TPG Inc . (NASDAQ:TPG) has approved a long-term performance incentive award for the company’s founder and chairman, James Coulter, according to a statement released in a Securities and Exchange Commission filing.
The award, valued at $50 million, will be granted on August 19 and consists of restricted stock units (RSUs) and performance stock units (PRSUs) issued under TPG’s Omnibus Equity Incentive Plan. The RSUs will account for 40% of the award’s face value, while PRSUs will make up the remaining 60%. The number of units will be determined based on the 10-trading day volume weighted average price of TPG’s Class A common stock prior to the grant date.
RSUs are scheduled to vest in four equal installments on July 15 of each year from 2026 through 2029, contingent on Mr. Coulter’s continued service. PRSUs are scheduled to vest in five equal installments from July 15, 2026, through July 15, 2030, and require the achievement of specific stock price hurdles. These hurdles are set at premiums of 150%, 167%, 183%, and 200% above the closing price on the grant date. The first hurdle must be reached by July 15, 2030, while the remaining hurdles must be met by July 15, 2031. Any PRSUs not meeting these conditions will be forfeited.
Upon termination of service, any unvested portion of the award will be forfeited, with certain exceptions in cases such as involuntary termination without cause, resignation for good reason, or termination due to death or disability. In the event of a change in control, vesting and performance conditions may be assessed or accelerated as specified in the award terms.
The award is subject to TPG’s recoupment and Dodd-Frank clawback policies. Dividend equivalents will be paid on vested and unvested RSUs as dividends occur, and on PRSUs only if vesting conditions are met.
This information is based on a press release statement disclosed in a recent SEC filing. With TPG’s next earnings report due in 5 days, investors can access additional insights through InvestingPro, which features 12 key investment tips and extensive financial metrics for more informed decision-making.
In other recent news, TPG Inc. has completed the acquisition of the remaining 70% stake in DIRECTV from AT&T, making DIRECTV a wholly owned subsidiary of TPG Capital. This move allows DIRECTV to focus on enhancing its streaming services. Additionally, TPG Inc. has filed a prospectus for the resale of up to 2.9 million shares by a stockholder, though the company will not gain any proceeds from this transaction.
Analyst firms have been active with TPG Inc., with BNP Paribas (OTC:BNPQY) Exane upgrading the company’s stock rating to Outperform and raising the price target to $69.00, citing a strong track record and future fundraising potential. Wolfe Research also initiated coverage with an Outperform rating and a $60.00 price target, noting TPG’s potential to double its assets under management. Meanwhile, China’s sovereign wealth fund, China Investment Corp., has canceled its planned sale of $1 billion in fund stakes, which included positions with TPG Inc., as part of its strategy to manage exposure to US assets.
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