Form 4 for MDLN Medline Inc.

Accepted 2026-03-06 00:00:00 ET · period of report 2025-12-16 · accession 0001193125-26-096652 · SEC index · Original document

Summary rows

Aggregated the way they appear in lists: one row per insider, transaction code and security table.

X	Filed	Traded	Ticker	Insider	Title	Type	Price	Qty	Owned	ΔOwn	Value
D	2026-03-06	2026-03-05	MDLN	Miller Stephen L	COO	A - Grant	$0.00	+25.8K	25.8K	New	$0
DMI	2026-03-06	2025-12-16	MDLN	Miller Stephen L	COO	A - Grant	—	+1.55M	272.7K	New	—

Purchase Sale Sale after option exercise All abbreviations

Every reported transaction

#	Table	Security	Date	Code	A/D	Shares	Price	Owned after	Own	Exercise / expiry	Underlying	Footnotes
1	Common	Class A Common Stock	2026-03-05	A	A	25,788	$0.00	25,788	D	—	—
2	Derivative	Incentive Units of Medline Holdings, LP	2025-12-16	A	A	476,031	—	476,031	I See Footnote	$19.01 · — to —	476,031 Class A Common Stock	(F4) These securities were acquired in connection with the reclassification of the interests of Medline Holdings, LP prior to the Issuer's initial public offering (as more fully described in the Registration Statement on Form S-1). These securities were previously reported on the Reporting Person's Form 3 filed on December 17, 2025. (F3) (Continued from Footnote 2 above) Common Units are exchangeable on a one-for-one basis for shares of Class A Common Stock pursuant to the terms of an exchange agreement, dated as of December 16, 2025. These Incentive Units have no expiration date. Such Incentive Units are held indirectly through Medline Management Aggregator LLC. (F5) These securities are held by a trust, of which the Reporting Person is a trustee. (F2) Reflect incentive units of Medline Holdings, LP ("Incentive Units"), which are "profit interests" having economic characteristics similar to stock appreciation rights. Vested Incentive Units are convertible, at the holder's election, into a number of common units of Medline Holdings, LP ("Common Units") generally equal to (a) the product of the number of vested Incentive Units to be converted with a given per unit participation threshold and then-current difference between the per unit value of a Common Unit at the time of the conversion (based on the public trading price of a share of the Issuer's Class A common stock ("Class A Common Stock")) and the per unit participation threshold of such vested Incentive Units divided by (b) the per unit value of a Common Unit at the time of the conversion (based on the public trading price of a share of Class A Common Stock), subject to certain adjustments. (F8) 20% of these Incentive Units have vested, and the remaining 80% vest in four equal annual installments beginning on March 29, 2026.
3	Derivative	Incentive Units of Medline Holdings, LP	2025-12-16	A	A	106,377	—	106,377	I See Footnote	$15.23 · — to —	106,377 Class A Common Stock	(F4) These securities were acquired in connection with the reclassification of the interests of Medline Holdings, LP prior to the Issuer's initial public offering (as more fully described in the Registration Statement on Form S-1). These securities were previously reported on the Reporting Person's Form 3 filed on December 17, 2025. (F3) (Continued from Footnote 2 above) Common Units are exchangeable on a one-for-one basis for shares of Class A Common Stock pursuant to the terms of an exchange agreement, dated as of December 16, 2025. These Incentive Units have no expiration date. Such Incentive Units are held indirectly through Medline Management Aggregator LLC. (F5) These securities are held by a trust, of which the Reporting Person is a trustee. (F2) Reflect incentive units of Medline Holdings, LP ("Incentive Units"), which are "profit interests" having economic characteristics similar to stock appreciation rights. Vested Incentive Units are convertible, at the holder's election, into a number of common units of Medline Holdings, LP ("Common Units") generally equal to (a) the product of the number of vested Incentive Units to be converted with a given per unit participation threshold and then-current difference between the per unit value of a Common Unit at the time of the conversion (based on the public trading price of a share of the Issuer's Class A common stock ("Class A Common Stock")) and the per unit participation threshold of such vested Incentive Units divided by (b) the per unit value of a Common Unit at the time of the conversion (based on the public trading price of a share of Class A Common Stock), subject to certain adjustments. (F7) 40% of these Incentive Units have vested, and the remaining 60% vest in three equal annual installments beginning on April 1, 2026.
4	Derivative	Incentive Units of Medline Holdings, LP	2025-12-16	A	A	692,765	—	692,765	I See Footnote	$14.58 · — to —	692,765 Class A Common Stock	(F4) These securities were acquired in connection with the reclassification of the interests of Medline Holdings, LP prior to the Issuer's initial public offering (as more fully described in the Registration Statement on Form S-1). These securities were previously reported on the Reporting Person's Form 3 filed on December 17, 2025. (F3) (Continued from Footnote 2 above) Common Units are exchangeable on a one-for-one basis for shares of Class A Common Stock pursuant to the terms of an exchange agreement, dated as of December 16, 2025. These Incentive Units have no expiration date. Such Incentive Units are held indirectly through Medline Management Aggregator LLC. (F5) These securities are held by a trust, of which the Reporting Person is a trustee. (F2) Reflect incentive units of Medline Holdings, LP ("Incentive Units"), which are "profit interests" having economic characteristics similar to stock appreciation rights. Vested Incentive Units are convertible, at the holder's election, into a number of common units of Medline Holdings, LP ("Common Units") generally equal to (a) the product of the number of vested Incentive Units to be converted with a given per unit participation threshold and then-current difference between the per unit value of a Common Unit at the time of the conversion (based on the public trading price of a share of the Issuer's Class A common stock ("Class A Common Stock")) and the per unit participation threshold of such vested Incentive Units divided by (b) the per unit value of a Common Unit at the time of the conversion (based on the public trading price of a share of Class A Common Stock), subject to certain adjustments. (F6) 60% of these Incentive Units have vested, and the remaining 40% vest in two equal annual installments beginning on July 1, 2026.
5	Derivative	Incentive Units of Medline Holdings, LP	2025-12-16	A	A	272,725	—	272,725	I See Footnote	$27.68 · — to —	272,725 Class A Common Stock	(F4) These securities were acquired in connection with the reclassification of the interests of Medline Holdings, LP prior to the Issuer's initial public offering (as more fully described in the Registration Statement on Form S-1). These securities were previously reported on the Reporting Person's Form 3 filed on December 17, 2025. (F3) (Continued from Footnote 2 above) Common Units are exchangeable on a one-for-one basis for shares of Class A Common Stock pursuant to the terms of an exchange agreement, dated as of December 16, 2025. These Incentive Units have no expiration date. Such Incentive Units are held indirectly through Medline Management Aggregator LLC. (F5) These securities are held by a trust, of which the Reporting Person is a trustee. (F2) Reflect incentive units of Medline Holdings, LP ("Incentive Units"), which are "profit interests" having economic characteristics similar to stock appreciation rights. Vested Incentive Units are convertible, at the holder's election, into a number of common units of Medline Holdings, LP ("Common Units") generally equal to (a) the product of the number of vested Incentive Units to be converted with a given per unit participation threshold and then-current difference between the per unit value of a Common Unit at the time of the conversion (based on the public trading price of a share of the Issuer's Class A common stock ("Class A Common Stock")) and the per unit participation threshold of such vested Incentive Units divided by (b) the per unit value of a Common Unit at the time of the conversion (based on the public trading price of a share of Class A Common Stock), subject to certain adjustments. (F9) These Incentive Units vest in five equal annual installments beginning on March 28, 2026.