# EDGAR Filing Document

**Accession Number:** 0002061052
**File Stem:** 0001193125-26-096654
**Filing Date:** 2026-3
**Character Count:** 11114
**Document Hash:** e8edbd09160104e096de7abd6ecba023
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-096654.hdr.sgml**: 20260306

**ACCESSION NUMBER**: 0001193125-26-096654

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251216

**FILED AS OF DATE**: 20260306

**DATE AS OF CHANGE**: 20260306

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Boyle James M
- **CENTRAL INDEX KEY:** 0002061052

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-43022
- **FILM NUMBER:** 26731481

**MAIL ADDRESS:**
- **STREET 1:** C/O MEDLINE INC.
- **STREET 2:** THREE LAKES DRIVE
- **CITY:** NORTHFIELD
- **STATE:** IL
- **ZIP:** 60093
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Medline Inc.
- **CENTRAL INDEX KEY:** 0002046386
- **STANDARD INDUSTRIAL CLASSIFICATION:** SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 331845288
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 3 LAKES DRIVE
- **CITY:** NORTHFIELD
- **STATE:** IL
- **ZIP:** 60093
- **BUSINESS PHONE:** 847-949-3000

**MAIL ADDRESS:**
- **STREET 1:** 3 LAKES DRIVE
- **CITY:** NORTHFIELD
- **STATE:** IL
- **ZIP:** 60093

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Boyle James M<br><sub>(Last) (First) (Middle)</sub><br>C/O MEDLINE INC.<br>3 LAKES DRIVE<br><sub>(Street)</sub><br>NORTHFIELD, IL 60093<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-12-16 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_Chief Executive Officer_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Medline Inc. [ MDLN ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Class B Common Stock | 2025-12-16 |  | A<sup>(1)</sup> |  | 24313<sup>(2)</sup> | A | <sup>(1)</sup> | 24313 | D |  |
| Class B Common Stock | 2025-12-16 |  | A<sup>(1)</sup> |  | 514876<sup>(2)</sup> | A | <sup>(1)</sup> | 514876 | I | See Footnote<sup>(3)</sup> |
| Class A Common Stock | 2026-03-05 |  | A<sup>(4)</sup> |  | 31739 | A | $0 | 31739 | D |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Common Units of Medline Holdings, LP | <sup>(5)</sup> | 2025-12-16 |  | A<sup>(1)</sup> |  | 24313 |  | <sup>(5)</sup> | <sup>(5)</sup> | Class A Common Stock | 24313 | <sup>(1)</sup> | 24313 | I | See Footnote<sup>(5)</sup> |
| Common Units of Medline Holdings, LP | <sup>(5)</sup> | 2025-12-16 |  | A<sup>(1)</sup> |  | 514876 |  | <sup>(5)</sup> | <sup>(5)</sup> | Class A Common Stock | 514876 | <sup>(1)</sup> | 514876 | I | See Footnote<sup>(3)(5)</sup> |
| Incentive Units of Medline Holdings, LP | 15.42<sup>(6)(7)</sup> | 2025-12-16 |  | A<sup>(1)</sup> |  | 1201584 |  | <sup>(6)(7)(8)</sup> | <sup>(6)(7)(8)</sup> | Class A Common Stock | 1201584 | <sup>(1)</sup> | 1201584 | I | See Footnote<sup>(6)(7)</sup> |
| Incentive Units of Medline Holdings, LP | 15.23<sup>(6)(7)</sup> | 2025-12-16 |  | A<sup>(1)</sup> |  | 340407 |  | <sup>(6)(7)(9)</sup> | <sup>(6)(7)(9)</sup> | Class A Common Stock | 340407 | <sup>(1)</sup> | 340407 | I | See Footnote<sup>(6)(7)</sup> |
| Incentive Units of Medline Holdings, LP | 16.49<sup>(6)(7)</sup> | 2025-12-16 |  | A<sup>(1)</sup> |  | 1146379 |  | <sup>(6)(7)(10)</sup> | <sup>(6)(7)(10)</sup> | Class A Common Stock | 1146379 | <sup>(1)</sup> | 1146379 | I | See Footnote<sup>(6)(7)</sup> |
| Incentive Units of Medline Holdings, LP | 19.01<sup>(6)(7)</sup> | 2025-12-16 |  | A<sup>(1)</sup> |  | 252481 |  | <sup>(6)(7)(11)</sup> | <sup>(6)(7)(11)</sup> | Class A Common Stock | 252481 | <sup>(1)</sup> | 252481 | I | See Footnote<sup>(6)(7)</sup> |
| Incentive Units of Medline Holdings, LP | 27.68<sup>(6)(7)</sup> | 2025-12-16 |  | A<sup>(1)</sup> |  | 183699 |  | <sup>(6)(7)(12)</sup> | <sup>(6)(7)(12)</sup> | Class A Common Stock | 183699 | <sup>(1)</sup> | 183699 | I | See Footnote<sup>(6)(7)</sup> |
| Incentive Units of Medline Holdings, LP | 15.42<sup>(6)(7)</sup> | 2025-12-16 |  | A<sup>(1)</sup> |  | 1057309 |  | <sup>(6)(7)(13)</sup> | <sup>(6)(7)(13)</sup> | Class A Common Stock | 1057309 | <sup>(1)</sup> | 1057309 | I | See Footnote<sup>(3)(6)(7)</sup> |

---

### Footnotes:

(1) 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.

(2) 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 of Medline Holdings, LP ("Common Units") held. Upon an exchange of Common Units for shares of the Issuer's Class A common stock ("Class A Common Stock"), an equivalent number of shares of Class B Common Stock held by such holder will be automatically cancelled.

(3) These securities are held by a family trust of which the Reporting Person's spouse is the trustee.

(4) Represents a grant of restricted stock units ("RSUs"), of which 25% vest on June 15, 2026 and the remaining 75% vest in three equal annual installments beginning on March 1, 2027.

(5) Pursuant to the terms of an exchange agreement, dated as of December 16, 2025 (the "Exchange Agreement"), holders have the right to exchange their Common Units for shares of the 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. Such Common Units are held indirectly through Medline Management Aggregator LLC.

(6) 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 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 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.

(7) (Continued from Footnote 6 above) Common Units are exchangeable on a one-for-one basis for shares of Class A Common Stock pursuant to the terms of the Exchange Agreement. These Incentive Units have no expiration date. Such Incentive Units are held indirectly through Medline Management Aggregator LLC.

(8) 62% of these Incentive Units have vested, and the remaining 38% vest on October 21, 2026.

(9) 40% of these Incentive Units have vested, and the remaining 60% vest in three equal annual installments beginning on April 1, 2026.

(10) 40% of these Incentive Units have vested, and the remaining 60% vest in three equal annual installments beginning on October 1, 2026.

(11) 20% of these Incentive Units have vested, and the remaining 80% vest in four equal annual installments beginning on March 29, 2026.

(12) These Incentive Units vest in five equal annual installments beginning on March 28, 2026.

(13) These Incentive Units are fully vested.

**Signature:** /s/ Nicole Fritz, Attorney-in-Fact  
**Date:** 2026-03-06

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**