8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 3, 2026

The Carlyle Group Inc.

(Exact name of registrant as specified in its charter)

Delaware	001-35538	45-2832612
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)
1001 Pennsylvania Avenue, NW
Washington, DC 20004-2505
(Address of Principal Executive Offices, Including Zip Code)

(202) 729-5626

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any

of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock	CG	The Nasdaq Global Select Market
4.625% Subordinated Notes due 2061 of Carlyle Finance L.L.C.	CGABL	The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405

of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying

with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On June 3, 2026, The Carlyle Group Inc. (the “Company”) held its 2026 Annual Meeting of Shareholders (the “Annual

Meeting”). As further described in Item 5.07 below, at the Annual Meeting, the Company’s shareholders approved The Carlyle

Group Inc. Amended and Restated 2012 Equity Incentive Plan (the “Equity Incentive Plan”), which had been previously

approved by the Company’s Board of Directors (the “Board”), subject to shareholder approval.

A description of the Equity Incentive Plan is set forth in the section entitled “Item 3. Approval of The Carlyle Group Inc.

Amended and Restated 2012 Equity Incentive Plan” starting on page 33 of the Company’s Definitive Proxy Statement on

Schedule 14A, filed with the U.S. Securities and Exchange Commission on April 23, 2026 (the “Proxy Statement”), which is

incorporated herein by reference. The description is qualified in its entirety by reference to the Equity Incentive Plan, a copy of

which is attached hereto as Exhibit 10.1.

Item 5.07 Submission of Matters to a Vote of Security Holders.

On June 3, 2026, the Company held its Annual Meeting. The Company’s shareholders considered four proposals, each of which

is described in more detail in the Proxy Statement. The final voting results for each matter submitted to a vote of shareholders at

the Annual Meeting were as follows:

Item 1.  Election to Our Board of Directors of Thirteen Director Nominees for a One-Year Term

	FOR	WITHHELD	BROKER NON-VOTES
William E. Conway, Jr.	294,669,209	7,650,436	30,694,352
David M. Rubenstein	294,696,355	7,623,290	30,694,352
Daniel A. D’Aniello	294,883,924	7,435,721	30,694,352
Harvey M. Schwartz	299,883,948	2,435,697	30,694,352
Afsaneh Beschloss	300,033,486	2,286,159	30,694,352
Sharda Cherwoo	299,762,668	2,556,977	30,694,352
Linda H. Filler	299,512,926	2,806,719	30,694,352
Lawton W. Fitt	288,425,619	13,894,026	30,694,352
James H. Hance, Jr.	294,784,933	7,534,712	30,694,352
Mark S. Ordan	293,285,680	9,033,965	30,694,352
Derica W. Rice	294,488,714	7,830,931	30,694,352
William J. Shaw	294,377,755	7,941,890	30,694,352
Anthony Welters	287,620,659	14,698,986	30,694,352

Item 2.  Ratification of Ernst & Young LLP as Our Independent Registered Public Accounting Firm for 2026

FOR	AGAINST	ABSTAIN	BROKER NON-VOTES
325,337,355	7,384,983	291,659	—

Item 3. Approval of The Carlyle Group Inc. Amended and Restated 2012 Equity Incentive Plan

FOR	AGAINST	ABSTAIN	BROKER NON-VOTES
252,707,398	49,426,621	185,626	30,694,352

Item 4.  Non-Binding Vote to Approve Named Executive Officer Compensation (“Say-on-Pay”)

FOR	AGAINST	ABSTAIN	BROKER NON-VOTES
246,902,606	54,984,239	432,800	30,694,352

Item 9.01 Financial Statements and Exhibits.

(d)Exhibits.

Exhibit No.	Description
10.1+	The Carlyle Group Inc. Amended and Restated 2012 Equity Incentive Plan.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

+ Management contract or compensatory plan or arrangement in which directors and/or executive officers are eligible to participate.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on

its behalf by the undersigned hereunto duly authorized.

	The Carlyle Group Inc.
Date: June 5, 2026	By:	/s/ Jeffrey W. Ferguson
	Name:	Jeffrey W. Ferguson
	Title:	General Counsel

EX-10.1

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Exhibit 10.1

THE CARLYLE GROUP INC. AMENDED AND RESTATED

2012 EQUITY INCENTIVE PLAN

(as amended through June 3, 2026)

1.Purpose of the Plan

The Carlyle Group Inc. Amended and Restated 2012 Equity Incentive Plan (as amended

through June 3, 2026) (the “Plan”) is designed to promote the long term financial interests and

growth of The Carlyle Group Inc., a Delaware corporation and its Affiliates by (i) attracting and

retaining senior professionals, employees, consultants, directors, members, partners and other

service providers of the Company or any of its Affiliates and (ii) aligning the interests of such

individuals with those of the Company and its Affiliates by providing them with equity-based

awards based on the Company’s shares of common stock, par value $0.01 per share (the

“Shares”). 

2.Definitions

The following capitalized terms used in the Plan have the respective meanings set forth in

this Section:

(a)Act:  The U.S. Securities Exchange Act of 1934, as amended, or any successor

thereto.

(b)Administrator:  The Compensation Committee of the Board, or a subcommittee

thereof, or, if the Board shall so determine, the Board or other such committee thereof, to whom

authority to administer the Plan has been delegated pursuant to Section 4 of the Plan.

(c)Affiliate:  With respect to any Person, any other Person that directly or indirectly

through one or more intermediaries controls, is controlled by or is under common control with

the Person in question. As used herein, the term “Control” means the possession, direct or

indirect, of the power to direct or cause the direction of the management and policies of a Person,

whether through ownership of voting securities, by contract or otherwise.

(d)Award:  Individually or collectively, any Option, Share Appreciation Right, or

Other Share-Based Awards based on or relating to the Shares issuable under the Plan.

(e)Beneficial Owner:  A “beneficial owner”, as such term is defined in Rule 13d-3

under the Act (or any successor rule thereto).

(f)Board:  The board of directors of the Company.

(g)Change in Control:  (i) The occurrence of any Person, other than an Affiliate of

the Company, becoming the “beneficial owner” (as defined in Rules 13d-3 and l3d-5 under the

Act), directly or indirectly, of 50% or more of the total voting power of Shares, including by way

of merger, consolidation or otherwise; or (ii) during any period of two consecutive years,

Continuing Directors cease for any reason to constitute a majority of the directors serving on the

Board.  For purposes of this definition, “Continuing Director” means any member of the Board

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(a) serving on the Board at the beginning of the relevant period of two consecutive years referred

to in the immediately preceding sentence, (b) appointed or elected to the Board by the members

of the Board or (c) whose appointment or election to the Board by such Board, or nomination for

election to the Board by the Company’s shareholders, was approved by a majority of the

directors of the Board then still serving at the time of such approval who were so serving at the

beginning of the relevant period of two consecutive years, were so appointed or elected by the

members of the Board or whose appointment or election or nomination for election was so

approved.

(h)Code:  The U.S. Internal Revenue Code of 1986, as amended, or any successor

thereto.

(i)Company:  The Carlyle Group Inc., a Delaware corporation, and any successor

corporation thereto.

(j)Disability:  The term “Disability” shall have the meaning as provided under

Section 409A(a)(2)(C)(i) of the Code.  Notwithstanding the foregoing or any other provision of

this Plan, the definition of Disability (or any analogous term) in an Award agreement shall

supersede the foregoing definition; provided, however, that if no definition of Disability or any

analogous term is set forth in such agreement, the foregoing definition shall apply. 

(k)Effective Date:  May 2, 2012. 

(l)Fair Market Value:  Of a Share on any given date means (i) the closing sale price

per Share as quoted on the National Association of Securities Dealers Automated Quotation

System (“Nasdaq”) on that date (or, if no closing sale price is reported, the last reported sale

price), (ii) if the Shares are not listed for trading on Nasdaq, the closing sale price (or, if no

closing sale price is reported, the last reported sale price) as reported on that date in composite

transactions for the principal national securities exchange registered pursuant to Section 6(g) of

the Act on which the Shares are listed, (iii) if the Shares are not so listed on a national securities

exchange, the last quoted bid price for the Shares on that date in the over-the-counter market as

reported by OTC Markets Group Inc. or a similar organization, or (iv) if the Shares are not so

quoted by OTC Markets Group Inc. or a similar organization, the average of the mid-point of the

last bid and ask prices for the Shares on that date from a nationally recognized independent

investment banking firm selected by the Administrator for this purpose. 

(m)Minimum Vesting Condition:  The requirement, with respect to any Award, that

vesting of (or lapsing of restrictions on) such Award does not occur any more rapidly than on the

first anniversary of the grant date for such Award (or the date of commencement of employment

or service, in the case of a grant made in connection with a Participant’s commencement of

employment or service), other than (i) in connection with a Change in Control, (ii) as a result of a

Participant’s death or Disability or (iii) as a result of a Participant’s retirement or involuntary or

constructive termination without cause; provided, that such Minimum Vesting Condition will not

be required on Awards covering, in the aggregate, a number of Shares not to exceed 5% of the

Absolute Share Limit, as defined in Section 3.

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(n)Option:  A nonqualified option to purchase Shares granted pursuant to Section 6

of the Plan.

(o)Option Price:  The purchase price per Share of an Option, as determined pursuant

to Section 6(a) of the Plan.

(p)Other Share-Based Awards:  Awards granted pursuant to Section 8 of the Plan.

(q)Participant:  A senior professional, employee, consultant, director, member,

partner or other service provider of the Company or of any of its Affiliates who is selected by the

Administrator to participate in the Plan. 

(r)Person:  A “person”, as such term is used for purposes of Section 13(d) or 14(d)

of the Act (or any successor section thereto).

(s)Plan:  The Carlyle Group Inc. Amended and Restated 2012 Equity Incentive Plan.

(t)Services:  Shall be deemed to refer to (i) a Participant’s employment if the

Participant is an employee of the Company or any of its Affiliates, (ii) a Participant’s services as

a consultant, member or partner, if the Participant is consultant to, or partner of, the Company or

of any of its Affiliates, and (iii) a Participant’s services as an non-employee director, if the

Participant is a non-employee member of the Board; provided, however, that with respect to any

Award subject to Section 409A of the Code, a Participant’s termination of Services shall be

deemed to occur upon the date of the Participant’s separation from service within the meaning of

Section 409A of the Code. 

(u)Share Appreciation Right:  A share appreciation right granted pursuant to Section

7 of the Plan.

(v)2021 Restatement Date:  June 1, 2021.

(w)2026 Restatement Date:  June 3, 2026.

3.Shares Subject to the Plan

(a)Subject to Section 9 of the Plan, the total number of Shares which may be issued

pursuant to Awards granted under the Plan on or after the 2021 Restatement Date shall be

77,800,000 (the “Absolute Share Limit”). The Shares may consist, in whole or in part, of

unissued Shares or treasury Shares. The issuance of Shares or payment of cash upon the exercise,

vesting or settlement of an Award or in consideration of the cancellation or termination of an

Award shall reduce the total number of Shares available under the Plan, as applicable. If Shares

are not issued or are withheld from payment of an Award (other than an Option or Share

Appreciation Right) on or after the 2026 Restatement Date to satisfy tax obligations with respect

to the Award, such Shares will be added back to the aggregate number of Shares with respect to

which Awards may be granted under the Plan. When an Option or Share Appreciation Right is

granted under the Plan, the number of Shares subject to the Option or Share Appreciation Right

will be counted against the aggregate number of Shares with respect to which Awards may be

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granted under the Plan as one Share for every Share subject to such Option or Share

Appreciation Right. No Shares will be added back to the Share reserve under the Plan with

respect to exercised Share Appreciation Rights granted under the Plan (regardless of whether the

Share Appreciation Rights are cash settled or stock settled). Additionally, no Shares will be

added back to the Share reserve under the Plan in the event that (i) a portion of the Shares

covered by an Option are tendered to the Company or “net settled” to cover payment of the

Option exercise price or (ii) the Company utilizes the proceeds received upon Option exercise to

repurchase Shares on the open market or otherwise.

(b)In the event that any Awards under the Plan (regardless of whether granted prior

to, on or after the 2021 Restatement Date) terminate or lapse for any reason (in whole or in part),

including, without limitation, due to failure to achieve performance-vesting or service-vesting

criteria, on or after the 2021 Restatement Date without payment of consideration, the number of

Shares subject to such terminated or lapsed portion of Awards shall be available for future

Award grants under the Plan.

(c)The maximum number of Shares subject to Awards granted during a calendar

year to any non-employee director serving on the Board, taken together with any cash fees paid

to such non-employee director during such calendar year, shall not exceed $750,000 in total

value (calculating the value of any such Awards based on the grant date fair value of such

Awards for financial reporting purposes).

4.Administration

(a)The Plan shall be administered by the Administrator.  The Administrator may

delegate the authority to grant Awards under the Plan to any employee or group of employees of

the Company or of any Affiliate of the Company; providedthat such delegation and grants are

consistent with applicable law and guidelines established by the Board from time to time. 

Awards may, in the discretion of the Administrator, be made under the Plan in assumption of, or

in substitution for, outstanding awards previously granted by the Company, any Affiliate of the

Company or any entity acquired by the Company or with which the Company combines.  The

number of Shares underlying such substitute awards shall be counted against the aggregate

number of Shares available for Awards under the Plan. 

(b)The Administrator is authorized to interpret the Plan, to establish, amend and

rescind any rules and regulations relating to the Plan, and to make any other determinations that

it deems necessary or desirable for the administration of the Plan.  The Administrator may

correct any defect or supply any omission or reconcile any inconsistency in the Plan in the

manner and to the extent the Administrator deems necessary or desirable.  Any decision of the

Administrator in the interpretation and administration of the Plan, as described herein, shall lie

within its sole and absolute discretion and shall be final, conclusive and binding on all parties

concerned (including, but not limited to, Participants and their beneficiaries or successors). 

(c)The Administrator shall have the full power and authority to establish the terms

and conditions of any Award subject to the Minimum Vesting Condition and consistent with the

provisions of the Plan.  The Administrator shall also be authorized to waive any such terms and

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conditions applicable to an Award at any time (including, without limitation, accelerating or

waiving any vesting conditions).

(d)The Administrator may require payment of any amount it may determine to be

necessary to withhold for U.S. federal, state, local, foreign or other taxes or social insurance

contributions as a result of the exercise, grant or vesting of an Award (or such other taxable that

may be applicable).  In connection therewith, the Company or any Affiliate shall have the right

to withhold from Shares deliverable in respect of an Award or from any compensation or other

amount owing to the Participant, applicable withholding taxes or social insurance contributions

with respect to any issuance or transfer under the Plan and to take such action as may be

necessary in the opinion of the Company to satisfy all obligations for the payment of such

withholding taxes or social insurance contributions.  Additionally, the Administrator may permit

or require a Participant to publicly sell, in a manner prescribed by the Administrator, a sufficient

number of Shares in connection with the settlement of an Award (with a remittance of the sale

proceeds to the Company) to cover applicable tax withholdings or social insurance contributions. 

5.Limitations

No Award may be granted under the Plan after June 3, 2036, but Awards theretofore

granted may extend beyond that date.

6.Terms and Conditions of Options

Options granted under the Plan shall be non‑qualified options for U.S. federal income tax

purposes, and shall be subject to the foregoing and the following terms and conditions and to

such other terms and conditions, not inconsistent therewith, as the Administrator shall determine:

(a)Option Price.  The Option Price per Share shall be determined by the

Administrator; providedthat the Option Price per Share shall not be less than the Fair Market

Value of a Share on the applicable date the Option is granted unless the Participant is not subject

to Section 409A of the Code or the Option is otherwise designed to be compliant with Section

409A of the Code.

(b)Exercisability.  Options granted under the Plan shall be exercisable at such time

and upon such terms and conditions as may be determined by the Administrator, but in no event

shall an Option be exercisable more than ten years after the date it is granted.

(c)Exercise of Options.  Except as otherwise provided in the Plan or in an Award

agreement, an Option may be exercised for all, or from time to time any part, of the Shares for

which it is then exercisable.  For purposes of Section 6 of the Plan, the exercise date of an Option

shall be the later of the date a notice of exercise is received by the Company and, if applicable,

the date payment is received by the Company pursuant to the relevant clauses in the following

sentence.  The purchase price for the Shares as to which an Option is exercised shall be paid to

the Company, and in the manner designated by the Administrator, pursuant to one or more of the

following methods: (i) in cash or its equivalent (e.g., by personal check), (ii) in Shares having a

Fair Market Value equal to the aggregate Option Price for the Shares being purchased and

6

satisfying such other requirements as may be imposed by the Administrator, (iii) partly in cash

and partly in such Shares, (iv) if the Option relates to Shares and if there is a public market for

the Shares at such time, through the delivery of irrevocable instructions to a broker to sell Shares

obtained upon the exercise of the Option and to deliver promptly to the Company an amount out

of the proceeds of such Sale equal to the aggregate Option Price for the Shares being purchased,

or (v) to the extent permitted by the Administrator, through net settlement in Shares.  No

Participant shall have any rights to dividends, dividend equivalents or distributions or other

rights of a holder with respect to Shares subject to an Option until the Participant has given

written notice of exercise of the Option, paid in full for such Shares and, if applicable, has

satisfied any other conditions imposed by the Administrator pursuant to the Plan.

(d)Attestation.  Wherever in this Plan or any agreement evidencing an Award a

Participant is permitted to pay the exercise price of an Option or taxes relating to the exercise of

an Option by delivering Shares, the Participant may, subject to procedures satisfactory to the

Administrator, satisfy such delivery requirement by presenting proof of beneficial ownership of

such Shares, in which case the Company shall treat the Option as exercised without further

payment and/or shall withhold such number of Shares from the Shares acquired by the exercise

of the Option, as appropriate.

(e)Service Recipient Stock.  No Option may be granted to a Participant subject to

Section 409A of the Code unless (i) the Shares constitute “service recipient stock” with respect

to such Participant (as defined in Section 1.409A-1(b)(5)(iii)) or (ii) the Option is otherwise

designed to be compliant with Section 409A of the Code.

(f)Repricing of Options. Notwithstanding any other provisions under the Plan, no

action shall be taken under the Plan without shareholder approval to (i) lower the exercise prices

of any Options after they are granted, (ii) exchange Options for Options with lower exercise

prices or cancel an Option when the Option Price exceeds the Fair Market Value in exchange for

cash or other Awards (other than pursuant to Section 9 hereof) or (iii) take any other action that

is treated as a “repricing” of stock options under generally accepted accounting principles.

7.Terms and Conditions of Share Appreciation Rights

(a)Grants.  The Administrator may grant (i) a Share Appreciation Right independent

of an Option or (ii) a Share Appreciation Right in connection with an Option, or a portion

thereof.  A Share Appreciation Right granted pursuant to clause (ii) of the preceding sentence

(A) may be granted at the time the related Option is granted or at any time prior to the exercise or

cancellation of the related Option, (B) shall cover the same number of Shares covered by an

Option (or such lesser number of Shares as the Administrator may determine) and (C) shall be

subject to the same terms and conditions as such Option except for such additional limitations as

are contemplated by this Section 7 (or such additional limitations as may be included in an

Award agreement).

(b)Terms.  The exercise price per Share of a Share Appreciation Right shall be an

amount determined by the Administrator; provided, however, that (y) the exercise price per

Share shall not be less than the Fair Market Value of a Share on the applicable date the Share

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Appreciation Right is granted unless the Participant is not subject to Section 409A of the Code or

the Share Appreciation Right is otherwise designed to be compliant with Section 409A of the

Code and (z) in the case of a Share Appreciation Right granted in conjunction with an Option, or

a portion thereof, the exercise price may not be less than the Option Price of the related Option. 

Each Share Appreciation Right granted independent of an Option shall entitle a Participant upon

exercise to an amount equal to (i) the excess of (A) the Fair Market Value on the exercise date of

one Share over (B) the exercise price per Share, times (ii) the number of Shares covered by the

Share Appreciation Right.  Each Share Appreciation Right granted in conjunction with an

Option, or a portion thereof, shall entitle a Participant to surrender to the Company the

unexercised Option, or any portion thereof, and to receive from the Company in exchange

therefore an amount equal to (i) the excess of (A) the Fair Market Value on the exercise date of

one Share over (B) the Option Price per Share, times (ii) the number of Shares covered by the

Option, or portion thereof, which is surrendered.  Payment shall be made in Shares or in cash, or

partly in Shares and partly in cash (any such Shares valued at such Fair Market Value), all as

shall be determined by the Administrator.  Share Appreciation Rights may be exercised from

time to time upon actual receipt by the Company of written notice of exercise stating the number

of Shares with respect to which the Share Appreciation Right is being exercised.  The date a

notice of exercise is received by the Company shall be the exercise date.  The Administrator, in

its sole discretion, may determine that no fractional Shares will be issued in payment for Share

Appreciation Rights, but instead cash will be paid for a fraction or the number of Shares will be

rounded downward to the next whole Share. No Participant shall have any rights to dividends,

dividend equivalents or distributions or other rights of a holder with respect to Shares subject to a

Share Appreciation Right until the Participant has been issued Shares in settlement of such Share

Appreciation Rights and, if applicable, has satisfied any other conditions imposed by the

Administrator pursuant to the Plan.

(c)Limitations.  The Administrator may impose, in its discretion, such conditions

upon the exercisability of Share Appreciation Rights as it may deem fit, but in no event shall a

Share Appreciation Right be exercisable more than ten years after the date it is granted.

(d)Service Recipient Stock.  No Share Appreciation Right may be granted to a

Participant subject to Section 409A of the Code unless (i) the Shares constitute “service recipient

stock” with respect to such Participant (as defined in Section 1.409A-1(b)(5)(iii)) or (ii) the

Share Appreciation Right is otherwise designed to be compliant with Section 409A of the Code.

(e)Repricing of Share Appreciation Rights. Notwithstanding any other provisions

under the Plan, no action shall be taken under the Plan without shareholder approval to (i) lower

the exercise prices of any Share Appreciation Rights after they are granted, (ii) exchange Share

Appreciation Rights for Share Appreciation Rights with lower exercise prices or cancel a Share

Appreciation Right when the exercise price exceeds the Fair Market Value in exchange for cash

or other Awards (other than pursuant to Section 9 hereof) or (iii) take any other action that is

treated as a “repricing” of Share Appreciation Rights under generally accepted accounting

principles.

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8.Other Share-Based Awards

The Administrator, in its sole discretion, may grant or sell Awards of Shares, restricted

Shares, deferred restricted Shares, phantom restricted Shares or other share-based awards based

in whole or in part on the Fair Market Value of the Shares (“Other Share-Based Awards”).  Such

Other Share-Based Awards shall be in such form, and dependent on such conditions, as the

Administrator shall determine, including, without limitation, the right to receive, or vest with

respect to, one or more Shares (or the equivalent cash value of such Shares) upon the completion

of a specified period of service, the occurrence of an event and/or the attainment of performance

objectives.  Other Share-Based Awards may be granted alone or in addition to any other Awards

granted under the Plan.  Subject to the provisions of the Plan, the Administrator shall determine

to whom and when Other Share-Based Awards will be made, the number of Shares to be

awarded under (or otherwise related to) such Other Share-Based Awards; whether such Other

Share-Based Awards shall be settled in cash, Shares or a combination of cash and Shares; and all

other terms and conditions of such Awards (including, without limitation, any vesting provisions

thereof). To the extent that any dividends or dividend equivalent payments may be paid with

respect to any Other Share-Based Award, no such dividend or dividend equivalent payments will

be made unless and until the corresponding portion of the underlying Other Share-Based Award

becomes earned and vested in accordance with its terms.

9.Adjustments Upon Certain Events

Notwithstanding any other provisions in the Plan to the contrary, the following provisions

shall apply to all Awards granted under the Plan:

(a)Generally.  In the event of any change in the outstanding Shares after the

Effective Date by reason of any Share distribution or split, reorganization, recapitalization,

merger, consolidation, spin-off, combination, combination or transaction or exchange of Shares

or other corporate exchange, or any distribution to holders of Shares other than regular cash

distributions or any transaction similar to the foregoing, the Administrator shall make an

equitable substitution or adjustment (subject to Section 17 of the Plan) as to (i) the number or

kind of Shares or other securities issued or reserved for issuance pursuant to the Plan or pursuant

to outstanding Awards, (ii) the Option Price or exercise price of any Option or Share

Appreciation Right and/or (iii) any other affected terms of such Awards, in each case, to the

extent determined by the Administrator to be necessary to preserve (and not to enlarge)

Participants’ rights with respect to Awards outstanding under the Plan; provided, however, that

the manner and form of any such equitable adjustments shall be determined by the Administrator

in its sole discretion and without liability to any person.

(b)Change in Control. In the event of a Change in Control after the Effective Date,

the Administrator may (subject to Section 17 of the Plan), but shall not be obligated to, (i)

accelerate, vest or cause the restrictions to lapse with respect to all or any portion of an Award,

(ii) cancel such Awards for fair value (as determined in the sole discretion of the Administrator)

which, in the case of Options and Share Appreciation Rights, may equal the excess, if any, of

value of the consideration to be paid in the Change in Control transaction to holders of the same

number of Shares subject to such Options or Share Appreciation Rights (or, if no consideration is

9

paid in any such transaction, the Fair Market Value of the Shares subject to such Options or

Share Appreciation Rights) over the aggregate exercise price of such Options or Share

Appreciation Rights, (iii) provide for the issuance of substitute Awards that will substantially

preserve the otherwise applicable terms of any affected Awards previously granted hereunder as

determined by the Administrator in its sole discretion or (iv) provide that for a period of at least

15 days prior to the Change in Control, such Options shall be exercisable as to all shares subject

thereto and that upon the occurrence of the Change in Control, such Options shall terminate and

be of no further force and effect.  The provisions of this Section 9(b) shall not limit a

Participant’s rights, if any, to accelerated vesting of an Award upon a Change in Control to the

extent provided under the terms of any applicable Award agreement.

10.No Right to Continued Service, Employment or Awards

The granting of an Award under the Plan shall impose no obligation on the Company or

any Affiliate to continue the Services of a Participant and shall not lessen or affect the

Company’s or Affiliate’s right to terminate the Services of such Participant.  No Participant or

other Person shall have any claim to be granted any Award, and there is no obligation for

uniformity of treatment of Participants, or holders or beneficiaries of Awards.  The terms and

conditions of Awards and the Administrator’s determinations and interpretations with respect

thereto need not be the same with respect to each Participant (whether or not such Participants

are similarly situated).

11.Successors and Assigns

The Plan shall be binding on all successors and assigns of the Company and a Participant,

including without limitation, the estate of such Participant and the executor, administrator or

trustee of such estate, or any receiver or trustee in bankruptcy or representative of the

Participant’s creditors.

12.Non-transferability of Awards

Unless otherwise determined or approved by the Administrator, an Award shall not be

transferable or assignable by the Participant otherwise than by will or by the applicable laws of

descent and distribution.  An Award exercisable after the death of a Participant may be exercised

by the legatees, personal representatives or distributees of the Participant.

13.Amendments or Termination

The Board may amend, alter or discontinue the Plan, but no amendment, alteration or

discontinuation shall be made, without the consent of a Participant, if such action would

materially diminish any of the rights of the Participant under any Award theretofore granted to

such Participant under the Plan; provided, however, that the Administrator may amend the Plan

in such manner as it deems necessary to permit the granting of Awards meeting the requirements

of the Code or other applicable laws (including, without limitation, to avoid adverse tax

consequences to the Company or to Participants). No amendments shall be made to Sections 6(f)

10

or 7(e) of the Plan (regarding repricing of Options or Share Appreciation Rights) without

shareholder approval.

Notwithstanding any provision of the Plan to the contrary, in the event that the

Administrator determines that any amounts payable hereunder will be taxable to a Participant

under Section 409A of the Code and related U.S. Department of Treasury guidance prior to

payment to such Participant of such amount, the Company may (a) adopt such amendments to

the Plan and Awards and appropriate policies and procedures, including amendments and

policies with retroactive effect, that the Administrator determines necessary or appropriate to

preserve the intended tax treatment of the benefits provided by the Plan and Awards hereunder

and/or (b) take such other actions as the Administrator determines necessary or appropriate to

avoid the imposition of an additional tax under Section 409A of the Code.

14.International Participants

With respect to Participants who reside or work outside the United States of America, the

Administrator may, in its sole discretion, amend the terms of the Plan or Awards with respect to

such Participants (or establish a sub-plan operating under the Plan) in order to permit or facilitate

participation in the Plan, to conform such terms with the requirements of local law or to obtain

more favorable tax or other treatment for a Participant, the Company or an Affiliate.

15.Choice of Law

The Plan shall be governed by and construed in accordance with the law of the State of

New York, without regard to its conflict of law provisions.

16.Effectiveness of the Plan

The Plan shall be effective as of the Effective Date.

17.Section 409A

To the extent applicable, this Plan and Awards issued hereunder shall be interpreted in

accordance with Section 409A of the Code and U.S. Department of Treasury regulations and

other interpretative guidance issued thereunder, including without limitation any such regulations

or other guidance that may be issued after the Effective Date.  Notwithstanding other provisions

of the Plan or any Award agreements thereunder, no Award shall be granted, deferred,

accelerated, extended, paid out or modified under this Plan in a manner that would result in the

imposition of an additional tax under Section 409A of the Code upon a Participant.  In the event

that it is reasonably determined by the Administrator that, as a result of Section 409A of the

Code, payments in respect of any Award under the Plan may not be made at the time

contemplated by the terms of the Plan or the relevant Award agreement, as the case may be,

without causing the Participant holding such Award to be subject to taxation under Section 409A

of the Code, the Company may take whatever actions the Administrator determines necessary or

appropriate to comply with, or exempt the Plan and Award agreement from the requirements of

Section 409A of the Code and related U.S. Department of Treasury guidance and other

11

interpretive materials as may be issued after the Effective Date, which action may include, but is

not limited to, delaying payment to a Participant who is a “specified employee” within the

meaning of Section 409A of the Code until the first day following the six-month period

beginning on the date of the Participant’s termination of Services.  The Company shall use

commercially reasonable efforts to implement the provisions of this Section 17 in good faith;

providedthat neither the Company, the Administrator nor any employee, director or

representative of the Company or of any of its Affiliates shall have any liability to Participants

with respect to this Section 17.

18.Fractional Shares

Notwithstanding other provisions of the Plan or any Award agreements thereunder, the

Company shall not be obligated to issue or deliver fractional Shares pursuant to the Plan or any

Award and the Administrator shall determine whether cash, other securities, or other property

shall be paid or transferred in lieu of any fractional Shares or whether such fractional Shares or

any rights thereto shall be cancelled, terminated or otherwise eliminated with, or without,

consideration.

19.Clawback Policies

Awards under the Plan will be subject to any clawback, recoupment or recapture policy

that the Company may adopt from time to time to the extent provided in such policy and, in

accordance with such policy, may be subject to the requirement that the Awards be repaid to the

Company after they have been distributed to the Participant.

XML

Cover	Jun. 03, 2026
Entity Information [Line Items]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Jun. 03, 2026
Entity Registrant Name	Carlyle Group Inc.
Entity Central Index Key	0001527166
Entity Incorporation, State or Country Code	DE
Entity File Number	001-35538
Entity Tax Identification Number	45-2832612
Entity Address, Address Line One	1001 Pennsylvania Avenue, NW
Entity Address, City or Town	Washington
Entity Address, State or Province	DC
Entity Address, Postal Zip Code	20004-2505
City Area Code	202
Local Phone Number	729-5626
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock
Trading Symbol	CG
Security Exchange Name	NASDAQ
Subordinated Debt
Entity Information [Line Items]
Title of 12(b) Security	4.625% Subordinated Notes due 2061 of Carlyle Finance L.L.C.
Trading Symbol	CGABL
Security Exchange Name	NASDAQ