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    Amendment: SEC Form SC 13G/A filed by TriNet Group Inc.

    11/8/24 4:32:38 PM ET
    $TNET
    Business Services
    Consumer Discretionary
    Get the next $TNET alert in real time by email
    SC 13G/A 1 tnet13ga3q2024.htm AMENDMENT NO. 1 TO SCHEDULE 13G

     
     

    UNITED STATES
    SECURITIES AND EXCHANGE COMMISSION
    Washington, D.C. 20549
     
    SCHEDULE 13G
     
    Under the Securities Exchange Act of 1934
     
    (Amendment No.  1)
     
     
    Trinet Group, Inc.
    (Name of Issuer)
     
    Common Shares
    (Title of Class of Securities)
     
    896288107
    (CUSIP Number)
     
    September 30, 2024
    (Date of Event which Requires Filing of this Statement)
     

    Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
     
    [X]           Rule 13d-1(b)
    [   ]           Rule 13d-1(c)
    [   ]           Rule 13d-1(d)





    CUSIP No.
     
    Page 2 of 5 Pages
    896288107
     
     
     
    1
    NAMES OF REPORTING PERSONS
     
     
    I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
     
     
    Mawer Investment Management Ltd.
     
     
     
     
    2
    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
       
    (a)☐
       
    (b)☐
     
     
    3
    SEC USE ONLY
     
     
     
     
     
     
     
    4
    CITIZENSHIP OR PLACE OF ORGANIZATION
     
     
    Canada
     
     
     
     
    NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
    5
    SOLE VOTING POWER
     
     
    3,599,497
     
     
     
     
    6
    SHARED VOTING POWER
     
     
    0
     
     
     
     
    7
    SOLE DISPOSITIVE POWER
     
     
    3,653,597
     
     
     
     
    8
    SHARED DISPOSITIVE POWER
     
     
    0
     
     
     
     
    9
    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
     
     
    3,653,597
     
     
     
     
    10
    CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
     
     
    ☐
     
     
     
     
    11
    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
     
     
    7.36%(1)
     
     
     
     
    12
    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
     
     
    Investment Advisor
     
     
     
     
     
     
    (1) Based upon 49,672,774 Common Shares of Trinet Group, Inc. (the “Issuer”) outstanding as of July 19, 2024 as reported in the Issuer's 10-Q filed with the Securities and Exchange Commission on July 26, 2024.





    CUSIP No.
     
    Page 3 of 5 Pages
    896288107
       

     
    Item 1.
    (a)
    Name of Issuer:
     
         
    Trinet Group, Inc.
           
       
    (b)
    Address of Issuer’s Principal Executive Offices:
           
         
    One Park Place, Suite 600
    Dublin, CA, 94568
           
           
     
    Item 2.
    (a)
    Name of Persons Filing:
         
     
    Mawer Investment Management Ltd.
           
       
    (b)
    Address of Principal Business Office or, if none, Residence :
           
         
    600, 517 – 10th Avenue SW
    Calgary, Alberta, Canada T2R 0A8
           
       
    (c)
    Citizenship:
           
         
    Canada
         
     
       
    (d)
    Title of Class of Securities:
         
     
    Common Shares
           
       
    (e)
    CUSIP Number:

    896288107
           
     
     
    Item 3.
    If this statement is filed pursuant to Sections 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
     
             
       
    (a)
    [   ]   Broker or dealer registered under Section 15 of the Act.
     
       
    (b)
    [   ]   Bank as defined in Section 3(a)(6) of the Act.
     
       
    (c)
    [   ]   Insurance company as defined in Section 3(a)(19) of the Act.
     
       
    (d)
    [   ]   Investment company registered under Section 8 of the Investment
            Company Act of 1940.
     
       
    (e)
    [X]  An investment adviser in accordance with Section
            240.13d-1(b)(1)(ii)(E).
     
       
    (f)
    [   ]  An employee benefit plan or endowment fund in accordance with
            Section 240.13d-1(b)(1)(ii)(F).
     
       
    (g)
    [   ]   A parent holding company or control person in accordance with
             Section 240.13d-1(b)(1)(ii)(G).
     
       
    (h)
    [   ]   A savings associations as defined in Section 3(b) of the Federal
             Deposit Insurance Act.
     
       
    (i)
    [   ]   A church plan that is excluded from the definition of an investment
             company under Section 3(c)(14) of the Investment Company Act
             of 1940.
     
     
     


     

     
    CUSIP No.
     
    Page 4 of 5 Pages
    896288107
       

     
    (j)
    [   ]   A non-U.S. institution in accordance with Section 240.13d-1(b)(1) (ii)(J).
         
     
    (k)
    [   ]   Group, in accordance with Section 240.13d-1(b)(1)(ii)(K).
         
     
    If filing as a non-U.S. institution in accordance with Section 240.13d-1(b)(1)(ii)(J), please specify the type of institution:        _____________________________________________

           
     
    Item 4.
    Ownership.
           
       
    (a)
    Amount Beneficially Owned:
         
     
    3,653,597
           
       
    (b)
    Percent of Class:
         
     
    7.36%
           
       
    (c)
    Number of Shares as to which the person has:
           
           
         
    (i)     sole power to vote or to direct the vote:
         
     
    3,599,497
           
         
    (ii)     shared power to vote or direct the vote:
         
     
    0
           
         
    (iii)    sole power to dispose or direct the disposition of:
         
     
    3,653,597
           
         
    (iv)    shared power to dispose or to direct the disposition of:
         
     
    0
           
     
    Item 5.
    Ownership of Five Percent or Less of a Class:
         
     
         
    If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following: ☐
           
     
    Item 6.
    Ownership of More than Five Percent on Behalf of Another Person:
           
          Not Applicable
           
     




    CUSIP No.
     
    Page 5 of 5 Pages
    896288107
       

     
    Item 7.
    Identification and Classification of Subsidiaries Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
           
          Not Applicable
         
     
    Item 8.
    Identification and Classification of Members of the Group.
           
          Not Applicable 
           
     
    Item 9.
    Notice of Dissolution of Group.
           
          Not Applicable
           
     
    Item 10.
    Certification:
           
         
    By signing below, I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

    SIGNATURE
     
      After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

       
    Date:   November 1, 2024
     
             
             
        By: 
    /s/ Manar Hassan-Agha
     
        Name:
    Manar Hassan-Agha
     
        Title:
    Portfolio Manager
     

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