BX Buzz affiliates report major BMBL conversions and sales on 08/13/2025

Rhea-AI Filing Summary

BX Buzz ML-affiliated Blackstone entities reported multiple transactions in Bumble Inc. (BMBL) on 08/13/2025. The filings show conversions of common units of Buzz Holdings L.P. into Class A common stock and a series of sales at $6.26 per share. Reported conversions include 7,314,734, 66,010, and 14,415 Class A shares. Reported sales include 7,318,685, 404,761, 5,569,296, 904,128, and 2,412,589 Class A shares, all at $6.26 per share.

The filing identifies multiple Blackstone-related reporting persons and explains that common units held are exchangeable one-for-one into Class A shares under an exchange agreement dated February 10, 2021, and that those exchange rights do not expire. Ownership totals following the transactions are reported for various holders (examples: 16,385,953, 147,871, 32,291, among others), with the report filed jointly by multiple reporting persons.

Positive

• Exchange rights permanently in place: The filing states the unit-to-share exchange rights "do not expire," providing clarity on conversion mechanics
• Full Section 16 disclosure provided: Multiple Blackstone-related reporting persons filed coordinated Forms 4 detailing conversions and sales, improving transparency

Negative

• Large-scale share dispositions: Multiple substantial sales executed at $6.26 per share 7,318,685 shares) materially reduce the reporting group's Class A holdings
• Concentration of transactions on a single date: Numerous conversions and sales all occurred on 08/13/2025, substantially changing reported beneficial ownership in one day

Insights

Securities Analyst

TL;DR: Large-scale conversions and coordinated share sales by Blackstone-related entities materially changed reported beneficial ownership on 08/13/2025.

The Form 4 discloses substantial conversions of partnership units into Class A shares and multiple blocks of sales executed at $6.26 per share. The largest single conversion reported was 7,314,734 shares and the largest sale reported was 7,318,685 shares. These transactions significantly alter public reporting of beneficial ownership levels for the Blackstone-affiliated reporting group and may affect short-term float and supply disclosure; the filing is pro forma factual disclosure without commentary on intent or timing beyond the stated transaction date.

Corporate Governance Expert

TL;DR: The filing clarifies ownership structure and conversion rights across multiple Blackstone entities without indicating any change to exchange agreement terms.

The report enumerates the complex ownership chain among Blackstone affiliates and explicitly confirms that exchange rights for Buzz Holdings L.P. units into Class A shares are perpetual. Multiple related reporting persons filed separate but coordinated Forms 4, and each disclaims ownership of other reported securities except for pecuniary interest as noted. This level of disclosure aligns with Section 16 requirements and clarifies who holds exchangeable units and resulting share positions after the transactions.

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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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^*

BX Buzz ML-1 GP LLC

(Last) (First) (Middle)

C/O BLACKSTONE INC.

345 PARK AVENUE

(Street)

NEW YORK NY 10154

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Bumble Inc. [ BMBL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/13/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	08/13/2025		C		7,314,734	A	(1)	7,327,536	I	See Footnotes(2)(5)(6)(7)(8)(9)
Class A Common Stock	08/13/2025		C		66,010	A	(1)	66,010	I	See Footnotes(3)(5)(6)(7)(8)(9)
Class A Common Stock	08/13/2025		C		14,415	A	(1)	14,415	I	See Footnotes(4)(5)(6)(7)(8)(9)
Class A Common Stock	08/13/2025		S		7,318,685	D	$6.26	8,851	I	See Footnotes(2)(5)(6)(7)(8)(9)
Class A Common Stock	08/13/2025		S		66,010	D	$6.26	0	I	See Footnotes(3)(5)(6)(7)(8)(9)
Class A Common Stock	08/13/2025		S		14,415	D	$6.26	0	I	See Footnotes(4)(5)(6)(7)(8)(9)
Class A Common Stock	08/13/2025		S		404,761	D	$6.26	906,717	I	See Footnotes(5)(6)(7)(8)(9)(10)
Class A Common Stock	08/13/2025		S		5,569,296	D	$6.26	12,475,943	I	See Footnotes(5)(6)(7)(8)(9)(11)
Class A Common Stock	08/13/2025		S		904,128	D	$6.26	2,025,363	I	See Footnotes(5)(6)(7)(8)(9)(12)
Class A Common Stock	08/13/2025		S		2,412,589	D	$6.26	5,404,511	I	See Footnotes(5)(6)(7)(8)(9)(13)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Common Units of Buzz Holdings L.P.	(1)	08/13/2025		C			7,314,734	(1)	(1)	Class A Common Stock	7,314,734	$0	16,385,953	I	See Footnotes(2)(5)(6)(7)(8)(9)
Common Units of Buzz Holdings L.P.	(1)	08/13/2025		C			66,010	(1)	(1)	Class A Common Stock	66,010	$0	147,871	I	See Footnotes(3)(5)(6)(7)(8)(9)
Common Units of Buzz Holdings L.P.	(1)	08/13/2025		C			14,415	(1)	(1)	Class A Common Stock	14,415	$0	32,291	I	See Footnotes(4)(5)(6)(7)(8)(9)

1. Name and Address of Reporting Person^*

BX Buzz ML-1 GP LLC

(Last) (First) (Middle)

C/O BLACKSTONE INC.

345 PARK AVENUE

(Street)

NEW YORK NY 10154

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

BX Buzz ML-2 GP LLC

(Last) (First) (Middle)

C/O BLACKSTONE INC.

345 PARK AVENUE

(Street)

NEW YORK NY 10154

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

BX Buzz ML-3 GP LLC

(Last) (First) (Middle)

C/O BLACKSTONE INC.

345 PARK AVENUE

(Street)

NEW YORK NY 10154

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

BX Buzz ML-4 GP LLC

(Last) (First) (Middle)

C/O BLACKSTONE INC.

345 PARK AVENUE

(Street)

NEW YORK NY 10154

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

BX Buzz ML-5 GP LLC

(Last) (First) (Middle)

C/O BLACKSTONE INC.

345 PARK AVENUE

(Street)

NEW YORK NY 10154

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

BX Buzz ML-6 GP LLC

(Last) (First) (Middle)

C/O BLACKSTONE INC.

345 PARK AVENUE

(Street)

NEW YORK NY 10154

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

BX Buzz ML-7 GP LLC

(Last) (First) (Middle)

C/O BLACKSTONE INC.

345 PARK AVENUE

(Street)

NEW YORK NY 10154

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Blackstone Inc.

(Last) (First) (Middle)

345 PARK AVENUE

(Street)

NEW YORK NY 10154

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Blackstone Group Management L.L.C.

(Last) (First) (Middle)

C/O BLACKSTONE INC.

345 PARK AVENUE

(Street)

NEW YORK NY 10154

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

SCHWARZMAN STEPHEN A

(Last) (First) (Middle)

C/O BLACKSTONE INC.

345 PARK AVENUE

(Street)

NEW YORK NY 10154

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. Pursuant to the terms of an exchange agreement, dated as of February 10, 2021, common units of Buzz Holdings L.P. held by the Reporting Persons are exchangeable for shares of the issuer's Class A common stock on a one-for-one basis. These exchange rights do not expire.

2. Reflects securities directly held by BX Buzz ML-5 Holdco L.P. The general partner of BX Buzz ML-5 Holdco L.P. is BX Buzz ML-5 GP LLC. Blackstone Buzz Holdings L.P. is the sole limited partner of BX Buzz ML-5 Holdco L.P. and the sole member of BX Buzz ML-5 GP LLC. BTO Holdings Manager-NQ L.L.C. is the general partner of Blackstone Buzz Holdings L.P. Blackstone Tactical Opportunities Associates-NQ L.L.C. is the managing member of BTO Holdings Manager-NQ L.L.C. BTOA-NQ L.L.C. is the sole member of Blackstone Tactical Opportunities Associates-NQ L.L.C.

3. Reflects securities directly held by BX Buzz ML-6 Holdco L.P. The general partner of BX Buzz ML-6 Holdco L.P. is BX Buzz ML-6 GP LLC. Blackstone Tactical Opportunities Fund - FD L.P. is the sole limited partner of BX Buzz ML-6 Holdco L.P. and the sole member of BX Buzz ML-6 GP LLC. Blackstone Tactical Opportunities Associates III - NQ L.P. is the general partner of Blackstone Tactical Opportunities Fund - FD L.P. BTO DE GP - NQ L.L.C. is the general partner of Blackstone Tactical Opportunities Associates III - NQ L.P.

4. Reflects securities directly held by BX Buzz ML-7 Holdco L.P. The general partner of BX Buzz ML-7 Holdco L.P. is BX Buzz ML-7 GP LLC. Blackstone Family Investment Partnership-Growth ESC L.P. is the sole limited partner of BX Buzz ML-7 Holdco L.P. and the sole member of BX Buzz ML-7 GP LLC. BXG Side-by-Side GP L.L.C. is the general partner of Blackstone Family Investment Partnership-Growth ESC L.P.

5. Blackstone Holdings II L.P. is the managing member of each of BTOA-NQ L.L.C., BTO DE GP-NQ L.L.C., BXGA L.L.C., and BMA VII NQ L.L.C., and the sole member of each of BXG Side-by-Side GP L.L.C. and Blackstone Strategic Opportunity Associates L.L.C. Blackstone Holdings I/II GP L.L.C. is the general partner of Blackstone Holdings II L.P.

6. Blackstone Inc. is the sole member of each of Blackstone Holdings I/II GP L.L.C. and Blackstone Holdings III GP Management L.L.C. The sole holder of the Series II preferred stock of Blackstone Inc. is Blackstone Group Management L.L.C. Blackstone Group Management L.L.C. is wholly-owned by Blackstone's senior managing directors and controlled by its founder, Stephen A. Schwarzman.

7. Due to the limitations of the electronic filing system certain Reporting Persons are filing separate Forms 4.

8. Information with respect to each of the Reporting Persons is given solely by such Reporting Person, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person.

9. Each of the Reporting Persons (other than to the extent it directly holds securities reported herein) disclaims beneficial ownership of the securities held by the other Reporting Persons, except to the extent of such Reporting Person's pecuniary interest therein, and, pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, each of the Reporting Persons (other than to the extent it directly holds securities reported herein) states that the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

10. Reflects securities directly held by BX Buzz ML-1 Holdco L.P. The general partner of BX Buzz ML-1 Holdco L.P. is BX Buzz ML-1 GP LLC. BXG Buzz Holdings L.P. is the sole limited partner of BX Buzz ML-1 Holdco L.P. and the sole member of BX Buzz ML-1 GP LLC. BXG Holdings Manager L.L.C. is the general partner of BXG Buzz Holdings L.P. Blackstone Growth Associates L.P. is the managing member of BXG Holdings Manager L.L.C. BXGA L.L.C. is the general partner of Blackstone Growth Associates L.P.

11. Reflects securities directly held by BX Buzz ML-2 Holdco L.P. The general partner of BX Buzz ML-2 Holdco L.P. is BX Buzz ML-2 GP LLC. BCP Buzz Holdings L.P. is the sole limited partner of BX Buzz ML-2 Holdco L.P. and the sole member of BX Buzz ML-2 GP LLC. BCP VII Holdings Manager - NQ L.L.C. is the general partner of BCP Buzz Holdings L.P. Blackstone Management Associates VII NQ L.L.C. is the managing member of BCP VII Holdings Manager - NQ L.L.C. BMA VII NQ L.L.C. is the managing member of Blackstone Management Associates VII NQ L.L.C.

12. Reflects securities directly held by BX Buzz ML-3 Holdco L.P. The general partner of BX Buzz ML-3 Holdco L.P. is BX Buzz ML-3 GP LLC. BSOF Buzz Aggregator L.L.C. is the sole limited partner of BX Buzz ML-3 Holdco L.P. and the sole member of BX Buzz ML-3 GP LLC. Blackstone Strategic Opportunity Associates L.L.C. is the managing member of BSOF Buzz Aggregator L.L.C.

13. Reflects securities directly held by BX Buzz ML-4 Holdco L.P. The general partner of BX Buzz ML-4 Holdco L.P. is BX Buzz ML-4 GP LLC. BTO Buzz Holdings II L.P. is the sole limited partner of BX Buzz ML-4 Holdco L.P. and the sole member of BX Buzz ML-4 GP LLC. BTO Holdings Manager L.L.C. is the general partner of BTO Buzz Holdings II L.P. Blackstone Tactical Opportunities Associates L.L.C. is the managing member of BTO Holdings Manager L.L.C. BTOA L.L.C. is the managing member of Blackstone Tactical Opportunities Associates L.L.C. Blackstone Holdings III L.P. is the managing member of BTOA L.L.C. Blackstone Holdings III GP L.P. is the general partner of Blackstone Holdings III L.P. Blackstone Holdings III GP Management L.L.C. is the general partner of Blackstone Holdings III GP L.P.

Remarks:

Exhibit List- Exhibit 99.1 signatures

	See Exhibit 99.1	08/15/2025
	** Signature of Reporting Person	Date
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).
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FAQ

What transactions did Blackstone-related reporting persons report for BMBL on 08/13/2025?

They reported conversions of Buzz Holdings L.P. common units into Class A shares (examples: 7,314,734, 66,010, 14,415) and multiple sales of Class A shares, all at $6.26 per share (examples: 7,318,685, 5,569,296, 2,412,589).

At what price were the reported BMBL share sales executed?

All reported sales in the Form 4 were executed at $6.26 per share.

Do the reported conversion rights for Buzz Holdings L.P. units expire?

No. The filing states the exchange rights are one-for-one and "do not expire."

Who filed these Forms 4 for BMBL?

Multiple Blackstone-affiliated entities filed, including BX Buzz ML-1 GP LLC through BX Buzz ML-7 GP LLC, Blackstone Inc., Blackstone Group Management L.L.C., Blackstone Group Management L.L.C.-related entities, and Stephen A. Schwarzman is listed among reporting persons.

How did the transactions affect reported beneficial ownership totals?

The filing lists post-transaction beneficial ownership totals for various holders 16,385,953, 147,871, and 32,291 Class A shares) as reported in the Form 4 tables.