Bridge (BRDG) Insider Report: Class A Shares Converted at 0.07081 Ratio
Rhea-AI Filing Summary
Deborah C. Hopkins, a director of Bridge Investment Group Holdings Inc. (BRDG), reported a disposition of 58,512 shares of the issuer's Class A common stock on 09/02/2025, leaving her with 0 shares of that class after the transaction. The filing explains the disposition occurred in connection with a merger under an Agreement and Plan of Merger dated February 23, 2025, by which Bridge Investment Group Holdings Inc. and its LLC became wholly owned subsidiaries of Apollo Global Management, Inc. At the effective time, outstanding Bridge Class A shares were cancelled and converted into the right to receive 0.07081 shares of Apollo common stock per Class A share, with similar conversion terms for other equity awards and units.
Positive
- Merger completion documented: The filing confirms Bridge became a wholly owned subsidiary of Apollo, with explicit conversion terms for equity.
- Conversion ratio disclosed: Class A shares convert into 0.07081 shares of Apollo common stock, providing clear mechanics for holders and award conversions.
Negative
- Reporting person no longer holds Class A shares: The disposition left the director with 0 Class A shares following the transaction.
- No cash proceeds or post-conversion Apollo share amounts disclosed: The Form 4 does not state the number of Apollo shares received or any sale proceeds, limiting economic detail.
Insights
TL;DR: Insider disposition reflects merger consideration conversion; governance impact is routine and expected.
The Form 4 shows a director-level reporting person disposed of all reported Class A shares following the merger-related transactions. This is a typical post-closing reporting event when issuer securities are cancelled and converted into acquirer consideration. From a governance standpoint, the filing documents compliance with Section 16 reporting obligations and clarifies conversion ratios for equity and award treatment, which helps transparency for shareholders.
TL;DR: Transaction is merger-driven conversion and sale reporting, not an independent trading signal.
The 58,512-share disposition is tied to the Merger Agreement and the stated conversion ratio of 0.07081 shares of Apollo common stock per Bridge Class A share. The filing does not provide cash consideration amounts or proceeds, only the conversion mechanics and the resulting zero Class A ownership for the reporting person. This is informational for holders tracking ownership changes after the corporate combination.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Class A Common Stock | 58,512 | $0.00 | $0.00 |
Footnotes (3)
- F1. Pursuant to that certain Agreement and Plan of Merger (the "Merger Agreement"), dated February 23, 2025, the Issuer and Bridge Investment Group Holdings LLC became wholly owned subsidiaries (the "Mergers") of Apollo Global Management, Inc. ("Parent"). At the effective time of the Mergers (the "Effective Time"), among other transactions, (i) each share of Class A Common Stock issued and outstanding immediately prior to the Effective Time, excluding certain Class A Common Stock as described in the Merger Agreement, was cancelled and extinguished and automatically converted into the right to receive shares of Parent common stock equal to 0.07081 per share, (cont. in FN 2)
- F2. (cont. from FN 1) (ii) each share of Class B Common Stock issued and outstanding immediately prior to the Effective Time, excluding certain Class B Common Stock as described in the Merger Agreement, was cancelled and extinguished and automatically converted into the right to receive shares of Parent common stock equal to 0.00006 per share, (iii) each restricted stock award of the Issuer outstanding and unvested as of immediately prior to the Effective Time was converted into an award of restricted shares of Parent common stock equal to 0.07081 per share, subject to the same terms and conditions as were applicable to such restricted stock award of the Issuer immediately prior to the Effective Time, (cont. in FN 3)
- F3. (cont. from FN 2) (iv) each restricted stock unit of the Issuer outstanding and unvested as of immediately prior to the Effective Time was converted into a number of restricted stock units of Parent with respect to shares of Parent common stock equal to 0.07081 per share, subject to the same terms and conditions as were applicable to such restricted stock unit of the Issuer immediately prior to the Effective Time and (v) each Class A Unit issued and outstanding immediately prior to the Effective Time, excluding certain Class A Units as described in the Merger Agreement, was cancelled and extinguished and automatically converted into the right to receive shares of Parent common stock equal to 0.07081 per share, subject to the same terms and conditions as were applicable to such Class A Unit immediately prior to the Effective Time.
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