Bridge Investment Form 4: Executive RSUs Granted, All Class A Shares Disposed

Rhea-AI Filing Summary

Bridge Investment Group Holdings insider activity: The companys Chief Accounting Officer, Garrett Behling, reported transactions on 09/02/2025 that include an award of 24,342 restricted stock units and the disposition of 69,379 shares of Class A common stock. The restricted stock units vest in four substantially equal annual installments beginning on September 2, 2026, and each unit is a contingent right to one share of Class A common stock.

The filing explains the transactions occurred in the context of a merger under which Bridge Investment Group Holdings Inc. became a wholly owned subsidiary of Apollo Global Management, Inc., and pre-merger Class A shares and awards were converted into rights or awards relating to Parent common stock at a conversion ratio of 0.07081 per Class A share.

Positive

• 24,342 restricted stock units awarded with four-year vesting, maintaining executive alignment with future Parent equity upside
• Clear merger conversion terms disclosed: pre-merger Class A shares and awards converted at a 0.07081 ratio into Parent securities

Negative

• Disposition of 69,379 Class A shares resulting in zero Class A common stock owned following the reported transaction

Insights

Securities Analyst

TL;DR: Insider received time-vesting RSUs while disposing of pre-merger Class A shares; transactions reflect merger conversions.

The reporting officer was awarded 24,342 RSUs that vest annually over four years, preserving future upside through equity-linked compensation. Concurrently, the officer reported a disposal of 69,379 Class A shares, leaving zero Class A shares beneficially owned post-transaction. The filing clarifies these changes are tied to the merger and conversion mechanics into Parent (Apollo) securities at a 0.07081 conversion ratio, which affects the ultimate economic exposure of former Bridge equity holders. For market analysis, these are routine post-merger insider adjustments rather than fresh public-market trades that signal firm-level distress or unexpected developments.

Corporate Governance Expert

TL;DR: Compensation and disposition align with merger execution; vesting schedule retains manager alignment with new Parent equity.

The award of restricted stock units with a four-year vesting schedule indicates continued alignment incentives for the Chief Accounting Officer following the merger. The conversion provisions described mean pre-merger equity and awards were translated into Parent-equivalent instruments using the stated 0.07081 ratio, explaining the simultaneous appearance of disposals and newly denominated awards. From a governance perspective, these filings document expected post-transaction equity treatment rather than atypical insider behavior.

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

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X

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^*

Behling Garrett

(Last) (First) (Middle)

C/O BRIDGE INVESTMENT GROUP HOLDINGS INC

111 EAST SEGO LILY DRIVE, SUITE 400

(Street)

SANDY UT 84070

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Bridge Investment Group Holdings Inc. [ BRDG ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2025

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

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

X	Form filed by One Reporting Person
	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	09/02/2025		A		24,342(1)	A	$0	69,379	D
Class A Common Stock	09/02/2025		D		69,379	D	(2)(3)(4)	0	D

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

Explanation of Responses:

1. Represents an award of restricted stock units that vest in four substantially equal annual installments beginning on September 2, 2026. Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

2. 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 3)

3. (cont. from FN 2) (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 4)

4. (cont. from FN 3) (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.

	/s/ Matthew Grant Attorney-in-Fact	09/02/2025
	** Signature of Reporting Person	Date
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FAQ

What transactions did Garrett Behling report on Form 4 for BRDG?

The report shows an award of 24,342 restricted stock units and a disposition of 69,379 Class A common shares on 09/02/2025.

What is the vesting schedule for the RSUs awarded to the Chief Accounting Officer?

The RSUs vest in four substantially equal annual installments beginning on September 2, 2026.

How were Bridges pre-merger shares and awards treated in the merger?

Pre-merger Class A shares and outstanding restricted awards were converted into rights or awards of Parent common stock at a conversion ratio of 0.07081 per Class A share.

Does the Form 4 show any remaining Class A common stock owned by the reporting person?

No. After the reported disposition the filing indicates 0 Class A common shares were beneficially owned following the transactions.

Are the reported RSUs immediately convertible into Parent shares?

The filing states each RSU is a contingent right to one share of Class A common stock and that unvested RSUs were converted into Parent-referenced restricted units under the merger terms.