Bridge (BRDG) Form 4: Insider Reports Zero Post-Merger Bridge Shares
Rhea-AI Filing Summary
Bridge Investment Group Holdings Inc. director Chad A. Leat reported a disposition of 57,867 shares of Class A common stock on 09/02/2025, leaving 0 shares beneficially owned following the transaction. The filing states these changes occurred at the effective time of mergers under a Merger Agreement dated February 23, 2025, whereby Bridge Investment Group Holdings Inc. became a wholly owned subsidiary of Apollo Global Management, Inc. As part of the mergers, outstanding Class A and Class B shares and certain restricted awards or units were cancelled and converted into rights to receive shares of Apollo common stock at specified conversion rates (for Class A and related awards: 0.07081 Apollo shares per Bridge share; for Class B: 0.00006 Apollo shares per Bridge share).
Positive
- None.
Negative
- None.
Insights
TL;DR: Director disposed of all reported Class A shares due to the merger; conversions into Apollo shares occurred at stated ratios.
The Form 4 documents a complete disposition of 57,867 Class A shares by a Bridge director, with post-transaction beneficial ownership reported as zero. The disclosure attributes this outcome to the merger closing that converted and cancelled Bridge equity into Apollo common stock rights at fixed conversion ratios (0.07081 for Class A and related awards; 0.00006 for Class B). For investors, this is a routine post-merger ownership adjustment rather than an isolated open-market sale, and the filing does not state the number of Apollo shares received by the reporting person.
TL;DR: Governance impact: reporting director no longer holds Bridge common stock after the merger; equity position migrated via conversion terms.
The Form 4 indicates that, at the Effective Time of the mergers, Bridge equity positions (including unvested restricted awards and units) were cancelled or converted into Apollo equity rights per the Merger Agreement. The result for the reporting director is zero beneficial ownership of Bridge Class A shares post-transaction. The filing provides conversion ratios but does not disclose the actual number of Apollo shares delivered to the reporting person, limiting full governance transparency on post-merger insider holdings within Apollo.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Class A Common Stock | 57,867 | $0.00 | -- |
Footnotes (1)
- 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) (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) (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.
