Bridge Investment (BRDG) Form 4 Shows Merger-Driven Share Conversions

Rhea-AI Filing Summary

Bridge Investment Group Holdings Inc. (BRDG) Form 4 shows that Debra M. Chase, a director, reported a disposition of 47,739 shares of Class A Common Stock on 09/02/2025. Following the reported transaction the filing lists 0 shares beneficially owned. The Explanation of Responses states that the dispositions and cancellations occurred at the effective time of merger transactions under an Agreement and Plan of Merger dated February 23, 2025, where each outstanding Class A share (subject to certain exclusions) was cancelled and converted into the right to receive 0.07081 shares of Apollo Global Management, Inc. common stock. The filing notes similar conversion provisions for Class B shares, restricted stock awards, restricted stock units and Class A Units into Parent securities per the Merger Agreement.

Positive

• Transaction tied to a formal Merger Agreement with specified conversion ratios (0.07081 for Class A instruments)
• Explanation discloses conversions for multiple equity types (Class A, Class B, restricted awards, RSUs, Class A Units), aiding transparency

Negative

• Reporting person disposed of 47,739 Class A shares and is shown as holding 0 shares after the transaction
• Form 4 shows ownership change driven by merger, which may reduce direct Issuer share ownership disclosure for investors

Insights

Securities Analyst

TL;DR: Director reported disposal of 47,739 Class A shares tied to the merger; conversions into Parent shares executed per Merger Agreement.

The Form 4 documents a disposition of 47,739 Class A Common Stock by a reporting director, with zero shares reported held after the transaction. The explanatory footnotes clearly tie the transaction to the Merger Agreement effective at the time of the mergers, which cancelled and converted outstanding Issuer securities into Apollo Global Management, Inc. common stock at a fixed ratio of 0.07081 for Class A instruments. This is a transaction-driven ownership change resulting from corporate restructuring rather than an open-market trade; its market impact depends on the subsequent treatment and transferability of Parent shares received under the conversion mechanics described.

Corporate Governance Expert

TL;DR: Insider filing documents merger-related cancellation and conversion of multiple equity classes into Parent shares; standard post-merger reporting.

The filing indicates compliance with Section 16 reporting following the mergers described in the Agreement and Plan of Merger. It specifies that Class A and Class B shares, restricted awards and units were cancelled and converted into Parent common stock or equivalent Parent awards per predetermined conversion ratios and terms. The report is informational about ownership changes caused by the corporate transaction and does not allege regulatory violations or ad hoc insider trading outside the merger mechanics.

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^*

Chase Debra M

(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)

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

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		D		47,739	D	(1)(2)(3)	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. 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)

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)

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.

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

What did Debra M. Chase report on the Form 4 for BRDG?

The Form 4 reports a disposition of 47,739 Class A Common Stock on 09/02/2025, with 0 shares beneficially owned following the transaction.

Why were the BRDG shares disposed of according to the filing?

The filing explains the dispositions arose at the Effective Time of mergers under the Agreement and Plan of Merger dated February 23, 2025, which cancelled and converted Issuer securities into Parent securities.

What conversion ratio was used for BRDG Class A shares in the merger?

Each Class A Common Stock share was converted into the right to receive 0.07081 shares of Apollo Global Management, Inc. common stock, subject to exclusions in the Merger Agreement.

Did the filing mention other equity types affected by the merger?

Yes. The filing states Class B shares, restricted stock awards, restricted stock units and Class A Units were converted into Parent common stock or equivalent Parent awards under specified ratios and terms.

Who signed the Form 4 and when?

The filing was signed /s/ Matthew Grant, Attorney-in-Fact on 09/02/2025.