FRGE secures HQ lease at Four Embarcadero; 3% annual escalator

Rhea-AI Filing Summary

Forge Global Holdings (FRGE) entered a new headquarters lease for approximately 21,795 rentable square feet at Four Embarcadero Center, San Francisco. The five years and four months term begins on February 1, 2026 and ends May 31, 2031, following the current sublease’s expiration on January 31, 2026.

The lease sets an initial annual base rent of about $1,983,000, with the first four months abated. Base rent then increases on a scheduled basis with a 3% annual escalation through the end of the term. In addition to base rent, the company will pay its proportionate share of building operating expenses, including property taxes, as additional rent. Forge will provide a letter of credit of approximately $661,000 as a security deposit. The agreement is reported as a material definitive agreement and creates a direct financial obligation.

Insights

Real estate and accounting analyst

New HQ lease locks in space; $1.983M base rent with escalators.

Forge Global shifts from a sublease to a direct lease for its San Francisco headquarters, securing the same premises from February 1, 2026 to May 31, 2031. The lease specifies an initial annual base rent of $1,983,000, with a four-month rent abatement at the start of the term.

After abatement, base rent increases on a scheduled basis at 3% annually. The company is also responsible for its proportionate share of operating expenses, including property taxes, which are listed as additional rent. A letter of credit of approximately $661,000 serves as the security deposit.

This constitutes a direct financial obligation under Item 2.03. Actual expense levels will depend on operating cost pass-throughs and the scheduled rent escalations over the term.

0001827821FALSE00018278212025-10-202025-10-20

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): October 14, 2025

Forge Global Holdings, Inc.

(Exact name of registrant as specified in its charter)

Delaware			001-39794			99-4383083
(State or other jurisdiction of incorporation)			(Commission File Number)			(I.R.S. Employer Identification No.)

4 Embarcadero Center Floor 15 San Francisco, California (Address of principal executive offices) 94111 (Zip Code)

(415) 881-1612

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.0001 par value per share

FRGE

NYSE

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 1.01 Entry into a Material Definitive Agreement

As previously disclosed by Forge Global Holdings, Inc. (the “Company”) in the Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on August 28, 2023, Forge Global, Inc., a wholly-owned subsidiary of the Company, entered into that certain sublease agreement for an office lease with Jones Lang LaSalle Americas, Inc., dated August 22, 2023 (the “Sublease”), to lease approximately 21,795 rentable square feet (the “Premises”) of an office building located at Four Embarcadero Center, San Francisco, California (the “Building”). In accordance with the terms of the Sublease, the term of the Sublease was extended and is set to expire on January 31, 2026.

On October 14, 2025, Forge Global, Inc. entered into a lease agreement (the “Lease”) with Four Embarcadero Center Venture, an affiliate of Boston Properties Limited Partnership, (the “Landlord”) to lease the Premises. Following the expiration of the Sublease and pursuant to the Lease, the Company will continue to use the Premises as its headquarters. The Lease provides for a term of five (5) years and four (4) months, commencing on February 1, 2026 and expiring on May 31, 2031 (the “Term”), unless the Lease is terminated earlier pursuant to its terms.

The Lease provides for an initial annual base rent of approximately $1,983,000 (the “Base Rent”). Base Rent under the Lease is abated for the first four (4) months of the Term and thereafter increases on a scheduled basis through the end of the Term, reflecting an annual increase of 3%. In addition to the Base Rent, the Company will also be responsible for its proportionate share of the Building’s operating expenses, including property taxes, as additional rent. In connection with the Lease, the Company will deliver to the Landlord a letter of credit in the amount of approximately $661,000 as a security deposit.

The foregoing description of the Lease does not purport to be complete and is qualified in its entirety by reference to the full text of the Lease, a copy of which the Company expects to file as an exhibit to its Quarterly Report on Form 10-Q for the quarter ending September 30, 2025.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information contained in Item 1.01 of this Current Report on Form 8-K with respect to the Lease is incorporated by reference into Item 2.03.

SIGNATURE

Pursuant to the requirements of the Exchange Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			Forge Global Holdings, Inc.
October 20, 2025						/s/ Kelly Rodriques
			Name:			Kelly Rodriques
			Title:			Chief Executive Officer

FAQ

What did FRGE announce in its Form 8-K?

Forge Global entered a new headquarters lease for the same premises it currently subleases, reported as a material definitive agreement and a direct financial obligation.

Where is FRGE’s new leased headquarters and how large is it?

The premises are at Four Embarcadero Center, San Francisco, with approximately 21,795 rentable square feet.

What is the term of FRGE’s new lease?

Five years and four months, commencing February 1, 2026 and expiring May 31, 2031.

What is the initial annual base rent under the lease?

Approximately $1,983,000, with base rent abated for the first four months and then increasing 3% annually.

What additional costs is FRGE responsible for?

Its proportionate share of the building’s operating expenses, including property taxes, as additional rent.

Is there a security deposit for the lease?

Yes. Forge will deliver a letter of credit of approximately $661,000 as a security deposit.

Will Forge Global remain in the same location after the sublease ends?

Yes. Following the sublease expiration on January 31, 2026, the company will continue to use the premises as its headquarters under the new lease.