Forge Global (FRGE) Form 4: New CFO Receives 18.7K RSUs in Inducement Grant

Rhea-AI Filing Summary

Forge Global Holdings (FRGE) Form 4: Chief Financial Officer James Nevin reported the grant of 18,666 restricted stock units (RSUs) on 18-Jul-2025 under the company’s 2025 Inducement Plan. Each RSU converts into one common share at settlement and was granted at $0 cost. Vesting follows a back-loaded schedule:

• 33% vests on the first anniversary of the vesting-commencement date
• The remaining 67% vests in 24 equal monthly instalments thereafter

Following this award, Nevin’s total beneficial ownership stands at 22,174 common shares, all held directly. No derivative securities were reported. The filing was signed on 22-Jul-2025.

This transaction represents routine equity compensation for a newly appointed officer and modestly increases insider ownership without cash outflow by the executive.

Positive

• Increased insider ownership: CFO now beneficially owns 22,174 shares, aligning interests with shareholders.
• Non-cash compensation: RSUs granted at $0 reduce cash burn while incentivising performance.

Negative

• None.

Insights

Financial Analyst

TL;DR – Grant of 18,666 RSUs to new CFO; marginal dilution, positive alignment.

The Form 4 discloses an inducement equity package for CFO James Nevin, adding 18,666 RSUs that vest 1/3 after one year and monthly thereafter for two years. Such grants are customary for executive onboarding and are non-cash, creating minimal immediate expense beyond standard stock-based comp accounting. The award raises Nevin’s stake to 22,174 shares, signaling personal commitment and alignment with shareholder interests. Dilution impact is negligible relative to FRGE’s ~175 million shares outstanding. No sales or option exercises were reported, so there is no negative liquidity signal. Overall, the filing is routine and only modestly positive for governance and incentive alignment.

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Nevin James

(Last) (First) (Middle)

4 EMBARCADERO CENTER, FLOOR 15

(Street)

SAN FRANCISCO CA 94111

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Forge Global Holdings, Inc. [ FRGE ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
07/18/2025

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
Common Stock, $0.0001 par value per share	07/18/2025		A		18,666(1)	A	$0	22,174	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. These shares represent restricted stock units granted under the Forge Global Holdings, Inc. 2025 Inducement Plan (the "Plan"). Each unit represents a right to receive one share of the Issuer's common stock. Subject to the Reporting Person's continued Service Relationship (as defined in the Plan) through each applicable vesting date, (i) 1/3rd of the RSUs shall vest on the 1-year anniversary of the Vesting Commencement Date, and, thereafter, (ii) the remaining RSUs shall vest over 24 equal monthly installments on the same day of the month as the Vesting Commencement Date (or if no such date exists in the month, the last day of such month). All RSUs that vest shall settle on the nearest Monthly Settlement Date following the applicable vesting date. Monthly Settlement Dates shall be on or about the 10th day of each month.

Remarks:

	/s/ James Nevin, Attorney-in-Fact	07/22/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many FRGE shares did CFO James Nevin acquire?

He was granted 18,666 restricted stock units, each convertible into one common share.

What is the vesting schedule for the new RSUs?

33 % vests on the first anniversary of the commencement date; the remaining 67 % vests in 24 monthly instalments thereafter.

What is Nevin’s total share ownership after the transaction?

The filing shows 22,174 common shares beneficially owned following the grant.

Did the CFO pay anything for these RSUs?

No. The RSUs were granted at $0 cost under the 2025 Inducement Plan.

Does the Form 4 indicate any share sales or option exercises?

No sales, option exercises, or derivative transactions were reported in this filing.