FRGE: Director Leibowitz Granted 6,073 RSUs, Ownership Now 33,256 Shares

Forge Global Holdings (FRGE) – Form 4 insider filing Director Lawrence E. Leibowitz received 6,073 restricted stock units (RSUs) on 18 Jul 2025 under the 2022 Stock Option and Incentive Plan.

Rhea-AI Filing Summary

Forge Global Holdings (FRGE) – Form 4 insider filing

Director Lawrence E. Leibowitz received 6,073 restricted stock units (RSUs) on 18 Jul 2025 under the 2022 Stock Option and Incentive Plan. Each RSU converts 1-for-1 into common stock. Vesting occurs as follows: 4/12ths on the grant date and the remaining 8/12ths in equal monthly installments through the last day of each subsequent month; settled on or about the 10th of the following month. No cash consideration was paid (acquisition price $0).

After the award, Leibowitz directly owns 33,256 common shares. No sales or derivative positions were reported. The grant marginally increases insider ownership but is immaterial relative to Forge Global’s total shares outstanding and does not affect control or financial guidance.

Insights

Securities Analyst

TL;DR: Routine RSU grant; negligible impact on valuation or float.

The filing documents a standard equity incentive: 6,073 RSUs granted to Director Leibowitz at $0 cost. Post-transaction ownership stands at 33,256 shares, a de minimis stake versus Forge Global’s public float. There are no sales, options, or derivative actions, so dilution and signaling effects are minimal. The staggered monthly vesting aligns the director’s incentives with shareholders but does not materially change insider ownership levels or governance dynamics. Overall market impact: neutral.

Insider Trade Summary

Grant/Award: 6,073 shares

Grant/Award 1 txn

Insider LEIBOWITZ LAWRENCE E

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, $0.0001 par value per share	6,073	$0.00	$0.00

Holdings After Transaction: Common Stock, $0.0001 par value per share — 33,256 shares (Direct)

Footnotes (1)

1. F1. These shares represent restricted stock units granted under the Forge Global Holdings, Inc. 2022 Stock Option and Incentive 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, 4/12th of the award shall vest on the Vesting Commencement Date and the remaining 8/12th of the award shall vest in equal monthly installments on the last day of each month thereafter. Vested RSUs shall settle on the nearest Monthly Settlement Date following the applicable vesting date or as soon as practicable following such applicable vesting date. Monthly Settlement Dates are defined as on or about the 10th day of each month.

FAQ

What did Forge Global (FRGE) disclose in the latest Form 4?

The company reported a grant of 6,073 RSUs to Director Lawrence E. Leibowitz on 18 Jul 2025.

How many Forge Global shares does the director own after the transaction?

Leibowitz now holds 33,256 common shares directly.

Was any cash paid for the RSUs acquired by the director?

No. The RSUs were granted at $0 cost under the incentive plan.

What is the vesting schedule for the 6,073 RSUs?

4/12ths vest immediately; the remaining 8/12ths vest monthly through the last day of each subsequent month.

Did the filing report any sales or derivative transactions?

No. The Form 4 lists only the RSU grant; no sales or derivatives were reported.

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Accepted by SEC EDGAR 07/22/2025 - 03:42 PM Learn about SEC filing dates

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^*

LEIBOWITZ LAWRENCE E

(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)

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

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		6,073(1)	A	$0	33,256	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. 2022 Stock Option and Incentive 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, 4/12th of the award shall vest on the Vesting Commencement Date and the remaining 8/12th of the award shall vest in equal monthly installments on the last day of each month thereafter. Vested RSUs shall settle on the nearest Monthly Settlement Date following the applicable vesting date or as soon as practicable following such applicable vesting date. Monthly Settlement Dates are defined as 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.