Forge Global Board Member Increases Stake with New Stock Grant

Rhea-AI Filing Summary

Forge Global Holdings (FRGE) reported insider trading activity through a Form 4 filing for Director Kimberley H. Vogel. On June 20, 2025, Vogel acquired 11,333 restricted stock units (RSUs) under the company's 2022 Stock Option and Incentive Plan at $0 cost basis.

Key details of the transaction:

• The RSUs vest quarterly, with 1/4th vesting on each Quarterly Vesting Date (March 1, June 1, September 1, and December 1)
• Following the transaction, Vogel directly owns 25,705 shares and indirectly owns 5,521 shares through the Kim Vogel, Inc. Defined Benefit Plan
• Share amounts reflect the company's 1-for-15 reverse stock split executed on April 14, 2025

This grant represents standard director compensation and demonstrates continued alignment between leadership and shareholder interests.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Vogel Kimberley H

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, $0.0001 par value per share	11,333	$0.00	--
holding	Common Stock, $0.0001 par value per share	--	--	--

Holdings After Transaction: Common Stock, $0.0001 par value per share — 25,705 shares (Direct); Common Stock, $0.0001 par value per share — 5,521 shares (Indirect, Kim Vogel, Inc. Defined Benefit Plan)

Footnotes (1)

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, 1/4th of the shares subject to the award shall vest and settle on the first Quarterly Vesting Date occurring after the grant date and each Quarterly Vesting Date thereafter, or as soon as practicable following such applicable vesting date. Quarterly Vesting Dates are defined as March 1, June 1, September 1, and December 1 of a given year. On April 14, 2025, the Issuer effected a 1-for-15 reverse split of the Issuer's common stock, resulting in proportionate adjustments to the number of shares of common stock beneficially owned by the Reporting Person. Accordingly, the securities reported on this Form 4 have been adjusted to reflect the reverse stock split.

Form 4 Insider Transactions: What Each Field Means →

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).

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^*

Vogel Kimberley H

(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)
06/20/2025

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	06/20/2025		A		11,333(1)	A	$0	25,705(2)	D
Common Stock, $0.0001 par value per share								5,521(2)	I	Kim Vogel, Inc. Defined Benefit Plan

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, 1/4th of the shares subject to the award shall vest and settle on the first Quarterly Vesting Date occurring after the grant date and each Quarterly Vesting Date thereafter, or as soon as practicable following such applicable vesting date. Quarterly Vesting Dates are defined as March 1, June 1, September 1, and December 1 of a given year.

2. On April 14, 2025, the Issuer effected a 1-for-15 reverse split of the Issuer's common stock, resulting in proportionate adjustments to the number of shares of common stock beneficially owned by the Reporting Person. Accordingly, the securities reported on this Form 4 have been adjusted to reflect the reverse stock split.

Remarks:

Exhibit 24 - Power of Attorney

	/s/ James Nevin, Attorney-in-Fact	06/24/2025
	** 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 Director Kimberley Vogel acquire on June 20, 2025?

Director Kimberley H. Vogel acquired 11,333 restricted stock units (RSUs) of FRGE common stock on June 20, 2025, granted under the Forge Global Holdings, Inc. 2022 Stock Option and Incentive Plan.

What is the vesting schedule for FRGE Director Vogel's new RSU grant?

The RSUs vest in quarterly installments, with 1/4th of the shares vesting on each Quarterly Vesting Date (March 1, June 1, September 1, and December 1) following the grant date, subject to Vogel's continued service relationship with FRGE.

How many FRGE shares does Kimberley Vogel own directly after the June 2025 transaction?

Following the reported transaction, Kimberley Vogel directly owns 25,705 shares of FRGE common stock. She also indirectly owns 5,521 shares through the Kim Vogel, Inc. Defined Benefit Plan.

Did FRGE undergo a stock split in 2025?

Yes, FRGE executed a 1-for-15 reverse stock split on April 14, 2025, which resulted in proportionate adjustments to the number of shares of common stock beneficially owned by shareholders.