[Form 4] Bridge Investment Group Holdings Inc. Insider Trading Activity
Rhea-AI Filing Summary
Allara Dean, Vice Chairman and Director of Bridge Investment Group Holdings Inc. (BRDG), reported transactions on 09/02/2025 reflecting post-merger conversions and vesting awards. The filing shows an award of 48,685 restricted stock units (each representing a contingent right to one Class A share) that vest in four equal annual installments beginning 09/02/2026. The report also records dispositions that reduce the reporting person’s direct and indirect holdings of the issuer to 0 shares across Class A and Class B common stock and related units following the effective mergers described in the filing. The Merger Agreement with Apollo Global Management converted prior Bridge securities into rights to Parent common stock at specified conversion ratios (e.g., 0.07081 shares of Parent per Class A share). The filing notes trust and manager relationships through which indirect ownership was previously held.
Positive
- None.
Negative
- None.
Insights
TL;DR: Insider holdings were converted and largely disposed following the merger; a new RSU award vests over four years.
The Form 4 documents that at the Effective Time of the Merger with Apollo, outstanding Class A and Class B shares and units were cancelled and converted into rights to Parent common stock at stated ratios, leaving the reporting person with zero direct holdings of Bridge common stock post-transaction. Separately, the reporting person received 48,685 restricted stock units that will vest in four substantially equal annual installments beginning 09/02/2026, preserving potential future economic exposure via Parent-equivalent awards. The filing clearly ties certain dispositions and indirect holdings to trusts and an LLC for which the reporting person serves as trustee or manager; no cash sale prices are reported because the conversions were in-kind under the Merger Agreement.
TL;DR: Transaction is a routine, merger-driven conversion and insider award; governance links to family trusts are disclosed.
The disclosure appropriately identifies the reporting person’s roles and the nature of indirect beneficial ownership via two family legacy trusts and Rockridge Investments, LLC. The explanation details the Merger Agreement mechanics converting equity and awards into Parent-common-stock-linked entitlements at defined ratios, and it documents a new RSU grant subject to time-based vesting. From a governance and disclosure perspective, the form provides the necessary linkage between roles, trusts, and post-merger outcomes; there is no indication of off-cycle or unexplained transfers beyond the merger conversions and the issued RSUs.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Class A Units | 6,303,811 | $0.00 | -- |
| Disposition | Class A Units | 500,000 | $0.00 | -- |
| Disposition | Class A Units | 500,000 | $0.00 | -- |
| Disposition | Class A Units | 558,632 | $0.00 | -- |
| Grant/Award | Class A Common Stock | 48,685 | $0.00 | -- |
| Disposition | Class A Common Stock | 691,885 | $0.00 | -- |
| Disposition | Class B Common Stock | 4,863,964 | $0.00 | -- |
| Disposition | Class B Common Stock | 500,000 | $0.00 | -- |
| Disposition | Class B Common Stock | 500,000 | $0.00 | -- |
| Disposition | Class B Common Stock | 558,632 | $0.00 | -- |
Footnotes (1)
- Represents an award of restricted stock units that vest in four substantially equal annual installments beginning on September 2, 2026. Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock. 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 3) (cont. from FN 2) (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 4) (cont. from FN 3) (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. The Reporting Person is the Trustee of the Dean Allara Family Legacy Trust dtd December 20, 2021 and may be deemed to share beneficial ownership. The Reporting Person is the Trustee of the Stacey Allara Family Legacy Trust dtd December 20, 2021 and may be deemed to share beneficial ownership. The Reporting Person is the manager of Rockridge Investments, LLC and may be deemed to share beneficial ownership.
