Form 4: Bridge Investment Director Disposes Shares Post-Apollo Merger

Chad A. Leat, a director of Bridge Investment Group Holdings Inc., reported the disposition of all his Class A Common Stock following the company's acquisition by Apollo Global Management, Inc.

Summary

• Chad A. Leat, a director of Bridge Investment Group Holdings Inc. (BRDG), reported the disposition of 57,867 shares of Class A Common Stock.
• This transaction occurred on September 2, 2025, which was the effective time of the merger where Bridge Investment Group Holdings Inc. became a wholly owned subsidiary of Apollo Global Management, Inc. ("Parent").
• Pursuant to the merger agreement dated February 23, 2025, each outstanding share of BRDG Class A Common Stock was cancelled and converted into the right to receive 0.07081 shares of Apollo Global Management, Inc. common stock.
• Similarly, Class B Common Stock, restricted stock awards, restricted stock units, and Class A Units were also converted into shares or awards of Apollo common stock at specified exchange ratios.
• Following this transaction, Chad A. Leat beneficially owns 0 shares of Bridge Investment Group Holdings Inc. Class A Common Stock.

Sentiment

Score: 7

Explanation: The filing reports the completion of a merger, which provides a clear exit and liquidity event for shareholders of the acquired company. While it signifies the end of Bridge Investment Group Holdings Inc. as an independent public entity, the conversion into shares of a larger, established firm like Apollo Global Management, Inc. is generally a positive outcome for the reporting person and former shareholders.

Positives

• The merger with Apollo Global Management, Inc. provides a clear exit strategy and liquidity for shareholders of Bridge Investment Group Holdings Inc.
• Shareholders received shares of Apollo Global Management, Inc., a larger, potentially more diversified entity, in exchange for their Bridge Investment Group Holdings Inc. shares.

Negatives

• Bridge Investment Group Holdings Inc. Class A Common Stock is no longer publicly traded, as it became a wholly owned subsidiary of Apollo Global Management, Inc.
• The reporting person no longer holds direct beneficial ownership in Bridge Investment Group Holdings Inc.

Future Outlook

NA

Industry Context

This transaction reflects the ongoing consolidation trend within the asset management industry, where larger firms like Apollo Global Management, Inc. acquire specialized or smaller entities to expand their asset under management, diversify offerings, and achieve economies of scale. Such mergers often aim to create more robust platforms capable of navigating complex market conditions and attracting institutional capital.

Stakeholder Impact

• Shareholders of Bridge Investment Group Holdings Inc.: Received shares of Apollo Global Management, Inc. common stock, providing liquidity and continued investment in the combined entity.
• Employees of Bridge Investment Group Holdings Inc.: Restricted stock awards and units were converted into Apollo common stock awards, maintaining continuity of equity incentives.
• Apollo Global Management, Inc.: Successfully acquired Bridge Investment Group Holdings Inc., expanding its portfolio and market presence.

Key Dates

Keywords

Bridge Investment Group Holdings Inc., BRDG, Apollo Global Management Inc., Merger, Acquisition, Form 4, Chad A. Leat, Director, Beneficial Ownership, Stock Transaction, Class A Common Stock, Restricted Stock, Restricted Stock Units