# EDGAR Filing Document

**Accession Number:** 0001827821
**File Stem:** 0001827821-25-000034
**Filing Date:** 2025-12
**Character Count:** 17288
**Document Hash:** cc540bf692c652b76be55c8fa31e53de
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001827821-25-000034.hdr.sgml**: 20251229

**ACCESSION NUMBER**: 0001827821-25-000034

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20251222

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251229

**DATE AS OF CHANGE**: 20251229

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Forge Global Holdings, Inc.
- **CENTRAL INDEX KEY:** 0001827821
- **STANDARD INDUSTRIAL CLASSIFICATION:** SECURITY & COMMODITY BROKERS, DEALERS, EXCHANGES & SERVICES [6200]
- **ORGANIZATION NAME:** 09 Crypto Assets
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39794
- **FILM NUMBER:** 251609339

**BUSINESS ADDRESS:**
- **STREET 1:** 4 EMBARCADERO CENTER, FL. 15
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94111
- **BUSINESS PHONE:** 800-279-7754

**MAIL ADDRESS:**
- **STREET 1:** 4 EMBARCADERO CENTER, FL. 15
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94111

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Motive Capital Corp
- **DATE OF NAME CHANGE:** 20201120

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MCF2 Acquisition Corp.
- **DATE OF NAME CHANGE:** 20201009

?xml version='1.0' encoding='ASCII'? forge-20251222

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d)**

**OF THE SECURITIES EXCHANGE ACT OF 1934**

**Date of Report (Date of earliest event reported): December 22, 2025**

**Forge Global Holdings, Inc.**

**(Exact name of Registrant as specified in its charter)**

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| | | |
|:---|:---|:---|
| **Delaware** | **001-39794** | **99-4383083** |
| **(State or other jurisdiction<br>of incorporation)** | **(Commission<br>File Number)** | **(I.R.S. Employer<br>Identification No.)** |

---

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| | |
|:---|:---|
| **4 Embarcadero Center**<br>**Floor 15**<br>**San Francisco, California**<br>**(Address of principal executive offices)** | **94111**<br>**(Zip Code)** |

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**(415) 881-1612**

**(Registrant's telephone number, including area code)**

**N/A**

**(Former name or former address, if changed since last report)**

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading<br>Symbol(s)** | **Name of each exchange on<br>which registered** |
| **Common Stock, $0.0001 par value per share** | **FRGE** | **NYSE** |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company □

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □

**Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**

In connection with the merger (the "Merger") contemplated by the previously announced Agreement and Plan of Merger (the "Merger Agreement") by and among Forge Global Holdings, Inc. (the "Company"), The Charles Schwab Corporation ("Schwab") and Ember-Falcon Merger Sub, Inc., certain employees of the Company (including Kelly Rodriques, the Company's Chief Executive Officer, and James Nevin, the Company's Chief Financial Officer) may become entitled to payments and benefits that may be treated as "excess parachute payments" within the meaning of Sections 280G and 4999 of the Internal Revenue Code of 1986, as amended (the "Tax Provisions"). To mitigate the potential impact of the Tax Provisions on the Company and Messrs. Rodriques and Nevin, the Compensation Committee of the Board of Directors of the Company (the "Compensation Committee") and the Board of Directors of the Company (the "Board"), on December 22, 2025 and December 23, 2025, respectively, as contemplated by the terms of the Merger Agreement, approved the payment or settlement in December 2025 of certain earned incentive amounts that would otherwise have been payable in the ordinary course in the 2026 fiscal year.

For Mr. Rodriques, the Board approved acceleration of the vesting and settlement into December 2025 of performance-based restricted stock units awarded in 2025 and eligible to vest in the first quarter of the 2026 fiscal year based on achievement of certain stock price goals for the 2025 fiscal year as compared against the Russell 2000 Index, (the "Rodriques TSR RSUs"). The Rodriques TSR RSUs were earned based on actual performance (200% of the target award), resulting in the vesting and settlement of 36,800 Rodriques TSR RSUs.

For Mr. Nevin, the Compensation Committee approved (1) payment in December 2025 of $340,000, representing a portion of the annual cash bonus in respect of the 2025 fiscal year that would otherwise have been payable in the first quarter of the 2026 fiscal year, (2) acceleration of the vesting and settlement into December 2025 of 11,926 restricted stock units awarded in 2025 and eligible to vest in the ordinary course over the 2026 fiscal year, and (3) acceleration of the vesting and settlement into December 2025 of the performance-based restricted stock units awarded in 2025 and eligible to vest in the first quarter of the 2026 fiscal year based on achievement of certain stock price goals for the 2025 fiscal year as compared against the Russell 2000 (the "Nevin TSR RSUs"). The Nevin TSR RSUs were earned based on actual performance (100% of the target award), resulting in the vesting and settlement of 5,333 Nevin TSR RSUs.

In approving the accelerated vesting of equity awards, the Compensation Committee considered, among other things, the projected value of the compensation-related corporate income tax deductions that otherwise might be lost as a result of the effect of Section 280G and the benefits to the Company of reducing the potential tax burden on the impacted executives.

In connection with the accelerated vesting and payments described above, on December 23, 2025, the Company and each of Messrs. Rodriques and Nevin executed a 280G Mitigation Acknowledgement (a "280G Acknowledgement") providing that the executive will repay to the Company the after-tax portion of the accelerated amounts described above if (1) the executive's employment with the Company and its subsidiaries terminates prior to the date on which the applicable portion of such amounts would have vested and been paid to the executive and such termination of employment would have otherwise resulted in the forfeiture of such amount or (2) the Company determines that the amount of the accelerated payment was greater than it should have been on the basis of actual performance results.

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The description of the 280G Acknowledgement does not purport to be complete and is qualified in its entirety by reference to the full text of the Form of Section 280G Mitigation Acknowledgement, a copy of which is filed as Exhibit 10.1 herewith and is incorporated by reference herein.

**Item 9.01 Financial Statements and Exhibits.**

*(d) Exhibits*

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| | |
|:---|:---|
| **Exhibit<br>Number** | **Description** |
| 10.1 | <u>[Form of Section 280G Mitigation Acknowledgement](forge-8xkxex101280gmatters.htm)</u> |
| 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. |

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&nbsp;&nbsp;&nbsp;&nbsp;

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**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| | **Forge Global Holdings, Inc.** | **Forge Global Holdings, Inc.** |
| December 29, 2025 | | /s/ Kelly Rodriques |
| | Name: | Kelly Rodriques |
| | Title: | Chief Executive Officer |

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## Exhibit 10.1

Exhibit 10.1

**Form of Section 280G Mitigation Acknowledgment**

December 23, 2025

As you are aware, on November 5, 2025, Forge Global Holdings, Inc., a Delaware corporation (the "<u>Company</u>"), entered into an Agreement and Plan of Merger (the "<u>Merger Agreement</u>") with The Charles Schwab Corporation, a Delaware corporation ("<u>Schwab</u>"), and Ember-Falcon Merger Sub Inc., a Delaware corporation and a wholly owned subsidiary of Schwab ("<u>Merger Sub</u>"), pursuant to which, among other things, Merger Sub will merge with and into the Company, with the Company surviving as a wholly owned subsidiary of Schwab (the "<u>Merger</u>"), on the terms and subject to the conditions set forth in the Merger Agreement (the "<u>Transactions</u>").

In connection with the Transactions, certain employees of the Company, including yourself, may become entitled to receive payments that may be considered "excess parachute payments" under Section 280G of the Internal Revenue Code of 1986, as amended ("<u>Section 280G</u>"), which may result in the imposition of an excise tax on such employees, but for mitigation. On December 22, 2025, [the Board of Directors of the Company**] / [**the Compensation Committee of the Board of Directors of the Company (the "<u>Compensation Committee</u>")**]** approved certain actions to mitigate the potential adverse impact of Section 280G on certain impacted employees, including accelerating into December 2025 the payment of certain compensation that would otherwise have been paid to you in subsequent years.

As described in Section 3 below, the acceleration of your payments is conditioned upon your timely execution of this Section 280G mitigation acknowledgment (this "<u>Acknowledgment</u>").

**1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Accelerated Payment of Certain Compensation</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;If you sign this Acknowledgment, the Company agrees to accelerate (i) the vesting and settlement of certain of your performance- and/ or time-based restricted stock units that would have otherwise vested following calendar year 2025, as listed on <u>Exhibit A</u>, to December 29, 2025 (the "<u>Accelerated Units</u>") (for those Accelerated Units that are performance-based restricted stock units, such Accelerated Units will be accelerated based upon actual performance determined by the Compensation Committee in accordance with the terms of the applicable Accelerated Unit), **[**and (ii) the vesting and payment of your annual cash bonus for 2025 that would have otherwise been payable to you in 2026, assuming a payout of 80% of target (the "<u>Accelerated Bonus</u>" and, collectively, the "<u>Accelerated Payments</u>").**]** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Accelerated Payments shall offset the corresponding payments, vesting, settlement and/or amounts that you would have otherwise become entitled to receive in the future (whether prior to, upon consummation of, or following the Transactions) so there shall in no event be any duplication of payments, vesting, settlement and/or amounts.

**2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Repayment of Accelerated Payments</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;In the event that (i) your employment with the Company and its subsidiaries terminates prior to the date on which the Accelerated Payments would have otherwise vested but for this Acknowledgment and (ii) such termination would have otherwise resulted in forfeiture of any portion of the Accelerated Payments (or would not otherwise have resulted in accelerated vesting of the Accelerated Payments) in accordance with the terms of the applicable Compensatory Agreement (as defined below) (e.g., you voluntarily terminate employment without "good reason" or your employment is terminated for "cause", in either case, as applicable and in accordance with the terms of the applicable Compensatory Agreement), you shall repay to the Company the after-tax amount of the corresponding portion of the Accelerated Payments within thirty (30) days following the date of such termination of employment. Notwithstanding the foregoing, such repayment obligation will lapse and no repayment shall be required where such termination of employment occurs as a result of your death or disability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;In addition to the repayment obligations set forth in Section 2(a) above, in the event that the Compensation Committee determines that the amount of any portion of the Accelerated Payments was greater than it should have been on the basis of actual performance results, the Company may recover from you up to the excess value of the Accelerated Payment that was paid to you, including by requiring you to repay such amount, by offset of such amount from other compensation owed by the Company or any of its subsidiaries, by forfeiting or canceling any outstanding equity award held by you or by taking such other action permitted by law. The repayment obligations set forth in this Section 2(b) shall lapse upon the consummation of the Transactions.

**3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Acknowledgment</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;You hereby acknowledge and agree that the Accelerated Payments in Section 1 above shall be subject in all respects to the terms, conditions and requirements described in Section 2 above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;You hereby acknowledge and agree that the plans, arrangements and agreements governing the Accelerated Payments are listed on <u>Exhibit B</u> hereto (collectively, the "<u>Compensatory Agreements</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;This Acknowledgment shall be governed by and construed in accordance with the laws of the State of Delaware without reference to such state's principles of conflicts of law that would cause the laws of any other jurisdiction to apply.

**This Acknowledgment does not constitute legal or tax advice and may not cover all of the factors that any particular individual should or would consider relevant to his or her individual situation. Each individual must evaluate his or her unique situation and make his or her own decisions related to the payments described above and the terms and conditions thereof. This Acknowledgment does not guarantee that no excise tax will be imposed on you. You should seek advice based on your particular circumstances from an independent tax advisor.**

[Signature Page Follows]

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By execution of this Acknowledgment below, the parties agree to the terms and conditions contained herein, as of the date first above written.

FORGE GLOBAL HOLDINGS, INC.

________________________________<br>By:&nbsp;&nbsp;&nbsp;&nbsp;[__]<br>Title:&nbsp;&nbsp;&nbsp;&nbsp;[__]

EXECUTIVE

________________________________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: &nbsp;&nbsp;&nbsp;&nbsp;[__]

[Signature Page to Section 280G Mitigation Acknowledgment]

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**EXHIBIT A**

**Accelerated Units**

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| | | | | |
|:---|:---|:---|:---|:---|
| **Plan** | **Award Type** | **Grant Date** | **RSUs Outstanding (#)** | **RSUs to be Accelerated (#)** |

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**EXHIBIT B**

**Compensatory Agreements**

&nbsp;&nbsp;&nbsp;&nbsp;Forge Global Holdings, Inc. 2022 Stock Option and Incentive Plan and your award agreements thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;**[**Forge Global Holdings, Inc. 2025 Inducement Plan and your award agreements thereunder**]**

&nbsp;&nbsp;&nbsp;&nbsp;**[**Amended and Restated**]** Employment Agreement, by and between the Company and you, dated as of [_____].

&nbsp;&nbsp;&nbsp;&nbsp;Any plan or agreement to which you may be a party or otherwise participate in following the date of this Acknowledgement by and between the Company or any of its subsidiaries or The Charles Schwab Company and any of its subsidiaries.

<br>