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SAN FRANCISCO, CA - Forge Global Holdings, Inc. (NYSE:FRGE), a $161.56 million market cap company currently trading at $12.71, disclosed on Thursday that Jennifer Phillips, the firm’s Chief Revenue and Growth Officer, will part ways with the company effective June 26, 2025. The mutual agreement for separation was reached on April 20, 2025, with Phillips set to continue in a consulting capacity through the end of December 2025 to facilitate a smooth transition of her duties. According to InvestingPro data, the company has shown revenue growth of 13.62% over the last twelve months, despite challenging market conditions.
In line with the separation agreement signed on April 24, 2025, Phillips will receive benefits consistent with those in her employment contract for a termination without cause. Notably, the agreement includes an 18-month equity acceleration and the option to exercise her options post-separation, which extends six months beyond the original 12-month period stipulated in her employment contract.
Additionally, Phillips is eligible for a potential additional cash payment of up to $472,470.50 in exchange for six months of consulting services. The specifics of this arrangement and the terms of the separation will be detailed in the company’s forthcoming Quarterly Report on Form 10-Q for the quarter ending June 30, 2025. This agreement builds upon the terms outlined in her employment agreement, which was previously filed with the company’s Annual Report on Form 10-K for the year ended December 31, 2023.
Forge Global Holdings, Inc., headquartered at 4 Embarcadero Center, San Francisco, operates within the securities and commodities brokerage industry under the SIC code 6200. The company’s overall financial health score stands at 1.92 (FAIR) according to InvestingPro metrics, which offers comprehensive analysis and 12 additional ProTips about the company’s performance and outlook. This announcement is based on a press release statement and provides investors with the latest executive movements and compensatory arrangements at the company.
In other recent news, Forge Global Holdings, Inc. reported preliminary financial results for the first quarter of 2025, with estimated total revenues ranging between $24.9 million and $25.1 million, marking a record for the company. This performance exceeded JMP analysts’ estimates by $6.1 million and was $3.7 million above the median consensus. Additionally, Forge Global has announced a potential merger with Accuidity Capital Management, which could enhance its asset management offerings if finalized. The proposed terms include a $10 million cash payment and 1.15 million shares of Forge stock. Meanwhile, JMP analysts maintained a Market Outperform rating for Forge Global with a price target of $4.00, citing the strong preliminary earnings as a positive indicator. Conversely, UBS adjusted its price target for Forge Global from $3.00 to $2.00 while maintaining a Buy rating, reflecting a cautious outlook amid market volatility. Factoring in the 15-to-1 reverse stock split, which went into effect April 15, would adjust the JMP price targets to $60 and UBS to $30. Lastly, Forge Global has partnered with Yahoo Finance to provide real-time pricing and valuation data for private companies, aiming to enhance investor access to private market data and investment opportunities.
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