Blackstone Holdings I/II GP L.L.C. 4

What Happened
BTOA‑NQ L.L.C., reported as a 10% owner (Blackstone‑affiliated), sold a total of 7,477,504 shares of Bumble Inc. (BMBL) on March 17, 2026. All disposals were reported as sales (code S) at a price of $3.51 per share, for aggregate proceeds of approximately $26.25 million. According to the filing (footnote F1), the sales price was set based on the volume‑weighted average price over a financial institution’s hedging period tied to a post‑paid forward transaction, with the hedging period ending on March 17, 2026.

Key Details

• Transaction date: March 17, 2026; Form 4 filed March 19, 2026 (within the typical two‑business‑day reporting window).
• Price: $3.51 per share.
• Total shares sold: 7,477,504; total proceeds ≈ $26,246,038.
• Major lots reported: 3,278,961 shares ($11.51M); 2,495,189 shares ($8.76M); 1,080,903 shares ($3.79M); 405,073 shares ($1.42M); 181,344 shares ($0.64M); plus smaller tranches.
• Shares owned after transaction: Not specified in the provided filing data.
• Notable footnote: F1 — sales resulted from settlement of a post‑paid forward arrangement; price determined by VWAP over the hedging period.
• Institutional / ownership notes: The filer is part of a complex Blackstone ownership structure (see F2–F10); this is institutional trading, not an individual executive sale.

Context
These filings reflect institutional disposition tied to a structured post‑paid forward arrangement rather than a simple open‑market trade by an individual executive. For retail investors, institutional sales can affect supply but do not by themselves explain company fundamentals. The filing appears timely; no exercise, gift, or tax‑withholding event was reported in the provided data.