Sub MoveHyperlinkedText()
    Dim hlIdx As Long, hlink As Hyperlink, hlRng As Range
    Dim bmName As String, bmRng As Range
    
    If ActiveDocument.Hyperlinks.Count > 0 And ActiveDocument.Bookmarks.Count > 0 Then
        Application.ScreenUpdating = False
        'because hyperlinks will be deleted it is necessary to process them in reverse order
        For hlIdx = ActiveDocument.Hyperlinks.Count To 1 Step -1
            Set hlink = ActiveDocument.Hyperlinks(hlIdx)
            If hlink.Type = msoHyperlinkRange Then  'ignore any hyperlinked shapes
                If hlink.Address = vbNullString Then
                    'it's a link to a location in the same document so ensure that it exists
                    bmName = hlink.SubAddress
                    If ActiveDocument.Bookmarks.Exists(bmName) Then
                        'get range of bookmarked paragraph, minus the paragraph mark
                        Set bmRng = ActiveDocument.Bookmarks(bmName).Range
                        With bmRng
                            .Expand wdParagraph
                            .End = .End - 1
                        End With
                        Set hlRng = hlink.Range
                        hlink.Delete
                        With hlRng
                            'turn off superscript and replace text with brackets
                            .Font.Superscript = False
                            .Text = " []"
                            .Start = .Start + 2
                            .End = .End - 1
                            'add the bookmarked text and its formatting
                            .FormattedText = bmRng.FormattedText
                        End With
                    End If
                End If
            End If
        Next hlIdx
        Application.ScreenUpdating = True
    End If

End Sub