BKKT CFO files Form 4: 26,846 options granted at $10, holdings 69,285
Rhea-AI Filing Summary
Bakkt Holdings (BKKT): Form 4 insider update. Chief Financial Officer Karen Alexander reported an equity award effective 10/31/2025. She acquired stock options covering 26,846 shares of Class A common stock at an exercise price of $10 per share and now holds 69,285 Class A shares directly.
The holding includes 50,229 shares subject to RSUs and performance stock units that remain subject to vesting. The options were granted on 07/29/2025, contingent on shareholder approval obtained on 10/31/2025, and are structured in eight quarterly tranches with a required “Committed Options” exercise each quarter, optional portions open for one year, and a lock-up for any early exercises until the originally scheduled date.
Positive
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Insights
Routine insider equity grant with structured quarterly exercises.
The CFO of Bakkt Holdings reported acquisition of options for 26,846 shares at an exercise price of $10, tied to shareholder approval on 10/31/2025. This reflects a standard incentive award rather than an open-market purchase.
The award vests via eight quarterly tranches with a mandatory “Committed Options” component each quarter; unexercised commitments cause remaining options to forfeit. Optional portions of each tranche are exercisable for one year, and early exercises face a lock-up until the original date.
Insider ownership now includes 69,285 Class A shares, of which 50,229 are RSUs/PSUs still subject to vesting. Overall, this is an administrative update; actual impact depends on future vesting and exercise activity.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Option (right to buy) | 26,846 | $0.00 | -- |
| holding | Class A Common Stock | -- | -- | -- |
Footnotes (1)
- Includes 50,229 shares of Class A Common Stock subject to RSUs and performance stock units that remain subject to vesting. Represent stock options to purchase shares of the Issuer's Class A Common Stock ("Options") granted on July 29, 2025, contingent on the Issuer's shareholder approval, which was obtained on October 31, 2025. The Options are a commitment by the grantee to exercise a predetermined number of Options every quarter for eight quarters (the "Committed Options") at an exercise price per share equal to $10,00, which reflects the fair market value of a share of Class A Common Stock on the grant date. If the reporting person does not exercise the Committed Options in any quarter, then all remaining Options are forfeited. One-eighth of the Options will become exercisable each quarter (each, a "Quarterly Tranche"). [Continued to footnote 3] [Continued from footnote 2] The Committed Options will be exercisable over a two-day period in the applicable quarter (the "Exercise Period"); provided that if the Exercise Period for a Quarterly Tranche occurs during a blackout period, then such Exercise Period shall instead be the next quarterly Exercise Period. If the reporting person exercises the Committed Option portion, the remainder of that Quarterly Tranche (the "Optional Exercise Options") will become exercisable for a period of one year. The Optional Exercise Option portion of any Quarterly Tranche will expire at the end of such one-year period. [Continued to footnote 4] [Continued from footnote 3] Notwithstanding the foregoing exercise schedule, following the first quarter after stockholder approval of the Options, any portion of the Options may be exercised earlier than the applicable quarter, provided that shares of Class A Common Stock acquired on exercise of the Optional Exercise Options will be subject to a lock-up period so that the shares acquired on exercise may not be sold or transferred until the originally-scheduled exercise date.
