Bakkt CFO sells shares to cover tax withholding

Bakkt, Inc. Chief Financial Officer Alexander Karen reported selling 657 shares of Class A Common Stock on July 15, 2026 at $8.44 per share.

Rhea-AI Filing Summary

Bakkt, Inc. Chief Financial Officer Alexander Karen reported selling 657 shares of Class A Common Stock on July 15, 2026 at $8.44 per share. A footnote states the sale was to cover tax obligations from restricted stock unit vesting. Following the transaction, he directly owns 53,542 shares, including 12,829 shares underlying restricted stock units that remain subject to vesting.

Insider Trade Summary

Net Seller: 657 shares

Net Sell 1 txn

Insider Alexander Karen

Role Chief Financial Officer

Sold 657 shs ($6K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock F1, F2	657	$8.44	$6K

Holdings After Transaction: Class A Common Stock — 53,542 shares (Direct)

Footnotes (2)

1. F1. Represents sale to cover tax obligations associated with the vesting of restricted stock units.
2. F2. Includes 12,829 shares of Class A Common Stock subject to restricted stock units that remain subject to vesting.

Key Figures

Shares sold: 657 shares Sale price: $8.44 per share Post-transaction holdings: 53,542 shares +1 more

4 metrics

Shares sold 657 shares Class A Common Stock sold by CFO Alexander Karen on July 15, 2026

Sale price $8.44 per share Price for the 657 shares of Class A Common Stock sold

Post-transaction holdings 53,542 shares Class A Common Stock directly owned by the CFO after the sale

Unvested RSU-related shares 12,829 shares Shares of Class A Common Stock subject to restricted stock units that remain subject to vesting

Key Terms

restricted stock units, vesting, Class A Common Stock

3 terms

restricted stock units financial

"tax obligations associated with the vesting of restricted stock units"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

vesting financial

"Includes 12,829 shares of Class A Common Stock subject to RSUs that remain subject to vesting"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

Class A Common Stock financial

"Includes 12,829 shares of Class A Common Stock subject to restricted stock units"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Bakkt (BKKT) report for CFO Alexander Karen?

Bakkt reported that CFO Alexander Karen sold 657 shares of Class A Common Stock on July 15, 2026 at $8.44 per share. The sale was disclosed as part of a Form 4 insider trading report filed with regulators.

How many Bakkt (BKKT) shares did the CFO sell and at what price?

CFO Alexander Karen sold 657 shares of Bakkt Class A Common Stock at an average price of $8.44 per share. This transaction involved non-derivative equity and was coded as a sale in an open market or private transaction.

Why did the Bakkt (BKKT) CFO sell 657 shares?

The 657 shares were sold to cover tax obligations related to the vesting of restricted stock units. A footnote specifies that the transaction represents a sale to satisfy taxes owed upon RSU vesting rather than a discretionary portfolio rebalancing.

How many Bakkt (BKKT) shares does the CFO hold after the transaction?

After the sale, CFO Alexander Karen directly holds 53,542 shares of Bakkt Class A Common Stock. This total includes both fully vested shares and shares underlying restricted stock units that remain subject to future vesting conditions.

How many of the Bakkt (BKKT) CFO’s shares are still unvested RSUs?

Of the CFO’s 53,542 shares reported after the transaction, 12,829 are shares of Class A Common Stock subject to restricted stock units that remain subject to vesting. These RSU-based shares will only fully vest over time as conditions are met.

Was the Bakkt (BKKT) CFO’s sale made under a Rule 10b5-1 trading plan?

The Form 4’s Rule 10b5-1 checkbox is not marked as an affirming trading plan, and the footnotes only describe a sale to cover tax obligations. The disclosure does not state that this transaction occurred under a pre-arranged 10b5-1 trading plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/17/2026 - 01:24 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Alexander Karen

(Last) (First) (Middle)

C/O BAKKT, INC.

3280 PEACHTREE ROAD NE, 7TH FLOOR

(Street)

ATLANTA GEORGIA 30305

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Bakkt, Inc. [ BKKT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	07/15/2026		S		657(1)	D	$8.44	53,542(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents sale to cover tax obligations associated with the vesting of restricted stock units.

2. Includes 12,829 shares of Class A Common Stock subject to restricted stock units that remain subject to vesting.

Remarks:

	/s/ Karen Alexander	07/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)