Bakkt CFO sells shares to cover tax on RSUs

Bakkt, Inc. Chief Financial Officer Alexander Karen sold 4,684 shares of Class A common stock at $9.13 per share.

Rhea-AI Filing Summary

Bakkt, Inc. Chief Financial Officer Alexander Karen sold 4,684 shares of Class A common stock at $9.13 per share. The footnote explains this sale was made to cover tax obligations from vesting restricted stock units, making it a mechanically driven transaction rather than a discretionary sale.

After the sale, Karen directly holds 55,771 shares of Class A common stock, which includes 18,852 shares subject to restricted stock units and performance stock units that are still subject to vesting conditions.

Insider Trade Summary

Net Seller: 4,684 shares

Net Sell 1 txn

Insider Alexander Karen

Role Chief Financial Officer

Sold 4,684 shs ($43K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	4,684	$9.13	$43K

Holdings After Transaction: Class A Common Stock — 55,771 shares (Direct)

Footnotes (2)

1. F1. Represents sale to cover tax obligations associated with the vesting of restricted stock units.
2. F2. Includes 18,852 shares of Class A Common Stock subject to restricted stock units and performance stock units that remain subject to vesting.

Key Figures

Shares sold: 4,684 shares Sale price: $9.13 per share Shares held after sale: 55,771 shares +1 more

4 metrics

Shares sold 4,684 shares Class A Common Stock sold on April 28, 2026

Sale price $9.13 per share Price for the 4,684 shares sold

Shares held after sale 55,771 shares Direct Class A Common Stock holdings following transaction

Unvested RSUs/PSUs 18,852 shares Class A Common Stock tied to awards still subject to vesting

Key Terms

restricted stock units, performance stock units, open-market sale

3 terms

restricted stock units financial

"Represents sale to cover 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.

performance stock units financial

"Includes 18,852 shares of Class A Common Stock subject to restricted stock units and performance stock units that remain subject to vesting."

Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

FAQ

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

What did Bakkt (BKKT) CFO Alexander Karen report in this Form 4?

Bakkt CFO Alexander Karen reported selling 4,684 shares of Class A common stock at $9.13 per share. The sale was to cover tax obligations from vesting restricted stock units, according to the filing footnote.

Was the Bakkt (BKKT) CFO’s share sale a discretionary transaction?

The sale was not purely discretionary; it was executed to cover tax obligations tied to vesting restricted stock units. This kind of transaction is typically mechanical and connected to equity compensation rather than an open-market move based on stock outlook.

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

After the transaction, Bakkt CFO Alexander Karen directly holds 55,771 shares of Class A common stock. This total includes shares underlying restricted stock units and performance stock units that continue to be subject to vesting conditions.

What price did the Bakkt (BKKT) CFO receive for the shares sold?

Alexander Karen sold 4,684 shares of Bakkt Class A common stock at $9.13 per share. This price reflects the execution level for the tax-related sale associated with the vesting of restricted stock units disclosed in the filing.

What equity awards remain for the Bakkt (BKKT) CFO after this Form 4?

The filing notes that 18,852 shares of Class A common stock are tied to restricted stock units and performance stock units that remain subject to vesting. These awards represent additional potential share delivery as vesting conditions are satisfied over time.

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

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Accepted by SEC EDGAR 04/29/2026 - 07:00 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)
04/28/2026

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	04/28/2026		S		4,684(1)	D	$9.13	55,771(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 18,852 shares of Class A Common Stock subject to restricted stock units and performance stock units that remain subject to vesting.

Remarks:

	/s/ Karen Alexander	04/29/2026
	** 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)