Bakkt (BKKT) CEO exercises 33,557 stock options at $10, holds over 9M shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Bakkt, Inc. Chief Executive Officer Akshay Sudhir Naheta exercised stock options to acquire 33,557 shares of Class A Common Stock at an exercise price of $10.00 per share. Following this transaction, he directly holds 9,093,522 shares of Class A Common Stock.
The exercised options were part of a larger option grant, and 1,275,168 stock options remain outstanding after the exercise. His equity position also includes 803,861 Performance Stock Units that are still subject to vesting conditions, indicating that most of his overall equity exposure remains unchanged.
Positive
- None.
Negative
- None.
Insider Trade Summary
33,557 shares exercised/converted
Mixed
2 txns
Insider
Naheta Akshay Sudhir
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (right to buy) | 33,557 | $0.00 | -- |
| Exercise | Class A Common Stock | 33,557 | $10.00 | $336K |
Holdings After Transaction:
Stock Option (right to buy) — 1,275,168 shares (Direct, null);
Class A Common Stock — 9,093,522 shares (Direct, null)
Footnotes (1)
- Includes 803,861 Performance Stock Units that remain subject to certain vesting conditions Represent stock options to purchase shares of the Issuer's Class A Common Stock ("Options") granted on July 29, 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"). The Committed Options are 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.
Key Figures
Shares acquired via option exercise: 33,557 shares
Exercise price: $10.00 per share
Shares held after transaction: 9,093,522 shares
+2 more
5 metrics
Shares acquired via option exercise
33,557 shares
Class A Common Stock acquired through option exercise on 2026-05-15
Exercise price
$10.00 per share
Strike price for exercised stock options
Shares held after transaction
9,093,522 shares
Direct Class A Common Stock holdings following transaction
Remaining stock options
1,275,168 options
Stock options outstanding after the reported exercise
Performance Stock Units
803,861 units
PSUs remaining subject to vesting conditions
Key Terms
Performance Stock Units, Quarterly Tranche, Exercise Period, blackout period
4 terms
Performance Stock Units financial
"Includes 803,861 Performance Stock Units that remain subject to certain vesting conditions"
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.
Quarterly Tranche financial
"One-eighth of the Options will become exercisable each quarter (each, a "Quarterly Tranche")."
Exercise Period financial
"The Committed Options are exercisable over a two-day period in the applicable quarter (the "Exercise Period");"
blackout period financial
"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."
A blackout period is a temporary window when company insiders, employees or certain plan participants are barred from buying or selling the company’s stock, usually around earnings releases or other material events. It matters to investors because it reduces the risk of unfair trading based on secret information and can affect share liquidity and timing—think of it as a “no trading” zone set to keep the market fair and orderly.
FAQ
What insider transaction did Bakkt (BKKT) report for its CEO?
Bakkt reported that CEO Akshay Sudhir Naheta exercised stock options to acquire 33,557 shares of Class A Common Stock at $10.00 per share. This was an option exercise, not an open-market stock purchase, and increased his directly held share count.
What stock options remain for the Bakkt (BKKT) CEO after the exercise?
Following the reported transaction, Akshay Sudhir Naheta retains 1,275,168 stock options on Bakkt Class A Common Stock. These options were granted with a structure requiring quarterly exercises over eight quarters at an exercise price of $10.00 per share.
What are the Performance Stock Units mentioned in the Bakkt (BKKT) Form 4?
The filing notes 803,861 Performance Stock Units held by the CEO that remain subject to vesting conditions. These units represent additional potential equity, which will only convert into shares if specified performance and vesting requirements are satisfied over time.
Is the Bakkt (BKKT) CEO’s transaction an open-market buy or an option exercise?
The transaction is an option exercise, coded "M" and described as an exercise or conversion of a derivative security. Shares were acquired at a fixed $10.00 exercise price from the company, not purchased on the open market.