Bakkt counsel sells 11,764 shares in tax-related trades

Bakkt, Inc. General Counsel and Secretary Marc D'Annunzio reported open-market sales of Class A Common Stock totaling 11,764 shares.

Rhea-AI Filing Summary

Bakkt, Inc. General Counsel and Secretary Marc D'Annunzio reported open-market sales of Class A Common Stock totaling 11,764 shares. He sold 6,422 shares on March 27, 2026 at $8.55 per share and 5,342 shares on March 30, 2026 at a weighted-average price of $7.0788 per share.

According to the filing, the transactions were made under a Rule 10b5-1 trading plan adopted on September 10, 2025, and the sales represent shares sold to cover tax obligations related to vesting restricted stock units. After these trades, he holds 106,069 shares directly, including 30,622 shares underlying unvested restricted and performance stock unit awards.

Insider Trade Summary 10b5-1

Net Seller: 11,764 shares

Net Sell 2 txns

Insider D'Annunzio Marc

Role General Counsel and Secretary

Sold 11,764 shs ($93K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	5,342	$7.0788	$38K
Sale	Class A Common Stock	6,422	$8.55	$55K

Holdings After Transaction: Class A Common Stock — 106,069 shares (Direct)

Footnotes (4)

1. F1. Represents sale to cover tax obligations associated with the vesting of restricted stock units.
2. F2. Includes 30,622 shares of Class A Common Stock subject to restricted stock units and performance stock units awards that remain subject to vesting.
3. F3. Represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $6.8900 to $7.8899, inclusive. For all transactions reported in this Form 4 utilizing a weighted-average price, the reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.
4. F4. The sales were effectuated pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 09/10/2025.

Key Figures

Shares sold March 27, 2026: 6,422 shares at $8.55/share Shares sold March 30, 2026: 5,342 shares at $7.0788/share Total shares sold: 11,764 shares +3 more

6 metrics

Shares sold March 27, 2026 6,422 shares at $8.55/share Open-market sale of Class A Common Stock

Shares sold March 30, 2026 5,342 shares at $7.0788/share Weighted-average price across multiple trades

Total shares sold 11,764 shares Net open-market sales across two transactions

Shares held after transactions 106,069 shares Direct holdings following March 30, 2026 sale

Unvested RSU/PSU shares included 30,622 shares Subject to restricted and performance stock unit vesting

Price range for weighted-average sale $6.89–$7.8899/share Multiple trades underlying $7.0788 weighted-average price

Key Terms

Rule 10b5-1 trading plan, restricted stock units, performance stock units, weighted-average price

4 terms

Rule 10b5-1 trading plan regulatory

"The sales were effectuated pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 09/10/2025."

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

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 30,622 shares of Class A Common Stock subject to restricted stock units and performance stock units awards 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.

weighted-average price financial

"Represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $6.8900 to $7.8899, inclusive."

Weighted-average price is the average of multiple prices where each price is counted according to its size or importance—larger trades carry more weight than smaller ones, like averaging course grades by credit hours. It matters to investors because it gives a more realistic picture of the true price paid or received, helping assess trade execution, compare performance, calculate cost basis, and value positions more accurately than a simple average.

FAQ

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

What insider transaction did Bakkt (BKKT) report for Marc D'Annunzio?

Marc D'Annunzio reported selling 11,764 Bakkt shares. He executed two open-market sales of Class A Common Stock on March 27 and March 30, 2026, primarily to cover tax obligations tied to vesting restricted stock units under a Rule 10b5-1 trading plan.

At what prices did Bakkt (BKKT) insider Marc D'Annunzio sell shares?

He sold at $8.55 and a $7.0788 weighted-average price. The March 27, 2026 trade covered 6,422 shares at $8.55 per share, while the March 30, 2026 sale covered 5,342 shares at a weighted-average price between $6.89 and $7.8899 per share.

How many Bakkt (BKKT) shares does Marc D'Annunzio hold after these sales?

He holds 106,069 Bakkt Class A shares after the sales. This total includes 30,622 shares subject to restricted stock units and performance stock units that remain unvested, so a portion of his reported holdings is still contingent on future vesting conditions.

Were Marc D'Annunzio's Bakkt (BKKT) share sales under a Rule 10b5-1 plan?

Yes, the sales were made under a Rule 10b5-1 trading plan. The filing states the plan was adopted on September 10, 2025, indicating the trades were pre-arranged rather than discretionary, which typically signals routine portfolio or tax management activity.

Why did Bakkt (BKKT) insider Marc D'Annunzio sell shares in March 2026?

The sales were to cover tax obligations on vesting RSUs. A footnote explains that the transactions represent shares sold to satisfy tax liabilities associated with restricted stock unit vesting, making them primarily tax-related rather than purely opportunistic market trades.

What is notable about the weighted-average price in the Bakkt (BKKT) Form 4?

The March 30 sale used a weighted-average price of $7.0788. Shares were sold in multiple transactions between $6.89 and $7.8899, and the insider offers to provide detailed trade-by-trade pricing information to the company, security holders, or SEC staff upon request.

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

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Accepted by SEC EDGAR 03/31/2026 - 04:45 PM 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).

X

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^*

D'Annunzio Marc

(Last) (First) (Middle)

C/O BAKKT, INC.

1 LIBERTY ST FL 3 STE 305-306

(Street)

NEW YORK NEW YORK 10006

(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)
	General Counsel and Secretary

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/27/2026

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	03/27/2026		S		6,422(1)	D	$8.55	111,411(2)	D
Class A Common Stock	03/30/2026		S		5,342(4)	D	$7.0788(3)	106,069(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 30,622 shares of Class A Common Stock subject to restricted stock units and performance stock units awards that remain subject to vesting.

3. Represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $6.8900 to $7.8899, inclusive. For all transactions reported in this Form 4 utilizing a weighted-average price, the reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.

4. The sales were effectuated pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 09/10/2025.

	/s/ Marc D'Annunzio	03/31/2026
	** 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)