Bakkt CFO sells shares to cover tax obligations

Bakkt, Inc. Chief Financial Officer Alexander Karen reported an open-market sale of 1,907 shares of Class A Common Stock at $7.93 per share.

Rhea-AI Filing Summary

Bakkt, Inc. Chief Financial Officer Alexander Karen reported an open-market sale of 1,907 shares of Class A Common Stock at $7.93 per share. According to the disclosure, this sale was made to cover tax obligations from the vesting of restricted stock units.

After the transaction, Karen directly holds 54,199 shares of Class A Common Stock, which includes 14,576 shares subject to restricted stock units and performance stock units that are still subject to vesting.

Insider Trade Summary

Net Seller: 1,907 shares

Net Sell 1 txn

Insider Alexander Karen

Role Chief Financial Officer

Sold 1,907 shs ($15K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	1,907	$7.93	$15K

Holdings After Transaction: Class A Common Stock — 54,199 shares (Direct)

Footnotes (2)

1. F1. Represents sale to cover tax obligations associated with the vesting of restricted stock units.
2. F2. Includes 14,576 shares of Class A Common Stock subject to restricted stock units and performance stock units that remain subject to vesting.

Key Figures

Shares sold: 1,907 shares Sale price: $7.93 per share Shares held after transaction: 54,199 shares +1 more

4 metrics

Shares sold 1,907 shares Open-market sale on 2026-06-25

Sale price $7.93 per share Price for Class A Common Stock sold

Shares held after transaction 54,199 shares Direct Class A Common Stock ownership after sale

Unvested RSUs/PSUs 14,576 shares Class A Common Stock underlying awards still subject to vesting

Key Terms

restricted stock units, performance stock units, open-market sale, Class A Common Stock

4 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.

performance stock units financial

"shares of Class A Common Stock subject to restricted stock units and performance stock units"

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.

Class A Common Stock financial

"security_title": "Class A Common Stock""

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 1,907 shares of Class A Common Stock at $7.93 per share. The filing states this sale was made specifically to cover tax obligations arising from the vesting of restricted stock units.

Why did Bakkt (BKKT) CFO Alexander Karen sell 1,907 shares?

The sale of 1,907 shares by CFO Alexander Karen was to cover tax obligations associated with the vesting of restricted stock units. This type of transaction is described as tax-related rather than a discretionary open-market sale for portfolio rebalancing.

How many Bakkt (BKKT) shares does the CFO hold after this Form 4 transaction?

Following the reported transaction, CFO Alexander Karen directly holds 54,199 shares of Bakkt Class A Common Stock. This total includes 14,576 shares underlying restricted stock units and performance stock units that remain subject to future vesting conditions.

What price was received in the Bakkt (BKKT) CFO’s reported share sale?

The reported transaction shows CFO Alexander Karen sold 1,907 shares of Bakkt Class A Common Stock at $7.93 per share. The filing characterizes this as an open-market sale executed to satisfy tax obligations tied to restricted stock unit vesting.

Are all of Bakkt (BKKT) CFO’s reported shares fully vested after this transaction?

No. The filing notes that 14,576 of the 54,199 shares reported after the transaction are tied to restricted stock units and performance stock units. These shares remain subject to vesting conditions and are not yet fully unrestricted.

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

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Accepted by SEC EDGAR 06/29/2026 - 06:08 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)
06/25/2026

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	06/25/2026		S		1,907(1)	D	$7.93	54,199(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 14,576 shares of Class A Common Stock subject to restricted stock units and performance stock units that remain subject to vesting.

Remarks:

	/s/ Karen Alexander	06/29/2026
	** 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)