Bakkt COO sells 1,562 shares to cover taxes

Bakkt, Inc. Chief Operating Officer Nicholas Baes reported a tax-related stock sale.

Rhea-AI Filing Summary

Bakkt, Inc. Chief Operating Officer Nicholas Baes reported a tax-related stock sale. He disposed of 1,562 shares of Class A Common Stock at $7.93 per share to cover tax obligations tied to vesting restricted stock units. After this transaction, he directly holds 105,375 shares of Class A Common Stock. This total includes 48,606 shares subject to restricted stock units that are still unvested and remain subject to vesting conditions, indicating the transaction is largely mechanical rather than a discretionary reduction of his overall equity exposure.

Insider Trade Summary

Net Seller: 1,562 shares

Net Sell 1 txn

Insider Baes Nicholas

Role Chief Operating Officer

Sold 1,562 shs ($12K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	1,562	$7.93	$12K

Holdings After Transaction: Class A Common Stock — 105,375 shares (Direct)

Footnotes (2)

1. F1. Represents sale to cover tax obligations associated with the vesting of restricted stock units.
2. F2. Includes 48,606 shares of Class A Common Stock subject to restricted stock units that remain subject to vesting.

Key Figures

Shares sold: 1,562 shares Sale price: $7.93 per share Shares held after transaction: 105,375 shares +1 more

4 metrics

Shares sold 1,562 shares Tax-related disposition on Class A Common Stock

Sale price $7.93 per share Price for 1,562-share sale

Shares held after transaction 105,375 shares Direct Class A Common Stock holdings post-transaction

Unvested RSU-linked shares 48,606 shares Class A Common Stock subject to unvested restricted stock units

Key Terms

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

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.

Class A Common Stock financial

"1,562 shares of Class A Common Stock at $7.93 per share"

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.

open-market sale financial

"transaction_action is described as an 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 insider transaction did Bakkt (BKKT) report for Nicholas Baes?

Bakkt reported that COO Nicholas Baes disposed of 1,562 shares of Class A Common Stock at $7.93 per share. The sale was made specifically to cover tax obligations arising from vesting restricted stock units, rather than a discretionary open-market sale.

Why did Bakkt COO Nicholas Baes sell 1,562 BKKT shares?

The 1,562-share sale by Bakkt COO Nicholas Baes was to cover tax obligations associated with the vesting of restricted stock units. This type of transaction is typically administrative, allowing taxes to be paid without requiring separate cash outlays by the executive.

How many Bakkt (BKKT) shares does Nicholas Baes hold after the reported sale?

Following the tax-related sale, Nicholas Baes directly holds 105,375 shares of Bakkt Class A Common Stock. This total includes both fully vested shares and 48,606 shares subject to restricted stock units that remain unvested and continue to be subject to vesting conditions.

Was the Bakkt COO’s 1,562-share transaction a routine tax withholding event?

Yes. A footnote explains the 1,562 shares sold by Bakkt’s COO were used to cover tax obligations from restricted stock unit vesting. Such transactions are generally viewed as routine administrative events rather than discretionary investment decisions or traditional open-market selling.

What portion of Nicholas Baes’s Bakkt holdings is still tied to unvested restricted stock units?

Out of Nicholas Baes’s 105,375 Bakkt Class A Common Stock shares after the sale, 48,606 shares are subject to restricted stock units that remain unvested. These RSUs continue to depend on meeting vesting conditions before becoming fully transferable common shares.

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

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Accepted by SEC EDGAR 06/29/2026 - 06:10 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^*

Baes Nicholas

(Last) (First) (Middle)

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 Operating 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		1,562(1)	D	$7.93	105,375(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 48,606 shares of Class A Common Stock subject to restricted stock units that remain subject to vesting.

Remarks:

	/s/ Nicholas Baes	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)