Bakkt counsel sells 7,780 shares in tax-related trade

Bakkt, Inc. General Counsel & Secretary Marc D’Annunzio reported open-market sales of 7,780 shares of Class A Common Stock.

Rhea-AI Filing Summary

Bakkt, Inc. General Counsel & Secretary Marc D’Annunzio reported open-market sales of 7,780 shares of Class A Common Stock. The transactions occurred on April 28, 2026 at weighted-average prices of about $8.60 and $9.13 per share.

According to the filing footnotes, the sales were made to cover tax obligations tied to vesting restricted stock units and were executed under a pre-arranged Rule 10b5-1 trading plan. After these tax-related sales, he continued to hold a direct stake of more than 100,000 shares, including shares underlying unvested restricted stock and performance stock units.

Insider Trade Summary 10b5-1

Net Seller: 7,780 shares

Net Sell 2 txns

Insider D'Annunzio Marc

Role General Counsel & Secretary

Sold 7,780 shs ($69K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	3,789	$9.13	$35K
Sale	Class A Common Stock	3,991	$8.60	$34K

Holdings After Transaction: Class A Common Stock — 110,059 shares (Direct)

Footnotes (5)

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 awards that remain subject to vesting.
3. F3. The sales were effectuated pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 09/10/2025.
4. F4. Represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $8.51 to $8,60, 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.
5. F5. Includes 14,861 shares of Class A Common Stock subject to restricted stock units and performance stock units awards that remain subject to vesting.

Key Figures

Total shares sold: 7,780 shares Sale tranche 1 price: $8.60 per share Sale tranche 2 price: $9.13 per share +4 more

7 metrics

Total shares sold 7,780 shares Open-market sales on April 28, 2026

Sale tranche 1 price $8.60 per share 3,991 shares of Class A Common Stock

Sale tranche 2 price $9.13 per share 3,789 shares of Class A Common Stock

Shares held after one tranche 110,059 shares Class A Common Stock held directly after one reported sale

Shares held after other tranche 114,050 shares Class A Common Stock held directly after another reported sale

Unvested equity (example) 18,852 shares RSUs and performance stock units remaining subject to vesting per footnote

Unvested equity (example) 14,861 shares Additional RSUs and performance stock units remaining subject to vesting

Key Terms

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

5 terms

Rule 10b5-1 trading plan regulatory

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

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

"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

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

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"

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.

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

Bakkt reported that General Counsel & Secretary Marc D’Annunzio sold 7,780 shares of Class A Common Stock. The sales were disclosed as open-market transactions executed on April 28, 2026, and are detailed in a Form 4 insider trading report.

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

Marc D’Annunzio’s reported sales occurred at weighted-average prices of $8.60 and $9.13 per share. The filing notes that shares were sold in multiple trades within price ranges around these averages and that detailed breakdowns are available upon request.

Why did Bakkt’s General Counsel sell 7,780 BKKT shares?

The filing states the sales were made to cover tax obligations from vesting restricted stock units. This means shares were sold primarily to satisfy associated tax liabilities rather than as a discretionary reduction of his equity position in Bakkt.

Were Marc D’Annunzio’s Bakkt (BKKT) share sales pre-planned?

Yes. The footnotes explain that the sales were executed under a Rule 10b5-1 trading plan adopted by Marc D’Annunzio on September 10, 2025. Such plans pre-schedule trades, which can make the timing less indicative of short-term views.

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

After the reported sales, Marc D’Annunzio continued to hold more than 100,000 shares of Class A Common Stock. The filing also notes that a portion of his holdings consists of restricted stock and performance stock units that remain subject to vesting.

What equity awards remain for Marc D’Annunzio at Bakkt (BKKT)?

The filing notes that his holdings include restricted stock units and performance stock units that remain subject to vesting. Specific footnotes reference 18,852 and 14,861 shares tied to these awards at different points, highlighting ongoing equity-based compensation.

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

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Accepted by SEC EDGAR 04/29/2026 - 06:33 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.

3280 PEACHTREE RD 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)
	General Counsel & Secretary

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		3,789(1)	D	$9.13	114,050(2)	D
Class A Common Stock	04/28/2026		S		3,991(3)	D	$8.6(4)	110,059(5)	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 awards that remain subject to vesting.

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

4. Represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $8.51 to $8,60, 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.

5. Includes 14,861 shares of Class A Common Stock subject to restricted stock units and performance stock units awards that remain subject to vesting.

Remarks:

	/s/ Marc D'Annunzio	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)