Every Form 4 that Bakkt, Inc. (BKKT) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A Form 4 covers the transactions officers, directors and large holders report, so if you follow BKKT and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BKKT filings page.
Bakkt, Inc. (BKKT) director Alfred Michael reported an open-market purchase of 296,567 shares of Class A Common Stock on 2026-08-18. The shares were bought indirectly through Alpine Fox LP, over which he has control, at a weighted-average price of $7.12 per share in multiple trades between $6.88 and $7.32. Following this transaction, his indirect holdings through the limited partnership total 1,201,567 shares of Class A Common Stock. The filing’s Rule 10b5-1 box was unchecked, indicating the trade was not reported as made under a 10b5-1 trading plan.
Bakkt, Inc. general counsel and secretary Marc D'Annunzio reported selling 539 shares of Class A Common Stock on 2026-07-15 at $8.44 per share. The sale covered tax obligations from restricted stock unit vesting, and he now directly holds 108,278 shares, including 12,829 subject to continued vesting.
Bakkt, Inc. Chief Financial Officer Alexander Karen reported selling 657 shares of Class A Common Stock on July 15, 2026 at $8.44 per share. A footnote states the sale was to cover tax obligations from restricted stock unit vesting. Following the transaction, he directly owns 53,542 shares, including 12,829 shares underlying restricted stock units that remain subject to vesting.
Bakkt, Inc. Chief Accounting Officer Joseph Sean-Walsh reported a sale of 94 shares of Class A Common Stock on July 15, 2026 at $8.33 per share. The sale covered tax obligations from vesting restricted stock units, leaving him with 12,954 shares, including 2,640 unvested RSUs and performance stock units.
Bakkt, Inc. Chief Accounting Officer Joseph Sean-Walsh reported an open-market sale of 349 shares of Class A Common Stock at $7.93 per share. According to the filing, this sale was made to cover tax obligations related to vesting restricted stock units. Following the transaction, he holds 13,048 shares directly, including 2,904 shares subject to restricted stock units that are still vesting.
Bakkt, Inc. General Counsel & Secretary Marc D’Annunzio reported open-market sales of a total of 2,919 shares of Class A Common Stock on June 25 and June 26, 2026, at weighted-average prices of about $7.93 and $7.71 per share.
Footnotes state these transactions were made to cover tax obligations tied to vesting of restricted stock units and were executed under a pre-arranged Rule 10b5-1 trading plan. After the sales, he directly holds 108,817 shares, including 14,567 shares subject to restricted and performance stock units that remain subject to vesting, indicating only a small portion of his position was sold.
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.
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.
Bakkt, Inc. director Michael Alfred increased his indirect stake through open-market purchases of Class A common stock. On June 9, an affiliated limited partnership bought 180,000 shares at an average price of $7.71 per share. On June 10, it bought another 100,000 shares at an average of $7.83 per share. Following these transactions, the partnership holds 905,000 shares indirectly controlled by Alfred. He also has a direct holding of 28,476 shares of Class A common stock subject to RSUs that remain unvested and depend on continued service.
Bakkt, Inc. Chief Operating Officer Nicholas Baes exercised stock options to acquire 671 shares of Class A Common Stock at $10.00 per share. After the transaction, he directly holds 106,937 Class A shares, including 69,988 shares subject to unvested RSU awards, and 52,349 stock options remain outstanding under the referenced option grant.
Bakkt, Inc.’s Chief Financial Officer Alexander Karen exercised stock options to acquire 335 shares of Class A common stock at $10.00 per share on May 15, 2026. After the exercise, he directly holds 56,106 shares, including 18,852 shares subject to restricted and performance stock units that still must vest.
The options exercised are part of a grant that requires a predetermined number of options to be exercised each quarter over eight quarters at $10.00 per share, with each quarterly tranche exercisable only during a defined two-day exercise period, subject to blackout-period adjustments.
Bakkt, Inc. General Counsel & Secretary Marc D'Annunzio exercised stock options for 1,677 shares of Class A common stock at $10.00 per share. After the transaction, he directly holds 111,736 common shares, which include 14,861 shares tied to restricted and performance stock unit awards that are still subject to vesting.
Bakkt, Inc. director Michael Alfred reported indirect open-market purchases of a total of 585,000 shares of Class A Common Stock through Alpine Fox LP at weighted-average prices of about $8.20 and $8.34 per share on May 15 and May 18, 2026. Following these transactions, Alpine Fox LP holds 625,000 shares indirectly, and Alfred also has 28,476 directly held shares subject to RSUs that remain subject to vesting.
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.
Bakkt, Inc. CEO and President Akshay Sudhir Naheta reported an acquisition of 7,927,831 shares of Class A Common Stock on April 30, 2026. The shares were issued at $0.00 per share as stock consideration for Bakkt’s acquisition of Distributed Technologies Research Global Ltd. (DTR).
These shares, described as “Consideration Shares” in the Share Purchase Agreement dated January 11, 2026, were issued to Naheta in his capacity as a DTR stockholder at the deal’s closing. Following this issuance, he directly holds 9,026,408 shares of Bakkt Class A Common Stock.
Bakkt, Inc. Chief Financial Officer Alexander Karen sold 4,684 shares of Class A common stock at $9.13 per share. The footnote explains this sale was made to cover tax obligations from vesting restricted stock units, making it a mechanically driven transaction rather than a discretionary sale.
After the sale, Karen directly holds 55,771 shares of Class A common stock, which includes 18,852 shares subject to restricted stock units and performance stock units that are still subject to vesting conditions.
Bakkt, Inc. Chief Operating Officer Nicholas Baes reported a small open-market sale of 2,352 shares of Class A Common Stock at $9.13 per share. The transaction was made to cover tax obligations tied to vesting restricted stock units, according to the footnote.
After this transaction, Baes directly holds 106,266 shares of Class A Common Stock, including 69,988 shares underlying RSU awards that are still subject to vesting conditions.
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.
Bakkt, Inc. Chief Operating Officer Nicholas Baes reported an open-market sale of 711 shares of Class A Common Stock at $7.56 per share on April 6, 2026. A footnote explains this sale was made to cover tax obligations from vesting restricted stock units.
After the transaction, Baes directly held 101,312 shares of Class A Common Stock, including 77,294 shares subject to RSU awards that are still scheduled to vest over time. This filing reflects a small, tax-related disposition relative to his remaining equity position.
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.
Bakkt, Inc. General Counsel and Secretary Marc D'Annunzio reported an open-market sale of 785 shares of Class A common stock on February 24, 2026 at a weighted-average price of $10.0947 per share. After this sale, he directly owned 117,833 shares, including 50,229 shares subject to restricted and performance stock units that still need to vest.
The sale was carried out under a pre-established Rule 10b5-1 trading plan adopted on September 10, 2025. Separately, he held stock options covering 132,551 shares, granted on July 29, 2025, which become exercisable in quarterly tranches over eight quarters with complex exercise and forfeiture conditions.
Bakkt Holdings, Inc. officer and Chief Accounting Officer Joseph Sean-Walsh Henderson reported a sale of company stock. On 12/19/2025, he sold 2,461 shares of Class A Common Stock at a price of $10.01 per share. The company states this sale represents shares sold to cover tax obligations related to the vesting of restricted stock units (RSUs). After this transaction, he beneficially owns 10,936 shares of Class A Common Stock, which includes 6,851 shares subject to RSU awards that are still subject to vesting.
Bakkt Holdings, Inc. (BKKT) reported a significant equity conversion involving a major shareholder. Intercontinental Exchange Holdings, Inc. (ICEH), a director and more than 10% owner, acquired 465,890 shares of Bakkt Class A common stock on December 3, 2025.
The shares came from ICEH’s Series A Non-Voting Convertible Preferred Stock, received as part of Bakkt’s November 3, 2025 reorganization. ICEH contributed its rights under a tax receivable agreement to Bakkt, received a cash payment equal to its entitlement, and then contributed that cash back for 465,890 preferred shares, which automatically converted into Class A common stock after early termination of the Hart-Scott-Rodino waiting period by the Federal Trade Commission on December 3, 2025.
Following the transaction, ICEH indirectly beneficially owned 7,919,002 Class A shares. ICEH also holds Class 1 and Class 2 warrants, each covering 230,680 Class A shares at an exercise price of $25.5 per share, exercisable from November 3, 2025 until September 4, 2029.
Bakkt Holdings, Inc. reports updated ownership details for Intercontinental Exchange entities following a corporate reorganization completed on November 3, 2025. Through a series of mergers, Bakkt’s prior holding structure was consolidated so that only a single class of common stock, Class A, remains outstanding while preserving existing economic interests.
OpCo common units paired with Class V common stock were exchanged into Class A common stock, and Intercontinental Exchange Holdings, Inc. indirectly holds 7,453,112 shares of Class A common stock after these transactions. ICEH also received 465,890 shares of Series A Non-Voting Convertible Preferred Stock, which will automatically convert into Class A common stock upon satisfaction of Hart-Scott-Rodino waiting period conditions or transfer to an unaffiliated party. Existing Class 1 and Class 2 warrants, each for 230,680 shares of Class A common stock, were carried over as equivalent, immediately exercisable warrants. The report also corrects earlier coding and reporting-person details.
Bakkt Holdings, Inc. director Michael Alfred reported a new equity award on a Form 4. On 11/19/2025, he acquired 9,000 shares of Class A common stock in the form of restricted stock units (RSUs) at a stated price of $0. Each RSU represents a right to receive one share of Class A common stock, and 100% of these RSUs are scheduled to vest on November 9, 2026, if he continues to provide service to the company through that date.
After this grant, Alfred is shown as beneficially owning 28,476 shares of Class A common stock directly, including shares subject to RSUs that are still unvested. He is also reported as indirectly holding 40,000 shares of Class A common stock through Alpine Fox LP, over which he has control, while disclaiming beneficial ownership beyond his economic interest.
Bakkt Holdings, Inc. (BKKT) CEO and President Akshay Naheta reported the vesting of 803,861 performance stock units into Class A Common Stock on November 14, 2025 at a price of $0 per share. Following this transaction, he beneficially owned 1,098,577 shares of Class A Common Stock, which includes 11,426 restricted stock units scheduled to vest on March 21, 2026, subject to continued employment.
The filing also notes an inducement grant of performance stock units tied to stock price performance relative to a $9.33 reference price, with 803,861 of these units vesting after stock price conditions were met. In addition, Naheta holds stock options covering 1,308,725 shares of Class A Common Stock at an exercise price of $10 per share, structured in quarterly tranches with specific exercise and forfeiture mechanics.
Bakkt Holdings, Inc. (BKKT) reported an insider equity transaction by CEO, President and Director Akshay Sudhir Naheta. On 11/14/2025, 803,861 performance stock units vested and were settled in shares of Class A Common Stock at a reported price of $0, increasing his directly held stake to 1,098,577 shares, including 11,426 restricted stock units that are scheduled to vest on March 21, 2026, subject to continued employment.
The vested performance stock units are part of an inducement grant that can vest over a three-year performance period starting March 21, 2025, based on the stock’s 90-day volume-weighted average price appreciating at least 100% above a $9.33 reference price, with additional vesting in set tranches for further stock price appreciation. The filing also reflects stock options covering 1,308,725 shares of Class A Common Stock at an exercise price of $10 per share, structured in quarterly tranches with specific exercise and lock-up conditions.
Bakkt Holdings, Inc. (BKKT) reported an insider equity update for its General Counsel & Secretary, following an equity-related tax withholding transaction.
On November 14, 2025, 495 shares of Class A Common Stock were withheld at a price of $21.61 to cover tax obligations tied to an option exercise. After this, the reporting person beneficially owned 118,618 Class A shares, including 50,229 shares subject to restricted stock units and performance stock units that are still vesting. The filing also shows outstanding stock options for 132,551 Class A shares at a $10 exercise price, granted on July 29, 2025, with a structured quarterly exercise and forfeiture schedule tied to shareholder-approved terms.
Bakkt Holdings, Inc. (BKKT) reported an insider equity transaction by its Chief Operating Officer, Nicholas Baes. On 11/14/2025, 198 shares of Class A common stock were withheld by the company at a price of $21.61 per share to cover tax obligations arising from an option exercise. Following this, Baes beneficially owned 105,945 shares of Class A common stock, including 96,143 shares subject to restricted stock units that are still vesting.
Baes also holds stock options covering 53,020 shares of Class A common stock at a $10 exercise price. These options were granted on 07/29/2025, became effective after shareholder approval on 10/31/2025, and are structured to become exercisable in eight quarterly tranches, with a required committed portion each quarter and additional optional portions subject to specific exercise periods and lock-up terms.
Bakkt Holdings, Inc. (BKKT) filed a Form 4 for its Chief Financial Officer, Karen Alexander. On 11/14/2025, 121 shares of Class A common stock were withheld at a price of $21.61 to cover tax obligations arising from an option exercise on November 12, 2025. After this transaction, Alexander beneficially owns 69,499 shares of Class A common stock.
The ownership figure includes 50,229 shares subject to restricted stock units and performance stock units that are still subject to vesting. Alexander also holds stock options with an exercise price of $10 per share covering 26,511 shares of Class A common stock. These options were granted on July 29, 2025, became effective after shareholder approval on October 31, 2025, and follow a structured quarterly exercise schedule with specific "committed" and "optional" tranches and related blackout and lock-up provisions.
Bakkt Holdings, Inc. (BKKT) reported insider equity activity by its CEO and President, Akshay Sudhir Naheta. On 11/12/2025, he exercised stock options and acquired 33,557 shares of Class A common stock at an exercise price of $10 per share, increasing his directly held position to 294,716 shares, which includes 11,426 restricted stock units scheduled to vest on March 21, 2026, subject to continued employment.
He also holds performance stock units covering 1,607,717 shares of Class A common stock. These PSUs may vest over a three-year performance period following March 21, 2025, based on the company’s stock price performance versus a $9.33 reference price, with specific tranches tied to 100% appreciation and additional 25% steps, and continued employment requirements. In addition, he holds options to purchase shares at $10 per share under a structure that commits him to exercise a portion each quarter over eight quarters, with detailed quarterly and lock-up conditions on early exercises.
Bakkt Holdings, Inc. (BKKT) reported that its General Counsel and Secretary, Marc D'Annunzio, exercised 1,677 stock options on 11/12/2025 at an exercise price of $10 per share, acquiring the same number of Class A common shares. Following this transaction, he directly beneficially owns 119,113 shares of Class A common stock, including 50,229 shares subject to restricted stock unit and performance stock unit awards that must still vest.
The filing also shows 132,551 stock options remaining beneficially owned, with an exercise price of $10 and a structured schedule under which one-eighth of the options is tied to quarterly “Committed Options” and related “Optional Exercise Options,” subject to defined exercise periods, forfeiture conditions, and lock-up constraints on certain early-exercised shares.
Bakkt Holdings, Inc. (BKKT) Chief Operating Officer Nicholas Baes reported exercising stock options for 671 shares of Class A common stock at an exercise price of $10 per share on November 12, 2025, in a transaction coded "M" (option exercise). After this transaction, he beneficially owned 106,143 shares of Class A common stock, including 96,143 shares subject to restricted stock units that are still vesting.
The exercised options are part of a larger grant of stock options awarded on July 29, 2025, which became effective after shareholder approval on October 31, 2025. Following the reported exercise, 53,020 stock options remain beneficially owned. The option grant has a structured quarterly exercise schedule over eight quarters, with required “Committed Options” each quarter and additional “Optional Exercise Options” that may be exercised over a one-year period, subject to lock-up conditions if exercised early.
Bakkt Holdings, Inc. reported an insider equity transaction by its Chief Financial Officer. On 11/12/2025, the CFO exercised stock options and acquired 335 shares of Class A Common Stock at a price of $10 per share. After this transaction, the reporting person beneficially owned 69,620 shares of Class A Common Stock, which includes 50,229 shares subject to restricted stock units and performance stock units that are still subject to vesting.
The transaction involved stock options granted on July 29, 2025, which became effective following shareholder approval obtained on October 31, 2025. These options are structured as a commitment to exercise a predetermined number of options each quarter over eight quarters, with specific quarterly exercise periods and additional lock-up conditions for certain early exercises.
Bakkt Holdings, Inc. (BKKT) officer Joseph Sean‑Walsh Henderson filed a Form 4 detailing two sales of Class A common stock. On 07/15/2025, he sold 95 shares at $18.75, noted as a sale to cover tax obligations from RSU vesting. On 11/12/2025, he sold 169 shares at $21.50.
Following these transactions, his directly held beneficial ownership changed from 13,566 shares after the July sale to 13,397 shares after the November sale. The filing notes this amount includes 13,397 shares subject to RSU awards that remain subject to vesting.
Bakkt Holdings, Inc. (BKKT) filed a Form 4 reporting changes in Intercontinental Exchange Holdings, Inc.’s indirect holdings tied to a corporate reorganization. Following the transactions on 11/03/2025, ICEH beneficially owned 7,453,112 shares of Class A Common Stock indirectly.
Activity included the acquisition of 649,934 Class A shares and the exchange of 6,803,178 OpCo units into Class A shares on a one-for-one basis, eliminating Class V shares. ICEH also received 465,890 shares of Series A Non‑Voting Convertible Preferred Stock, which convert to Class A upon specified HSR events. Previously acquired Class 1 and Class 2 warrants were exchanged for equivalent Issuer warrants, each covering 230,680 shares at $25.5, immediately exercisable and expiring on 09/04/2029.
Bakkt Holdings (BKKT) insider Marc D’Annunzio, General Counsel & Secretary, reported insider transactions. On November 3, 2025, he acquired 48,188 shares of Class A Common Stock (code M) following a corporate reorganization that exchanged OpCo incentive units and paired Class V stock for Class A shares. Following these transactions, he beneficially owns 117,436 Class A shares.
The filing notes that this total includes 50,229 shares subject to restricted and performance stock unit awards that remain subject to vesting. Separately, on October 31, 2025, he was granted stock options for 134,228 shares at an exercise price of $10 per share, contingent on prior shareholder approval. The options feature quarterly exercisability and a committed-exercise structure with limited exercise windows and potential forfeiture if not exercised as scheduled.
Bakkt Holdings (BKKT) reported an insider equity award by its Chief Operating Officer. On October 31, 2025, the officer reported receiving stock options for 53,691 shares of Class A Common Stock at an exercise price of $10 per share, contingent on shareholder approval obtained the same day. The options vest in eight quarterly tranches, with a required quarterly “committed” exercise and a one-year window for optional portions; early exercises are subject to a lock-up until the originally scheduled date.
Following the transaction, the officer beneficially owned 105,472 shares, which includes 96,143 RSUs that remain subject to vesting.
Bakkt Holdings (BKKT): Form 4 insider update. Chief Financial Officer Karen Alexander reported an equity award effective 10/31/2025. She acquired stock options covering 26,846 shares of Class A common stock at an exercise price of $10 per share and now holds 69,285 Class A shares directly.
The holding includes 50,229 shares subject to RSUs and performance stock units that remain subject to vesting. The options were granted on 07/29/2025, contingent on shareholder approval obtained on 10/31/2025, and are structured in eight quarterly tranches with a required “Committed Options” exercise each quarter, optional portions open for one year, and a lock-up for any early exercises until the originally scheduled date.
Bakkt Holdings (BKKT) reported insider activity by its CEO and President. On 11/03/2025, he acquired 69,733 shares of Class A common stock at $39.34, tied to a reorganization and contribution structure using the NYSE “Minimum Price.” Following this, he beneficially owned 261,159 shares.
The filing lists 11,426 RSUs included in that total, scheduled to vest on March 21, 2026. It also discloses 1,607,717 performance stock units eligible to vest over a three-year period from March 21, 2025, with 535,909 PSUs vesting if the 90‑day VWAP rises by 100% above $9.33, plus up to eight additional tranches of 133,976 PSUs for each further 25% increase.
Additionally, he holds stock options to purchase 1,342,282 shares at an exercise price of $10, granted on July 29, 2025 and approved on October 31, 2025, with required quarterly exercises across eight quarters and forfeiture if a quarter is missed.
Bakkt Holdings (BKKT) reported an insider equity grant. Director Michael Alfred filed a Form 4 showing the acquisition of 139 RSUs at $0 on 10/30/2025. Each RSU represents one share of Class A common stock.
Following the transaction, Alfred beneficially owned 19,476 shares directly and 40,000 shares indirectly through Alpine Fox LP. The filing notes he disclaims beneficial ownership of the indirect shares except to the extent of his pecuniary interest. The RSUs vest 100% on June 17, 2026, contingent on continued service.
Bakkt Holdings, Inc. insider Nicholas Baes, the company's Chief Operating Officer, reported a Form 4 disclosing a tax-withholding disposition tied to RSU vesting. On 09/25/2025, 810 shares of Class A Common Stock were withheld to satisfy tax withholding obligations related to RSUs that vested on 09/24/2025; the withholding used the closing share price on 09/24/2025. After the withholding, Mr. Baes beneficially owns 105,472 shares, which includes 96,143 shares underlying RSUs that remain subject to vesting. The Form 4 was signed on 09/29/2025 by Paul Simmons as attorney-in-fact.