[Form 4] BKV Corp Insider Trading Activity

Rhea-AI Filing Summary

BKV Corp reported that its Chief Executive Officer and director filed a Form 4 for a planned stock sale. On 11/17/2025, the reporting person sold 78,281 shares of BKV common stock at a weighted average price of $28.0369 per share, in multiple trades between $28.00 and $28.28. The sale was executed under a pre-arranged Rule 10b5-1 trading plan adopted on March 14, 2025. After this transaction, the reporting person beneficially owned 1,248,580 shares directly and 875,754 shares indirectly through a spouse.

Insights

Insider Transactions Analyst

CEO sold shares under a pre-set 10b5-1 plan; position remains sizable, impact appears neutral.

The filing shows the **CEO and director of BKV Corp** sold **78,281 shares of Common Stock** on 11/17/2025 at a weighted average price of $28.0369, coded as a sale ("S"). This was executed under a **Rule 10b5‑1 trading plan** adopted on March 14, 2025, which means the sale followed a pre-arranged schedule rather than an ad hoc trading decision. After the sale, the reporting person directly owns **1,248,580 shares**, and there are an additional **875,754 shares held indirectly by spouse**.

The use of a 10b5‑1 plan reduces concerns that the transaction reflects a new view on the company’s prospects, because the plan was set months earlier. The CEO’s remaining combined beneficial holdings are still large relative to the shares sold, which suggests this is a **partial monetization** rather than a full or majority exit of exposure. The price range for the sales was **$28.00 to $28.28**, which is disclosed as a weighted average to comply with reporting rules.

Key items to watch going forward are whether similar planned sales continue under this 10b5‑1 plan and how the CEO’s **beneficial ownership level** changes over time. Additional Form 4 filings around or after Q4 2025 will show if this is part of a series of comparable transactions or a one‑off event. Any significant reduction in either the direct holdings of **1,248,580 shares** or the **875,754 indirectly held by spouse** could alter how this pattern is interpreted.

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^*

Kalnin Christopher P

(Last) (First) (Middle)

1200 17TH STREET, SUITE 2100

(Street)

DENVER CO 80202

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BKV Corp [ BKV ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
11/17/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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
Common Stock	11/17/2025		S(1)		78,281	D	$28.0369(2)	1,248,580	D
Common Stock								875,754	I	By Spouse

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. The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 14, 2025.

2. The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $28.00 to $28.28, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Remarks:

	/s/ Kathleen Lenox, attorney-in-fact	11/17/2025
	** 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.

FAQ

What transaction did BKV (BKV) disclose in this Form 4?

The filing shows that the Chief Executive Officer and director of BKV Corp reported a sale of 78,281 shares of BKV common stock on 11/17/2025.

At what price were the BKV (BKV) shares sold in this insider transaction?

The shares were sold at a weighted average price of $28.0369 per share, with individual trade prices ranging from $28.00 to $28.28, inclusive.

How many BKV (BKV) shares does the insider own after this Form 4 transaction?

Following the reported sale, the insider beneficially owned 1,248,580 BKV common shares directly and 875,754 shares indirectly through a spouse.

Was the BKV (BKV) insider sale made under a Rule 10b5-1 trading plan?

Yes. The filing states that the transaction was executed pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 14, 2025.

Who is the reporting person in this BKV (BKV) Form 4 filing?

The reporting person is identified as a director and Chief Executive Officer of BKV Corp, indicating an officer and board role at the company.

How is the indirect ownership of BKV (BKV) shares held by the insider characterized?

The Form 4 shows 875,754 BKV shares reported as indirectly owned, with the nature of this indirect beneficial ownership described as "By Spouse."