D'Annunzio Marc 4

What Happened
Marc D'Annunzio, General Counsel and Secretary of Bakkt, sold 785 shares of Bakkt Class A common stock on February 24, 2026. The reported weighted-average sale price was $10.09 per share, for total proceeds of approximately $7,924. The filing identifies the sales as open-market/private sales executed pursuant to a pre-established Rule 10b5-1 trading plan.

Key Details

• Transaction date: 2026-02-24; Form 4 filed: 2026-02-27 (appears timely under the two-business-day Form 4 requirement).
• Amount sold: 785 shares; weighted-average price: $10.09; total proceeds: ~$7,924.
• Price range: sales occurred at prices between $10.0114 and $10.1200 (weighted-average reported; detailed per-price breakdown available on request as noted in the filing).
• Plan: Sale was effectuated under a Rule 10b5-1 trading plan adopted 09/10/2025 (footnote).
• Holdings: The filing notes Mr. D'Annunzio has 50,229 shares of Class A stock subject to restricted stock units/performance stock units that remain subject to vesting. The excerpt provided does not specify total shares owned after this sale.
• Options/awards: The filing also discloses stock options granted 7/29/2025 (exercise price $10.00) with a committed quarterly exercise schedule and related optional exercise and lock-up provisions (see footnotes F4–F6).
• Transaction code: S = Sale.

Context

• This was a sale (not a purchase or option exercise) and was executed under a 10b5-1 plan, which is a prearranged program insiders often use to sell shares on a set schedule. Such sales are commonly routine and do not by themselves indicate management sentiment.
• For the sales reported with a weighted-average price, the filer offers to provide the number of shares sold at each price within the reported range upon request.