Kalnin Christopher P 4

What Happened
Christopher P. Kalnin, CEO of BKV Corp (BKV), acquired 829 shares on June 30, 2026 under the company's Employee Stock Purchase Plan (ESPP). The shares were purchased at $23.08 per share for a total cash outlay of $19,131. This is an acquisition (purchase) rather than a sale.

Key Details

• Transaction date: 2026-06-30; Filing date: 2026-07-01 (timely filing).
• Price: $23.08 per share; Total value: $19,131.
• Transaction type/code: A — acquisition through ESPP; exempt under Rule 16b-3(c) and 16b-3(d) (footnote F1).
• Purchase mechanics: ESPP price was 85% of the lesser of the closing price on Jan 1, 2026 or June 30, 2026 (footnote F2).
• Reporting note: The reporting person states this transaction is being reported voluntarily (F1).
• Shares owned after transaction: Not disclosed in the provided filing.

Context
ESPP purchases are routine employee offerings that typically allow employees (including executives) to buy stock at a discount; the 85% pricing here reflects that plan discount. Such purchases can be viewed as a constructive signal of insider buying but do not by themselves explain motivation. This was a direct purchase of shares (not an option exercise or a sale).