D'Annunzio Marc 4

What Happened

• Marc D'Annunzio, Bakkt’s General Counsel and Secretary, sold a total of 11,764 shares in two open‑market transactions. On 2026-03-27 he sold 6,422 shares at $8.55 each for $54,908. On 2026-03-30 he sold 5,342 shares for aggregate proceeds of $37,815 (weighted‑average price reported as $7.08). Total proceeds across both sales were about $92,723. These were sales (not purchases).

Key Details

• Transaction dates and prices:
  • 2026-03-27: 6,422 shares @ $8.55 = $54,908
  • 2026-03-30: 5,342 shares @ weighted‑average $7.08 = $37,815 (reported range $6.8900–$7.8899)
• Shares owned after transaction: the filing excerpt does not state total beneficially owned; it does note 30,622 shares of Class A common stock remain subject to restricted stock units and performance stock units that are unvested (footnote F2).
• Footnotes of note:
  • F1: The sale(s) included transactions to cover tax obligations associated with RSU vesting.
  • F3: The 3/30 sale used a weighted‑average price; the filer can provide per‑trade prices on request.
  • F4: Sales were made under a Rule 10b5‑1 trading plan adopted 09/10/2025.
• Filing: Form 4 filed 2026-03-31 for transactions through 2026-03-30 (no lateness flag indicated in the excerpt).

Context

• These were prearranged sales under a 10b5‑1 plan and included tax‑withholding sales related to RSU vesting—both are common, routine insider transactions and do not by themselves indicate a change in the executive’s view of the company. Purchases generally carry more weight as signals; sales for tax withholding or under preplanned 10b5‑1 programs are typically administrative.