D'Annunzio Marc 4

What Happened Marc D'Annunzio, General Counsel & Secretary of Bakkt, disposed of a total of 7,780 shares on April 28, 2026 in two open-market transactions: 3,789 shares at $9.13 for $34,594 and 3,991 shares at a weighted-average price of $8.60 (range $8.51–$8.60) for $34,323, for combined proceeds of approximately $68,917. The filings state these sales were made to cover tax obligations arising from the vesting of restricted stock units and were executed pursuant to a Rule 10b5-1 trading plan adopted on 09/10/2025.

Key Details

• Transaction date: 2026-04-28 (Form 4 filed 2026-04-29 — appears timely).
• Sales: 3,789 sh @ $9.13 ($34,594) and 3,991 sh @ weighted-average $8.60 ($34,323); total 7,780 sh, ~$68,917.
• Reason: Sale to cover tax withholding on RSU vesting (footnote F1).
• Trading plan: Executed under a Rule 10b5-1 plan adopted 09/10/2025 (F3).
• Price detail: weighted-average price used; actual sale prices ranged $8.51–$8.60 (F4).
• Vesting holdings noted: filing footnotes reference 18,852 and 14,861 shares of Class A common stock that remain subject to RSU/PSU vesting (F2, F5).
• Shares owned after transaction: not specified in the data provided in this summary.

Context These were sales (not purchases) tied to routine tax withholding for vested equity — a common administrative action and not necessarily a signal about executive sentiment. Sales executed under a pre-established 10b5-1 plan are typically scheduled in advance and help insiders avoid trading on nonpublic information. For retail investors, purchases by insiders often carry more weight as a signal than routine withholding sales.