Baes Nicholas 4

What Happened Nicholas Baes, Chief Operating Officer of Bakkt, sold 711 shares of Bakkt Class A common stock on April 6, 2026, at $7.56 per share for a total of about $5,375. The filing lists the transaction as a sale; a footnote states the sale was to cover tax obligations associated with the vesting of restricted stock units (RSUs).

Key Details

• Transaction date and price: 2026-04-06, 711 shares sold at $7.56/share (total ≈ $5,375).
• Filing date: Form 4 filed on 2026-04-08 (timely filing).
• Reason/footnote: F1 — sale to cover tax obligations from RSU vesting (sell-to-cover).
• Holdings note: F2 — filing references 77,294 shares of Class A common stock subject to RSU awards that remain subject to vesting (these are not yet vested/fully owned).

Context Sell-to-cover transactions after RSU vesting are common and typically executed to satisfy tax withholding; they do not necessarily indicate a change in the insider’s view of the company. Purchases tend to be more indicative of a bullish signal; this filing documents a routine disposition tied to tax obligations.