Baes Nicholas 4

What Happened
Nicholas Baes, Chief Operating Officer of Bakkt, sold 2,352 shares of Class A common stock on April 28, 2026 at $9.13 per share, generating proceeds of $21,474. The filing notes this was a sale to cover tax obligations related to the vesting of restricted stock units (RSUs), not a market-purchase.

Key Details

• Transaction date and price: 2026-04-28, sale of 2,352 shares at $9.13 each (total $21,474).
• Transaction type: Sale (code S); footnote indicates tax withholding sale associated with RSU vesting (F1).
• Shares owned after transaction: filing summary provided here does not list total beneficial ownership; filing notes 69,988 Class A shares are subject to RSU awards that remain subject to vesting (F2).
• Filing timeliness: Report filed 2026-04-29 for a 2026-04-28 transaction — appears timely.

Context
The sale was executed to cover taxes on vested RSUs (a routine “sell-to-cover” event), which is common and does not necessarily indicate a change in the insider’s view of the company. Purchases typically carry more weight as bullish signals; this transaction is primarily an administrative tax-related disposition.