Bakkt Inc. (NYSE:BKKT) shares jumped 16.17% to $10.13 after the bell on Monday, after Securities and Exchange Commission filings disclosed insider activity.

Insider Activity

Director Michael Alfred, through the Las Vegas-based hedge fund Alpine Fox LP, bought 365,000 shares on May 15 at a weighted average price of $8.34 per share. He then purchased another 220,000 shares on May 18 at $8.20 per share.

The two transactions totaled about 585,000 shares valued at approximately $4.85 million. Following the purchases, Alfred indirectly owns 625,000 shares.

According to a separate SEC filing, CEO Akshay Sudhir Naheta exercised 33,557 committed stock options on May 15 at $10 per share, for a total…

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