Marc D'Annunzio - Aug 31, 2022 Form 4 Insider Report for Bakkt Holdings, Inc. (BKKT)

Role
General Counsel & Secretary
Signature
/s/ Marc D'Annunzio
Stock symbol
BKKT
Transactions as of
Aug 31, 2022
Transactions value $
$0
Form type
4
Date filed
9/2/2022, 04:34 PM
Previous filing
Feb 17, 2022
Next filing
Feb 6, 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BKKT Class A Common Stock Conversion of derivative security $0 +250K +86.96% $0.00 537K Aug 31, 2022 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction BKKT Bakkt Opco Units Conversion of derivative security $0 -250K -16.08% $0.00 1.3M Aug 31, 2022 Class A Common Stock 250K Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes 287,491 shares of Class A Common Stock subject to RSUs that remain subject to vesting.
F2 Represents incentive units of Bakkt Management LLC, which units are, subject to certain limitations, redeemable at the request of the Reporting Person in exchange for the indicated number of common units of Bakkt Opco Holdings, LLC "(Bakkt Opco Units") and an equal number of shares of the Issuer's Class V Common Stock.
F3 Pursuant to the terms of an Amended and Restated Exchange Agreement dated as of May 3, 2022, subject to certain conditions, Bakkt Opco Units together with an equal number of shares of the Issuer's Class V Common Stock, are exchangeable by the Reporting Person for shares of the Issuer's Class A Common Stock on a one-for-one basis.