Marc D'Annunzio - Feb 28, 2023 Form 4 Insider Report for Bakkt Holdings, Inc. (BKKT)

Role
General Counsel & Secretary
Signature
/s/ Marc D'Annunzio
Stock symbol
BKKT
Transactions as of
Feb 28, 2023
Transactions value $
$0
Form type
4
Date filed
3/2/2023, 04:22 PM
Previous filing
Feb 28, 2023
Next filing
May 2, 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 +100K +15.79% $0.00 733K Feb 28, 2023 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 -100K -7.66% $0.00 1.2M Feb 28, 2023 Class A Common Stock 100K Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes 383,320 shares of Class A Common Stock subject to restricted stock units ("RSUs") awards that remain subject to vesting. Each RSU represents a contingent right to receive one share of the issuer's Class A Common Stock.
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.