VPC Impact Acquisition Holdings Sponsor, LLC - 15 Oct 2021 Form 4 Insider Report for Bakkt Holdings, Inc. (BKKT)

Role
Director, 10%+ Owner
Signature
/s/ Brian Munsie, Attorney-in-Fact for VPC Impact Acquisition Holdings Sponsor, LLC
Issuer symbol
BKKT
Transactions as of
15 Oct 2021
Net transactions value
-$6,147,440
Form type
4
Filing time
15 Oct 2021, 19:16:42 UTC
Next filing
19 Nov 2021
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, par value $0.0001 per share Options Exercise +5,124,300 5,124,300 15 Oct 2021 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 Class B ordinary shares, par value $0.0001 Options Exercise $0 -5,124,300 -100% $0.000000* 0 15 Oct 2021 Class A ordinary shares 5,124,300 Direct F1, F3
transaction BKKT Private Placement Warrants Award $6,147,440 -6,147,440 -50% $1.00 6,147,440 15 Oct 2021 Class A Common Stock 6,147,440 $11.50 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

VPC Impact Acquisition Holdings Sponsor, LLC is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 In connection with the closing (the "Closing") of the business combination (the "Business Combination") between the Issuer (which was formerly known as VPC Impact Acquisition Holdings or "VIH") and Bakkt Holdings, LLC ("Bakkt"), among other things, (i) each of the then issued and outstanding Class B ordinary shares of VIH converted into Class A ordinary shares of VIH on a one-for-one basis as described under the heading "Description of Securities" in the Issuer's Registration Statement on Form S-1 (File No. 333-248619), (ii) VIH migrated to and domesticated as a Delaware corporation in accordance with Section 388 of the Delaware General Corporation Law, as amended, and the Cayman Islands Companies Act (As Revised) (the "Domestication") and (iii) each of the issued and outstanding Class A ordinary shares of VIH converted into shares of the Issuer's (after the Domestication) Class A common stock.
F2 The Private Placement Warrants were acquired from the Issuer in connection with its initial public offering. Each Private Placement Warrant is exercisable for one share of Class A common stock at an exercise price of $11.50 per share, subject to certain adjustments. The Private Placement Warrants may be exercised commencing 30 days after the Closing and expire five years after the Closing or earlier upon redemption or liquidation.
F3 VPC Impact Acquisition Holdings Sponsor, LLC is the record holder of the securities reported herein. Richard N. Levy, as Chief Executive Officer and Founder of Victory Park Capital Advisors, LLC, has voting and investment discretion with respect to the securities held of record by VPC Impact Acquisition Holdings Sponsor, LLC. Mr. Levy disclaims any beneficial ownership of the securities held by VPC Impact Acquisition Holdings Sponsor, LLC other than to the extent of any pecuniary interest he may have therein, directly or indirectly.

Remarks:

Director by Deputization See Exhibit 99.1 - Joint Filer Information, which is incorporated herein by reference and describes in further detail the relationships of the Reporting Persons to the Issuer.