VPC Impact Acquisition Holdings Sponsor, LLC - 17 Nov 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
17 Nov 2021
Net transactions value
$0
Form type
4
Filing time
19 Nov 2021, 11:16:04 UTC
Previous filing
15 Oct 2021
Next filing
21 Dec 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 Exercise of in-the-money or at-the-money derivative security +3,967,362 +77% 9,091,662 17 Nov 2021 Direct F1, F2, F3

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 Private Placement Warrants Exercise of in-the-money or at-the-money derivative security -6,147,440 -100% 0 17 Nov 2021 Class A Common Stock 3,967,362 $11.50 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 VPC Impact Acquisition Holdings Sponsor, LLC ("VIH Sponsor") exercised the Private Placement Warrants on a "cashless" basis pursuant to the warrant agreement governing such Private Placement Warrants.
F2 The Private Placement Warrants were acquired from the Issuer in connection with its initial public offering and became exercisable beginning 30 days after the closing (the "Closing") of the business combination between the Issuer (which was formerly known as VPC Impact Acquisition Holdings or "VIH") and Bakkt Holdings, LLC ("Bakkt"), expiring five years after Closing. Each Private Placement Warrant was exercisable for one share of Class A common stock at an exercise price of $11.50 per share, subject to certain adjustments.
F3 VIH Sponsor 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 VIH Sponsor. Mr. Levy disclaims any beneficial ownership of the securities held by VIH Sponsor 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.