Sean Roberts Collins - Nov 16, 2023 Form 4 Insider Report for Bakkt Holdings, Inc. (BKKT)

Role: Director
Signature: /s/Marc D'Annunzio Attorney-in-Fact for Sean Roberts Collins
Stock symbol: BKKT
Transactions as of: Nov 16, 2023
Transactions value $: $0
Form type: 4
Date filed: 11/17/2023, 04:28 PM
Previous filing: Jun 8, 2023
Next filing: Dec 11, 2023

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	+2.75M		$0.00	2.75M	Nov 16, 2023	See Footnotes	F1, F2
transaction	BKKT	Class A Common Stock	Conversion of derivative security	$0	+156K		$0.00	156K	Nov 16, 2023	See Footnotes	F2, F3
holding	BKKT	Class A Common Stock						458K	Nov 16, 2023	Direct	F4
holding	BKKT	Class A Common Stock						582K	Nov 16, 2023	See Footnotes	F2, F5

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	-2.75M	-100%	$0.00^*	0	Nov 16, 2023	Class A Common Stock	2.75M		See Footnotes	F1, F2, F6
transaction	BKKT	Bakkt Opco Units	Conversion of derivative security	$0	-156K	-100%	$0.00^*	0	Nov 16, 2023	Class A Common Stock	156K		See Footnotes	F2, F3, F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents securities held directly by Goldfinch Co-Invest I LP.
F2	The general partner of each of Goldfinch Co-Invest I LP, Goldfinch Co-Invest IB LP and Goldfinch Co-Invest IC LP is Goldfinch Co-Invest I GP LLC. The Reporting Person is a Managing Partner of Goldfinch Co-Invest I GP LLC. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein.
F3	Represents securities held directly by Goldfinch Co-Invest IB LP.
F4	Includes 275,000 shares of Class A Common Stock subject to restricted stock units that remain subject to vesting.
F5	Represents securities held directly by Goldfinch Co-Invest IC LP.
F6	Common units of Bakkt Opco Holdings, LLC ("Bakkt Opco Units") and an equal number of shares of the Issuer's Class V Common Stock are, subject to certain limitations, exchangeable from time to time at the holder's option into shares of the Issuer's Class A Common Stock on a one-for-one basis (or, at the Issuer's option, for cash).