Marc D'Annunzio - 24 Feb 2023 Form 4 Insider Report for Bakkt Holdings, Inc. (BKKT)

Role
General Counsel & Secretary
Signature
/s/ Marc D'Annunzio
Issuer symbol
BKKT
Transactions as of
24 Feb 2023
Net transactions value
$0
Form type
4
Filing time
28 Feb 2023, 20:53:16 UTC
Previous filing
14 Feb 2023
Next filing
02 Mar 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 Award $0 +140,992 +32% $0.000000 583,320 24 Feb 2023 Direct F1, F2
transaction BKKT Class A Common Stock Award $0 +50,000 +8.6% $0.000000 633,320 24 Feb 2023 Direct F3, F4

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
holding BKKT Bakkt Opco Units 1,304,712 24 Feb 2023 Class A Common Stock 1,304,712 Direct F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These securities are restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the issuer's Class A Common Stock. The RSUs shall vest in three equal annual installments on the first three anniversaries of February 13, 2023, provided that the reporting person continues to be employed by the issuer as of each vesting date.
F2 Includes 333,320 shares of Class A Common Stock subject to RSU awards that remain subject to vesting.
F3 These securities are RSUs. Each RSU represents a contingent right to receive one share of the issuer's Class A Common Stock. The RSUs shall vest in two equal annual installments on the first two anniversaries of February 13, 2023, provided that the reporting person continues to be employed by the issuer as of each vesting date.
F4 Includes 383,320 shares of Class A Common Stock subject to RSU awards that remain subject to vesting.
F5 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.
F6 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.