Marc D'Annunzio - Feb 19, 2025 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 19, 2025
Transactions value $
-$15,226
Form type
4
Date filed
2/21/2025, 05:36 PM
Previous filing
Feb 18, 2025

Transactions Table

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 48.2K Feb 19, 2025 Class A Common Stock 48.2K Direct F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 In connection with the vesting of performance stock units ("PSUs") on February 13, 2025, the issuer withheld Class A Common Stock that would otherwise have been issued to the reporting person to satisfy such person's tax withholding obligations. The number of shares withheld was determined based on the closing price per share of Class A Common Stock on February 13, 2025.
F2 Includes 32,398 shares of Class A Common Stock subject to restricted stock units ("RSUs") and PSUs that remain subject to vesting.
F3 In connection with the vesting of RSUs on February 13, 2025, the issuer withheld Class A Common Stock that would otherwise have been issued to the reporting person to satisfy such person's tax withholding obligations. The number of shares withheld was determined based on the closing price per share of Class A Common Stock on February 13, 2025.
F4 Includes 29,537 shares of Class A Common Stock subject to RSUs and PSUs 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.