| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | BKKT | Class A Common Stock | Tax liability | -$45.7K | -22.8K | -4.25% | $2.00 | 515K | Feb 3, 2023 | Direct | F1, F2 |
| transaction | BKKT | Class A Common Stock | Sale | -$73.8K | -43.2K | -8.39% | $1.71 | 471K | Feb 6, 2023 | Direct | F2, F3, F4 |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| holding | BKKT | Bakkt Opco Units | 1.3M | Feb 3, 2023 | Class A Common Stock | 1.3M | Direct | F5, F6 |
| Id | Content |
|---|---|
| F1 | In connection with the vesting of restricted stock units on January 21, 2023, 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 January 20, 2023. |
| F2 | Includes 471,491 shares of Class A Common Stock subject to restricted stock units that remain subject to vesting. |
| F3 | The sales were effectuated pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 12/05/2022. |
| F4 | Represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $1.65 to $1.76, inclusive. For all transactions reported in this Form 4 utilizing a weighted-average price, the reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range. |
| 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. |