Intercontinental Exchange, Inc. - 03 Dec 2025 Form 4 Insider Report for Bakkt Holdings, Inc. (BKKT)

Reporting relationship: 10%+ Owner
Issuer ticker: BKKT
Reported as of: 03 Dec 2025
Net transaction value: $0
SEC form: 4
Accepted by SEC: 05 Dec 2025, 18:19:29 UTC
Prior SEC filing: 05 Dec 2025
Source filing: View source filing
Reporting owner signature: Intercontinental Exchange, Inc., By: /s/ Andrew Surdykowski, General Counsel

Key filing fact

Intercontinental Exchange, Inc. filed Form 4 for Bakkt Holdings, Inc. (BKKT) on 05 Dec 2025.

Key facts

This page summarizes Intercontinental Exchange, Inc.'s Form 4 filing for Bakkt Holdings, Inc. (BKKT).
2 reported transactions and 3 derivative rows are listed below.
Accepted by SEC: 05 Dec 2025, 18:19.

Change

Previous filing in this sequence was filed on 05 Dec 2025.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (2)

CIK 0001571949 Primary reporting owner

Intercontinental Exchange, Inc.

Relationship: 10%+ Owner
Address: 5660 NEW NORTHSIDE DRIVE, ATLANTA
Signature: Intercontinental Exchange, Inc., By: /s/ Andrew Surdykowski, General Counsel
Signature date: 05 Dec 2025

CIK 0001174746

Intercontinental Exchange Holdings, Inc.

Relationship: 10%+ Owner
Address: 5660 NEW NORTHSIDE DRIVE, ATLANTA
Signature: Intercontinental Exchange Holdings, Inc., By: /s/ Andrew Surdykowski, General Counsel
Signature date: 05 Dec 2025

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

BKKT transaction

Class A Common Stock

Conversion of derivative security

Transaction value
Shares: +465,890
Change %: +6.3%
Price
Shares after: 7,919,002
Date: 03 Dec 2025
Ownership: See footnote
Footnotes: F1, F2

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

BKKT transaction Derivative

Preferred Stock

Conversion of derivative security

Transaction value
Shares: -465,890
Change %: -100%
Price
Shares after: 0
Date: 03 Dec 2025
Ownership: See footnote
Underlying class: Class A Common Stock
Underlying amount: 465,890
Exercise price
Footnotes: F1, F2

BKKT holding Derivative

Class 1 Warrants (right to buy)

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 230,680
Date: 03 Dec 2025
Ownership: See footnote
Underlying class: Class A Common Stock
Underlying amount: 230,680
Exercise price: $25.50
Footnotes: F2

BKKT holding Derivative

Class 2 Warrants (right to buy)

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 230,680
Date: 03 Dec 2025
Ownership: See footnote
Underlying class: Class A Common Stock
Underlying amount: 230,680
Exercise price: $25.50
Footnotes: F2

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 2 footnotes

Footnote F1

In connection with the Issuer's November 3, 2025 reorganization, pursuant to the TRA Amendment and the Contribution Agreement, as amended (both as defined in the Form 8K12B filed by the Issuer on November 3, 2025), ICEH contributed its rights under the TRA (as defined in such Form 8K12B) to the Issuer in exchange for a cash payment from the Issuer equal to the amount which ICEH was otherwise entitled under the TRA and ICEH further contributed such cash to the Issuer in exchange for 465,890 shares of the Issuer's Series A Non-Voting Convertible Preferred Stock (the "Preferred Stock"). These shares of Preferred Stock automatically converted into shares of the Issuer's Class A Common Stock upon the early termination of the waiting period applicable to such conversion under the Hart-Scott-Rodin Antitrust Improvements Act of 1976, granted by the Federal Trade Commission on December 3, 2025.

Footnote F2

Intercontinental Exchange Holdings, Inc. ("ICEH") is the direct holder of the securities reflected in this Form 4. ICEH is a wholly owned subsidiary of Intercontinental Exchange, Inc.