Bakkt Holdings, Inc. — Director's Dealing 2021

Nov 19, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Bakkt Holdings, Inc. (BKKT)
CIK: 0001820302
Period of Report: 2021-11-17

Reporting Person: VPC Impact Acquisition Holdings Sponsor, LLC (Director, 10% Owner)
Reporting Person: Levy Richard N (Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-11-17	Class A common stock, par value $0.0001 per share	X	3967362	—	Acquired	9091662	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-11-17	Private Placement Warrants	$11.50	X	6147440	Disposed		Class A Common Stock (3967362)	Direct

Footnotes

F1: VPC Impact Acquisition Holdings Sponsor, LLC ("VIH Sponsor") exercised the Private Placement Warrants on a "cashless" basis pursuant to the warrant agreement governing such Private Placement Warrants.

F2: The Private Placement Warrants were acquired from the Issuer in connection with its initial public offering and became exercisable beginning 30 days after the closing (the "Closing") of the business combination between the Issuer (which was formerly known as VPC Impact Acquisition Holdings or "VIH") and Bakkt Holdings, LLC ("Bakkt"), expiring five years after Closing. Each Private Placement Warrant was exercisable for one share of Class A common stock at an exercise price of $11.50 per share, subject to certain adjustments.

F3: VIH Sponsor is the record holder of the securities reported herein. Richard N. Levy, as Chief Executive Officer and Founder of Victory Park Capital Advisors, LLC, has voting and investment discretion with respect to the securities held of record by VIH Sponsor. Mr. Levy disclaims any beneficial ownership of the securities held by VIH Sponsor other than to the extent of any pecuniary interest he may have therein, directly or indirectly.