November 3, 2025 · Form 4 insider transaction
Naheta Akshay Sudhir bought 69,733 shares of BKKT at $39.34 per share, a transaction worth $2.74M. The trade was recorded as grant or award and disclosed on an SEC Form 4, filed 1 day after the transaction.
On November 3, 2025, pursuant to a reorganization (the "Reorganization"), Bakkt Holdings, Inc. (formerly Bakkt NewCo Holdings, Inc.) became the successor of Bakkt Intermediate Holdings, Inc (formerly Bakkt Holdings, Inc.)("Bakkt") pursuant to merger transactions, in which a subsidiary of Bakkt Holdings, Inc. merged with and into Bakkt Intermediate Holdings, Inc. with Bakkt Intermediate Holdings, Inc. surviving and, immediately following such merger, a subsidiary of Bakkt Holdings, Inc. merged with and into Bakkt OpCo Holdings LLC ("OpCo"), a subsidiary of Bakkt Holdings Intermediate, Inc., with OpCo surviving. The mergers resulted in the Issuer becoming the parent holding company of Bakkt and OpCo, but did not alter the proportionate economic interest of security holders.; Pursuant to the TRA Amendment and the Contribution Agreement, as amended (both defined in the Form 8-K12B filed by the Issuer on November 3, 2025 (the "8-K")), the reporting person agreed that he would, at closing of the Reorganization, (i) contribute his rights under the TRA (defined in the 8-K) to the Issuer in exchange for a cash payment from the Issuer equal to the respective amount to which the reporting person would otherwise be entitled under the TRA and (ii) contribute such cash to the Issuer in exchange for shares of Class A Common Stock ("Shares"), and further agreed that the obligations of the reporting person, on the one hand, and the Issuer, on the other hand, to transfer the foregoing cash amounts will be net-settled and offset against one another.; Pursuant to the Contribution Agreement, as amended, the price at which the reporting person received Shares in exchange for his contribution was determined based on the "Minimum Price," as defined in NYSE Rule 312.04(h).; Includes 11,426 restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the issuer's Class A Common Stock. The RSUs will vest on March 21, 2026, subject to the reporting person's continued employment with the issuer as of the vesting date.