Collins Sean Roberts

SEC source: 0001871559-25-000010 · primary_doc.xml · nonDerivative · entry 1

Collins Sean Roberts · CIK 0001873512 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 63,431

F1 · shares: These securities are restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the issuer's Class A Common Stock. 100% of the RSUs shall vest on June 17, 2026, provided that the reporting person continues to provide service to the issuer through such date.

F1 · price: These securities are restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the issuer's Class A Common Stock. 100% of the RSUs shall vest on June 17, 2026, provided that the reporting person continues to provide service to the issuer through such date.

F2 · balance_after: Includes 30,191 shares of Class A Common Stock subject to RSUs that remain subject to vesting.

SEC source: 0001873512-24-000001 · primary_doc.xml · nonDerivative · entry 1

Collins Sean Roberts · CIK 0001873512 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 33,237

F1 · shares: These securities are Restricted Stock Units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's Class A Common Stock. 100% of the RSUs shall vest on the date of the Issuer's next annual meeting of stockholders, provided that the Reporting Person continues to provide service to the Issuer through such date.

F1 · price: These securities are Restricted Stock Units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's Class A Common Stock. 100% of the RSUs shall vest on the date of the Issuer's next annual meeting of stockholders, provided that the Reporting Person continues to provide service to the Issuer through such date.

F2 · balance_after: Includes 21,875 shares of Class A Common Stock subject to RSUs that remain subject to vesting.

SEC source: 0001209191-23-058180 · doc4.xml · nonDerivative · entry 17

Collins Sean Roberts · CIK 0001873512 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 0

F3 · ownership.nature: The general partner of each of Goldfinch Co-Invest I, LP, Goldfinch Co-Invest IB, LP and Goldfinch Co-Invest IC, LP is Goldfinch Co-Invest I GP LLC (collectively, the "Goldfinch Funds"). The Reporting Person is a Managing Partner of Goldfinch Co-Invest I GP LLC (together with the Goldfinch Funds, the "Goldfinch Entities"). The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein.

F7 · ownership.nature: Represents securities held directly by Goldfinch Co-Invest IC LP.

SEC source: 0001209191-23-058180 · doc4.xml · nonDerivative · entry 16

Collins Sean Roberts · CIK 0001873512 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 0

F3 · ownership.nature: The general partner of each of Goldfinch Co-Invest I, LP, Goldfinch Co-Invest IB, LP and Goldfinch Co-Invest IC, LP is Goldfinch Co-Invest I GP LLC (collectively, the "Goldfinch Funds"). The Reporting Person is a Managing Partner of Goldfinch Co-Invest I GP LLC (together with the Goldfinch Funds, the "Goldfinch Entities"). The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein.

F5 · ownership.nature: Represents securities held directly by Goldfinch Co-Invest IB LP.

SEC source: 0001209191-23-058180 · doc4.xml · nonDerivative · entry 15

Collins Sean Roberts · CIK 0001873512 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 285,090

F9 · kind: Represents shares of the Issuer's Class A Common Stock received by the reporting person in distributions from the Goldfinch Entities, each of which was exempt under Rule 16a-9(a) and Rule 16a-13 of the Securities Exchange Act of 1934, as amended.

F10 · balance_after: Includes 275,000 shares of Class A Common Stock subject to Restricted Stock Units that remain subject to vesting.

SEC source: 0001209191-23-058180 · doc4.xml · nonDerivative · entry 14

Collins Sean Roberts · CIK 0001873512 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 31

F6 · kind: Represents a pro-rata in kind distribution of shares of the Issuer's Class A Common Stock by Goldfinch Co-Invest IC LP to its partners. Such distribution was exempt under Rule 16a-9(a) and Rule 16a-13 of the Securities Exchange Act of 1934, as amended.

F3 · ownership.nature: The general partner of each of Goldfinch Co-Invest I, LP, Goldfinch Co-Invest IB, LP and Goldfinch Co-Invest IC, LP is Goldfinch Co-Invest I GP LLC (collectively, the "Goldfinch Funds"). The Reporting Person is a Managing Partner of Goldfinch Co-Invest I GP LLC (together with the Goldfinch Funds, the "Goldfinch Entities"). The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein.

F7 · ownership.nature: Represents securities held directly by Goldfinch Co-Invest IC LP.

SEC source: 0001209191-23-058180 · doc4.xml · nonDerivative · entry 13

Collins Sean Roberts · CIK 0001873512 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 20

F4 · kind: Represents a pro-rata in kind distribution of shares of the Issuer's Class A Common Stock by Goldfinch Co-Invest IB LP to its partners. Such distribution was exempt under Rule 16a-9(a) and Rule 16a-13 of the Securities Exchange Act of 1934, as amended.

F3 · ownership.nature: The general partner of each of Goldfinch Co-Invest I, LP, Goldfinch Co-Invest IB, LP and Goldfinch Co-Invest IC, LP is Goldfinch Co-Invest I GP LLC (collectively, the "Goldfinch Funds"). The Reporting Person is a Managing Partner of Goldfinch Co-Invest I GP LLC (together with the Goldfinch Funds, the "Goldfinch Entities"). The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein.

F5 · ownership.nature: Represents securities held directly by Goldfinch Co-Invest IB LP.

SEC source: 0001209191-23-058180 · doc4.xml · nonDerivative · entry 12

Collins Sean Roberts · CIK 0001873512 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 0

F1 · kind: Represents a pro-rata in kind distribution of shares of the Issuer's Class A Common Stock by Goldfinch Co-Invest I LP to its partners. Such distribution was exempt under Rule 16a-9(a) and Rule 16a-13 of the Securities Exchange Act of 1934, as amended.

F2 · ownership.nature: Represents securities held directly by Goldfinch Co-Invest I LP.

F3 · ownership.nature: The general partner of each of Goldfinch Co-Invest I, LP, Goldfinch Co-Invest IB, LP and Goldfinch Co-Invest IC, LP is Goldfinch Co-Invest I GP LLC (collectively, the "Goldfinch Funds"). The Reporting Person is a Managing Partner of Goldfinch Co-Invest I GP LLC (together with the Goldfinch Funds, the "Goldfinch Entities"). The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein.

SEC source: 0001209191-23-058180 · doc4.xml · nonDerivative · entry 11

Collins Sean Roberts · CIK 0001873512 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 275,960

F12 · price: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.705 to $1.765, inclusive. The reporting person undertakes to provide Bakkt Holdings, Inc., any security holder of Bakkt Holdings, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F10 · balance_after: Includes 275,000 shares of Class A Common Stock subject to Restricted Stock Units that remain subject to vesting.

SEC source: 0001209191-23-058180 · doc4.xml · nonDerivative · entry 10

Collins Sean Roberts · CIK 0001873512 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 49,283

F12 · price: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.705 to $1.765, inclusive. The reporting person undertakes to provide Bakkt Holdings, Inc., any security holder of Bakkt Holdings, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The general partner of each of Goldfinch Co-Invest I, LP, Goldfinch Co-Invest IB, LP and Goldfinch Co-Invest IC, LP is Goldfinch Co-Invest I GP LLC (collectively, the "Goldfinch Funds"). The Reporting Person is a Managing Partner of Goldfinch Co-Invest I GP LLC (together with the Goldfinch Funds, the "Goldfinch Entities"). The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein.

F7 · ownership.nature: Represents securities held directly by Goldfinch Co-Invest IC LP.

SEC source: 0001209191-23-058180 · doc4.xml · nonDerivative · entry 9

Collins Sean Roberts · CIK 0001873512 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 4,636

F12 · price: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.705 to $1.765, inclusive. The reporting person undertakes to provide Bakkt Holdings, Inc., any security holder of Bakkt Holdings, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The general partner of each of Goldfinch Co-Invest I, LP, Goldfinch Co-Invest IB, LP and Goldfinch Co-Invest IC, LP is Goldfinch Co-Invest I GP LLC (collectively, the "Goldfinch Funds"). The Reporting Person is a Managing Partner of Goldfinch Co-Invest I GP LLC (together with the Goldfinch Funds, the "Goldfinch Entities"). The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein.

F5 · ownership.nature: Represents securities held directly by Goldfinch Co-Invest IB LP.

SEC source: 0001209191-23-058180 · doc4.xml · nonDerivative · entry 8

Collins Sean Roberts · CIK 0001873512 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 322,461

F11 · price: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.76 to $1.86, inclusive. The reporting person undertakes to provide Bakkt Holdings, Inc., any security holder of Bakkt Holdings, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F10 · balance_after: Includes 275,000 shares of Class A Common Stock subject to Restricted Stock Units that remain subject to vesting.

SEC source: 0001209191-23-058180 · doc4.xml · nonDerivative · entry 7

Collins Sean Roberts · CIK 0001873512 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 505,107

F9 · kind: Represents shares of the Issuer's Class A Common Stock received by the reporting person in distributions from the Goldfinch Entities, each of which was exempt under Rule 16a-9(a) and Rule 16a-13 of the Securities Exchange Act of 1934, as amended.

F10 · balance_after: Includes 275,000 shares of Class A Common Stock subject to Restricted Stock Units that remain subject to vesting.

SEC source: 0001209191-23-058180 · doc4.xml · nonDerivative · entry 6

Collins Sean Roberts · CIK 0001873512 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 86,273

F8 · price: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.78 to $1.89, inclusive. The reporting person undertakes to provide Bakkt Holdings, Inc., any security holder of Bakkt Holdings, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The general partner of each of Goldfinch Co-Invest I, LP, Goldfinch Co-Invest IB, LP and Goldfinch Co-Invest IC, LP is Goldfinch Co-Invest I GP LLC (collectively, the "Goldfinch Funds"). The Reporting Person is a Managing Partner of Goldfinch Co-Invest I GP LLC (together with the Goldfinch Funds, the "Goldfinch Entities"). The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein.

F7 · ownership.nature: Represents securities held directly by Goldfinch Co-Invest IC LP.

SEC source: 0001209191-23-058180 · doc4.xml · nonDerivative · entry 5

Collins Sean Roberts · CIK 0001873512 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 28,575

F8 · price: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.78 to $1.89, inclusive. The reporting person undertakes to provide Bakkt Holdings, Inc., any security holder of Bakkt Holdings, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The general partner of each of Goldfinch Co-Invest I, LP, Goldfinch Co-Invest IB, LP and Goldfinch Co-Invest IC, LP is Goldfinch Co-Invest I GP LLC (collectively, the "Goldfinch Funds"). The Reporting Person is a Managing Partner of Goldfinch Co-Invest I GP LLC (together with the Goldfinch Funds, the "Goldfinch Entities"). The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein.

F5 · ownership.nature: Represents securities held directly by Goldfinch Co-Invest IB LP.

SEC source: 0001209191-23-058180 · doc4.xml · nonDerivative · entry 4

Collins Sean Roberts · CIK 0001873512 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 412,211

F8 · price: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.78 to $1.89, inclusive. The reporting person undertakes to provide Bakkt Holdings, Inc., any security holder of Bakkt Holdings, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F2 · ownership.nature: Represents securities held directly by Goldfinch Co-Invest I LP.

F3 · ownership.nature: The general partner of each of Goldfinch Co-Invest I, LP, Goldfinch Co-Invest IB, LP and Goldfinch Co-Invest IC, LP is Goldfinch Co-Invest I GP LLC (collectively, the "Goldfinch Funds"). The Reporting Person is a Managing Partner of Goldfinch Co-Invest I GP LLC (together with the Goldfinch Funds, the "Goldfinch Entities"). The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein.

SEC source: 0001209191-23-058180 · doc4.xml · nonDerivative · entry 3

Collins Sean Roberts · CIK 0001873512 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 133,934

F6 · kind: Represents a pro-rata in kind distribution of shares of the Issuer's Class A Common Stock by Goldfinch Co-Invest IC LP to its partners. Such distribution was exempt under Rule 16a-9(a) and Rule 16a-13 of the Securities Exchange Act of 1934, as amended.

F3 · ownership.nature: The general partner of each of Goldfinch Co-Invest I, LP, Goldfinch Co-Invest IB, LP and Goldfinch Co-Invest IC, LP is Goldfinch Co-Invest I GP LLC (collectively, the "Goldfinch Funds"). The Reporting Person is a Managing Partner of Goldfinch Co-Invest I GP LLC (together with the Goldfinch Funds, the "Goldfinch Entities"). The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein.

F7 · ownership.nature: Represents securities held directly by Goldfinch Co-Invest IC LP.

SEC source: 0001209191-23-058180 · doc4.xml · nonDerivative · entry 2

Collins Sean Roberts · CIK 0001873512 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 41,357

F4 · kind: Represents a pro-rata in kind distribution of shares of the Issuer's Class A Common Stock by Goldfinch Co-Invest IB LP to its partners. Such distribution was exempt under Rule 16a-9(a) and Rule 16a-13 of the Securities Exchange Act of 1934, as amended.

F3 · ownership.nature: The general partner of each of Goldfinch Co-Invest I, LP, Goldfinch Co-Invest IB, LP and Goldfinch Co-Invest IC, LP is Goldfinch Co-Invest I GP LLC (collectively, the "Goldfinch Funds"). The Reporting Person is a Managing Partner of Goldfinch Co-Invest I GP LLC (together with the Goldfinch Funds, the "Goldfinch Entities"). The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein.

F5 · ownership.nature: Represents securities held directly by Goldfinch Co-Invest IB LP.

SEC source: 0001209191-23-058180 · doc4.xml · nonDerivative · entry 1

Collins Sean Roberts · CIK 0001873512 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 637,447

F1 · kind: Represents a pro-rata in kind distribution of shares of the Issuer's Class A Common Stock by Goldfinch Co-Invest I LP to its partners. Such distribution was exempt under Rule 16a-9(a) and Rule 16a-13 of the Securities Exchange Act of 1934, as amended.

F2 · ownership.nature: Represents securities held directly by Goldfinch Co-Invest I LP.

F3 · ownership.nature: The general partner of each of Goldfinch Co-Invest I, LP, Goldfinch Co-Invest IB, LP and Goldfinch Co-Invest IC, LP is Goldfinch Co-Invest I GP LLC (collectively, the "Goldfinch Funds"). The Reporting Person is a Managing Partner of Goldfinch Co-Invest I GP LLC (together with the Goldfinch Funds, the "Goldfinch Entities"). The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein.

SEC source: 0001209191-23-055762 · doc4.xml · derivative · entry 6

Collins Sean Roberts · CIK 0001873512 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 0

Underlying: Class A Common Stock · 156,167 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F6 · derivative.exercise_price: Common units of Bakkt Opco Holdings, LLC ("Bakkt Opco Units") and an equal number of shares of the Issuer's Class V Common Stock are, subject to certain limitations, exchangeable from time to time at the holder's option into shares of the Issuer's Class A Common Stock on a one-for-one basis (or, at the Issuer's option, for cash).

F6 · derivative.exercise_date: Common units of Bakkt Opco Holdings, LLC ("Bakkt Opco Units") and an equal number of shares of the Issuer's Class V Common Stock are, subject to certain limitations, exchangeable from time to time at the holder's option into shares of the Issuer's Class A Common Stock on a one-for-one basis (or, at the Issuer's option, for cash).

F6 · derivative.expiration_date: Common units of Bakkt Opco Holdings, LLC ("Bakkt Opco Units") and an equal number of shares of the Issuer's Class V Common Stock are, subject to certain limitations, exchangeable from time to time at the holder's option into shares of the Issuer's Class A Common Stock on a one-for-one basis (or, at the Issuer's option, for cash).

F2 · ownership.nature: The general partner of each of Goldfinch Co-Invest I LP, Goldfinch Co-Invest IB LP and Goldfinch Co-Invest IC LP is Goldfinch Co-Invest I GP LLC. The Reporting Person is a Managing Partner of Goldfinch Co-Invest I GP LLC. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein.

F3 · ownership.nature: Represents securities held directly by Goldfinch Co-Invest IB LP.

SEC source: 0001209191-23-055762 · doc4.xml · derivative · entry 5

Collins Sean Roberts · CIK 0001873512 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 0

Underlying: Class A Common Stock · 2,751,943 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F6 · derivative.exercise_price: Common units of Bakkt Opco Holdings, LLC ("Bakkt Opco Units") and an equal number of shares of the Issuer's Class V Common Stock are, subject to certain limitations, exchangeable from time to time at the holder's option into shares of the Issuer's Class A Common Stock on a one-for-one basis (or, at the Issuer's option, for cash).

F6 · derivative.exercise_date: Common units of Bakkt Opco Holdings, LLC ("Bakkt Opco Units") and an equal number of shares of the Issuer's Class V Common Stock are, subject to certain limitations, exchangeable from time to time at the holder's option into shares of the Issuer's Class A Common Stock on a one-for-one basis (or, at the Issuer's option, for cash).

F6 · derivative.expiration_date: Common units of Bakkt Opco Holdings, LLC ("Bakkt Opco Units") and an equal number of shares of the Issuer's Class V Common Stock are, subject to certain limitations, exchangeable from time to time at the holder's option into shares of the Issuer's Class A Common Stock on a one-for-one basis (or, at the Issuer's option, for cash).

F1 · ownership.nature: Represents securities held directly by Goldfinch Co-Invest I LP.

F2 · ownership.nature: The general partner of each of Goldfinch Co-Invest I LP, Goldfinch Co-Invest IB LP and Goldfinch Co-Invest IC LP is Goldfinch Co-Invest I GP LLC. The Reporting Person is a Managing Partner of Goldfinch Co-Invest I GP LLC. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein.

SEC source: 0001209191-23-055762 · doc4.xml · nonDerivative · entry 2

Collins Sean Roberts · CIK 0001873512 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 156,167

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · ownership.nature: The general partner of each of Goldfinch Co-Invest I LP, Goldfinch Co-Invest IB LP and Goldfinch Co-Invest IC LP is Goldfinch Co-Invest I GP LLC. The Reporting Person is a Managing Partner of Goldfinch Co-Invest I GP LLC. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein.

F3 · ownership.nature: Represents securities held directly by Goldfinch Co-Invest IB LP.

SEC source: 0001209191-23-055762 · doc4.xml · nonDerivative · entry 1

Collins Sean Roberts · CIK 0001873512 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,751,943

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · ownership.nature: Represents securities held directly by Goldfinch Co-Invest I LP.

F2 · ownership.nature: The general partner of each of Goldfinch Co-Invest I LP, Goldfinch Co-Invest IB LP and Goldfinch Co-Invest IC LP is Goldfinch Co-Invest I GP LLC. The Reporting Person is a Managing Partner of Goldfinch Co-Invest I GP LLC. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein.

SEC source: 0001873512-23-000002 · primary_doc.xml · nonDerivative · entry 1

Collins Sean Roberts · CIK 0001873512 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 457,646

F1 · shares: These securities are Restricted Stock Units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's Class A Common Stock. 100% of the RSUs shall vest on the date of the Issuer's next annual meeting of stockholders, provided that the Reporting Person continues to provide service to the Issuer through such date.

F2 · balance_after: Includes 275,000 shares of Class A Common Stock subject to RSUs that remain subject to vesting.

SEC source: 0001209191-22-037607 · doc4.xml · nonDerivative · entry 1

Collins Sean Roberts · CIK 0001873512 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 182,646

F1 · shares: These securities are Restricted Stock Units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's Class A Common Stock. 100% of the RSUs shall vest on June 14, 2023, provided that the Reporting Person continues to provide service to the Issuer through such date.

F2 · balance_after: Includes 172,646 shares of Class A Common Stock subject to RSUs that remain subject to vesting.

SEC source: 0001209191-21-071140 · doc4.xml · nonDerivative · entry 1

Collins Sean Roberts · CIK 0001873512 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,000

F1 · shares: These securities are Restricted Stock Units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's Class A Common Stock. The RSUs shall vest in full on the date of the next annual meeting of the Issuer's stockholders if the Reporting Person has served continuously as a member of the Issuer's board of directors through such date.

SEC source: 0001209191-21-060594 · doc4.xml · derivative · entry 3

Collins Sean Roberts · CIK 0001873512 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 156,167

Underlying: Class A Common Stock · 156,167 shares

Expires not disclosed

F3 · security: Acquired pursuant to the terms of the Agreement and Plan of Merger dated as of January 11, 2021 (as amended, the "Merger Agreement") by and among the Issuer, Pylon Merger Company LLC ("Merger Sub") and Bakkt Opco Holdings, LLC ("Bakkt Opco"), pursuant to which Merger Sub merged (the "Merger") with and into Bakkt Opco with Bakkt Opco continuing as the surviving entity and a subsidiary of the Issuer. Pursuant to the terms of the Merger Agreement, the owners of Bakkt Opco common units as of immediately prior to the closing of the Merger (the "Closing") received at the Closing, as consideration for the Merger, paired interests ("Paired Interests"), each consisting of one unit of Bakkt Opco (a "Bakkt Opco Unit") and one share of Class V common stock of the Issuer ("Class V Common Stock").

F4 · security: The Bakkt Opco Units represent non-voting limited liability company interests of Bakkt Opco. The shares of Class V Common Stock are non-economic, voting shares of the Issuer, which entitle the holder thereof to one vote for each share of Class V Common Stock held of record by such holder on all matters on which holders of Class V Common Stock as a separate class are entitled to vote, and together with holders of Class A Common Stock as a single class on all matters submitted to a vote of the Issuer's stockholders having voting rights generally.

F5 · derivative.exercise_price: Pursuant to the terms of an exchange agreement (the "Exchange Agreement"), beginning on the six-month anniversary of the Closing, holders of Paired Interests may exchange such Paired Interests for shares of Class A Common Stock on a one-for-one basis (subject to adjustment as set forth in the Exchange Agreement) or, at the Issuer's option, for cash. These exchange rights do not expire.

F3 · kind: Acquired pursuant to the terms of the Agreement and Plan of Merger dated as of January 11, 2021 (as amended, the "Merger Agreement") by and among the Issuer, Pylon Merger Company LLC ("Merger Sub") and Bakkt Opco Holdings, LLC ("Bakkt Opco"), pursuant to which Merger Sub merged (the "Merger") with and into Bakkt Opco with Bakkt Opco continuing as the surviving entity and a subsidiary of the Issuer. Pursuant to the terms of the Merger Agreement, the owners of Bakkt Opco common units as of immediately prior to the closing of the Merger (the "Closing") received at the Closing, as consideration for the Merger, paired interests ("Paired Interests"), each consisting of one unit of Bakkt Opco (a "Bakkt Opco Unit") and one share of Class V common stock of the Issuer ("Class V Common Stock").

F3 · price: Acquired pursuant to the terms of the Agreement and Plan of Merger dated as of January 11, 2021 (as amended, the "Merger Agreement") by and among the Issuer, Pylon Merger Company LLC ("Merger Sub") and Bakkt Opco Holdings, LLC ("Bakkt Opco"), pursuant to which Merger Sub merged (the "Merger") with and into Bakkt Opco with Bakkt Opco continuing as the surviving entity and a subsidiary of the Issuer. Pursuant to the terms of the Merger Agreement, the owners of Bakkt Opco common units as of immediately prior to the closing of the Merger (the "Closing") received at the Closing, as consideration for the Merger, paired interests ("Paired Interests"), each consisting of one unit of Bakkt Opco (a "Bakkt Opco Unit") and one share of Class V common stock of the Issuer ("Class V Common Stock").

F5 · derivative.exercise_date: Pursuant to the terms of an exchange agreement (the "Exchange Agreement"), beginning on the six-month anniversary of the Closing, holders of Paired Interests may exchange such Paired Interests for shares of Class A Common Stock on a one-for-one basis (subject to adjustment as set forth in the Exchange Agreement) or, at the Issuer's option, for cash. These exchange rights do not expire.

F5 · derivative.expiration_date: Pursuant to the terms of an exchange agreement (the "Exchange Agreement"), beginning on the six-month anniversary of the Closing, holders of Paired Interests may exchange such Paired Interests for shares of Class A Common Stock on a one-for-one basis (subject to adjustment as set forth in the Exchange Agreement) or, at the Issuer's option, for cash. These exchange rights do not expire.

F4 · derivative.underlying_shares: The Bakkt Opco Units represent non-voting limited liability company interests of Bakkt Opco. The shares of Class V Common Stock are non-economic, voting shares of the Issuer, which entitle the holder thereof to one vote for each share of Class V Common Stock held of record by such holder on all matters on which holders of Class V Common Stock as a separate class are entitled to vote, and together with holders of Class A Common Stock as a single class on all matters submitted to a vote of the Issuer's stockholders having voting rights generally.

F5 · derivative.underlying_shares: Pursuant to the terms of an exchange agreement (the "Exchange Agreement"), beginning on the six-month anniversary of the Closing, holders of Paired Interests may exchange such Paired Interests for shares of Class A Common Stock on a one-for-one basis (subject to adjustment as set forth in the Exchange Agreement) or, at the Issuer's option, for cash. These exchange rights do not expire.

F4 · balance_after: The Bakkt Opco Units represent non-voting limited liability company interests of Bakkt Opco. The shares of Class V Common Stock are non-economic, voting shares of the Issuer, which entitle the holder thereof to one vote for each share of Class V Common Stock held of record by such holder on all matters on which holders of Class V Common Stock as a separate class are entitled to vote, and together with holders of Class A Common Stock as a single class on all matters submitted to a vote of the Issuer's stockholders having voting rights generally.

F5 · balance_after: Pursuant to the terms of an exchange agreement (the "Exchange Agreement"), beginning on the six-month anniversary of the Closing, holders of Paired Interests may exchange such Paired Interests for shares of Class A Common Stock on a one-for-one basis (subject to adjustment as set forth in the Exchange Agreement) or, at the Issuer's option, for cash. These exchange rights do not expire.

F2 · ownership.nature: The general partner of each of Goldfinch Co-Invest I, LP, Goldfinch Co-Invest IB, LP and Goldfinch Co-Invest IC LP is Goldfinch Co-Invest I GP LLC. The Reporting Person is a Managing Partner of Goldfinch Co-Invest I GP LLC. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein.

F7 · ownership.nature: Represents securities held directly by Goldfinch Co-Invest IB LP.

SEC source: 0001209191-21-060594 · doc4.xml · derivative · entry 2

Collins Sean Roberts · CIK 0001873512 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 2,751,943

Underlying: Class A Common Stock · 2,751,943 shares

Expires not disclosed

F3 · security: Acquired pursuant to the terms of the Agreement and Plan of Merger dated as of January 11, 2021 (as amended, the "Merger Agreement") by and among the Issuer, Pylon Merger Company LLC ("Merger Sub") and Bakkt Opco Holdings, LLC ("Bakkt Opco"), pursuant to which Merger Sub merged (the "Merger") with and into Bakkt Opco with Bakkt Opco continuing as the surviving entity and a subsidiary of the Issuer. Pursuant to the terms of the Merger Agreement, the owners of Bakkt Opco common units as of immediately prior to the closing of the Merger (the "Closing") received at the Closing, as consideration for the Merger, paired interests ("Paired Interests"), each consisting of one unit of Bakkt Opco (a "Bakkt Opco Unit") and one share of Class V common stock of the Issuer ("Class V Common Stock").

F4 · security: The Bakkt Opco Units represent non-voting limited liability company interests of Bakkt Opco. The shares of Class V Common Stock are non-economic, voting shares of the Issuer, which entitle the holder thereof to one vote for each share of Class V Common Stock held of record by such holder on all matters on which holders of Class V Common Stock as a separate class are entitled to vote, and together with holders of Class A Common Stock as a single class on all matters submitted to a vote of the Issuer's stockholders having voting rights generally.

F5 · derivative.exercise_price: Pursuant to the terms of an exchange agreement (the "Exchange Agreement"), beginning on the six-month anniversary of the Closing, holders of Paired Interests may exchange such Paired Interests for shares of Class A Common Stock on a one-for-one basis (subject to adjustment as set forth in the Exchange Agreement) or, at the Issuer's option, for cash. These exchange rights do not expire.

F3 · kind: Acquired pursuant to the terms of the Agreement and Plan of Merger dated as of January 11, 2021 (as amended, the "Merger Agreement") by and among the Issuer, Pylon Merger Company LLC ("Merger Sub") and Bakkt Opco Holdings, LLC ("Bakkt Opco"), pursuant to which Merger Sub merged (the "Merger") with and into Bakkt Opco with Bakkt Opco continuing as the surviving entity and a subsidiary of the Issuer. Pursuant to the terms of the Merger Agreement, the owners of Bakkt Opco common units as of immediately prior to the closing of the Merger (the "Closing") received at the Closing, as consideration for the Merger, paired interests ("Paired Interests"), each consisting of one unit of Bakkt Opco (a "Bakkt Opco Unit") and one share of Class V common stock of the Issuer ("Class V Common Stock").

F3 · price: Acquired pursuant to the terms of the Agreement and Plan of Merger dated as of January 11, 2021 (as amended, the "Merger Agreement") by and among the Issuer, Pylon Merger Company LLC ("Merger Sub") and Bakkt Opco Holdings, LLC ("Bakkt Opco"), pursuant to which Merger Sub merged (the "Merger") with and into Bakkt Opco with Bakkt Opco continuing as the surviving entity and a subsidiary of the Issuer. Pursuant to the terms of the Merger Agreement, the owners of Bakkt Opco common units as of immediately prior to the closing of the Merger (the "Closing") received at the Closing, as consideration for the Merger, paired interests ("Paired Interests"), each consisting of one unit of Bakkt Opco (a "Bakkt Opco Unit") and one share of Class V common stock of the Issuer ("Class V Common Stock").

F5 · derivative.exercise_date: Pursuant to the terms of an exchange agreement (the "Exchange Agreement"), beginning on the six-month anniversary of the Closing, holders of Paired Interests may exchange such Paired Interests for shares of Class A Common Stock on a one-for-one basis (subject to adjustment as set forth in the Exchange Agreement) or, at the Issuer's option, for cash. These exchange rights do not expire.

F5 · derivative.expiration_date: Pursuant to the terms of an exchange agreement (the "Exchange Agreement"), beginning on the six-month anniversary of the Closing, holders of Paired Interests may exchange such Paired Interests for shares of Class A Common Stock on a one-for-one basis (subject to adjustment as set forth in the Exchange Agreement) or, at the Issuer's option, for cash. These exchange rights do not expire.

F4 · derivative.underlying_shares: The Bakkt Opco Units represent non-voting limited liability company interests of Bakkt Opco. The shares of Class V Common Stock are non-economic, voting shares of the Issuer, which entitle the holder thereof to one vote for each share of Class V Common Stock held of record by such holder on all matters on which holders of Class V Common Stock as a separate class are entitled to vote, and together with holders of Class A Common Stock as a single class on all matters submitted to a vote of the Issuer's stockholders having voting rights generally.

F5 · derivative.underlying_shares: Pursuant to the terms of an exchange agreement (the "Exchange Agreement"), beginning on the six-month anniversary of the Closing, holders of Paired Interests may exchange such Paired Interests for shares of Class A Common Stock on a one-for-one basis (subject to adjustment as set forth in the Exchange Agreement) or, at the Issuer's option, for cash. These exchange rights do not expire.

F4 · balance_after: The Bakkt Opco Units represent non-voting limited liability company interests of Bakkt Opco. The shares of Class V Common Stock are non-economic, voting shares of the Issuer, which entitle the holder thereof to one vote for each share of Class V Common Stock held of record by such holder on all matters on which holders of Class V Common Stock as a separate class are entitled to vote, and together with holders of Class A Common Stock as a single class on all matters submitted to a vote of the Issuer's stockholders having voting rights generally.

F5 · balance_after: Pursuant to the terms of an exchange agreement (the "Exchange Agreement"), beginning on the six-month anniversary of the Closing, holders of Paired Interests may exchange such Paired Interests for shares of Class A Common Stock on a one-for-one basis (subject to adjustment as set forth in the Exchange Agreement) or, at the Issuer's option, for cash. These exchange rights do not expire.

F2 · ownership.nature: The general partner of each of Goldfinch Co-Invest I, LP, Goldfinch Co-Invest IB, LP and Goldfinch Co-Invest IC LP is Goldfinch Co-Invest I GP LLC. The Reporting Person is a Managing Partner of Goldfinch Co-Invest I GP LLC. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein.

F6 · ownership.nature: Represents securities held directly by Goldfinch Co-Invest I LP.

SEC source: 0001209191-21-060594 · doc4.xml · nonDerivative · entry 1

Collins Sean Roberts · CIK 0001873512 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 582,323

F1 · shares: Represents 582,323 shares of Class A common stock (the "Class A Common Stock") of Bakkt Holdings, Inc. (the "Issuer") held directly by Goldfinch Co-Invest IC LP ("Goldfinch IC") acquired from the Issuer in connection with the completion of the business combination described in the Merger Agreement (as defined in footnote 3 below).

F2 · ownership.nature: The general partner of each of Goldfinch Co-Invest I, LP, Goldfinch Co-Invest IB, LP and Goldfinch Co-Invest IC LP is Goldfinch Co-Invest I GP LLC. The Reporting Person is a Managing Partner of Goldfinch Co-Invest I GP LLC. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein.