{"transactions":[{"id":4629081,"issuer":{"id":5873,"kind":"organization","name":"Bakkt, Inc.","symbol":"BKKT"},"owners":[{"id":46538,"kind":"person","name":"Naheta Akshay Sudhir","position":1,"cik":"0002062543","reported_name":"Naheta Akshay Sudhir","relationship":{"director":false,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"Chief Executive Officer"}}],"security":"Class A Common Stock","published_at":"2026-10-02T21:34:22.000Z","date":"2026-09-30","kind":"grant","planned":false,"acquired":true,"shares":243454,"price":0,"value":0.0,"ownership":{"direct":true},"footnotes":[{"field":"shares","element":"transactionShares","label":"F1","text":"Represents 243,454 restricted stock units (\"RSUs\") granted to the Reporting Person on September 30, 2026, under the Company's 2021 Omnibus Employee Incentive Plan. The RSUs shall vest in equal annual installments through 2028, subject to the Reporting Person's continued employment with the Company.  Each RSU represents a contingent right to receive one share of the Company's Class A common stock."},{"field":"balance_after","element":"sharesOwnedFollowingTransaction","label":"F2","text":"Includes 803,856 Performance Stock Units that remain subject to certain vesting conditions."},{"field":"balance_after","element":"sharesOwnedFollowingTransaction","label":"F3","text":"Includes 243,454 Restricted Stock Units that remain subject to certain vesting conditions."}],"balance_after":9336976,"source":{"system":"sec-edgar","filing":"0001628280-26-064674","document":"wk-form4_1790976860.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2062543/000162828026064674/wk-form4_1790976860.xml","form_type":"4"}},{"id":775460,"issuer":{"id":5873,"kind":"organization","name":"Bakkt, Inc.","symbol":"BKKT"},"owners":[{"id":46538,"kind":"person","name":"Naheta Akshay Sudhir","position":1,"cik":"0002062543","reported_name":"Naheta Akshay Sudhir","relationship":{"director":false,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"Chief Executive Officer"}}],"security":"Stock Option (right to buy)","published_at":"2026-05-18T16:57:53.000Z","date":"2026-05-15","kind":"exercise","planned":false,"acquired":false,"shares":33557,"price":0,"value":0.0,"ownership":{"direct":true},"footnotes":[{"field":"derivative.expiration_date","element":"expirationDate","label":"F2","text":"Represent stock options to purchase shares of the Issuer's Class A Common Stock (\"Options\") granted on July 29, 2025. The Options are a commitment by the grantee to exercise a predetermined number of Options every quarter for eight quarters (the \"Committed Options\") at an exercise price per share equal to $10,00, which reflects the fair market value of a share of Class A Common Stock on the grant date. If the reporting person does not exercise the Committed Options in any quarter, then all remaining Options are forfeited. One-eighth of the Options will become exercisable each quarter (each, a \"Quarterly Tranche\"). The Committed Options are exercisable over a two-day period in the applicable quarter (the \"Exercise Period\"); provided that if the Exercise Period for a Quarterly Tranche occurs during a blackout period, then such Exercise Period shall instead be the next quarterly Exercise Period."}],"balance_after":1275168,"derivative":{"exercise_price":10,"exercise_date":"2026-05-15","underlying":"Class A Common Stock","underlying_shares":33557},"source":{"system":"sec-edgar","filing":"0002062543-26-000004","document":"wk-form4_1779137871.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/2062543/000206254326000004/wk-form4_1779137871.xml","form_type":"4"}},{"id":775459,"issuer":{"id":5873,"kind":"organization","name":"Bakkt, Inc.","symbol":"BKKT"},"owners":[{"id":46538,"kind":"person","name":"Naheta Akshay Sudhir","position":1,"cik":"0002062543","reported_name":"Naheta Akshay Sudhir","relationship":{"director":false,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"Chief Executive Officer"}}],"security":"Class A Common Stock","published_at":"2026-05-18T16:57:53.000Z","date":"2026-05-15","kind":"exercise","planned":false,"acquired":true,"shares":33557,"price":10,"value":335570.0,"ownership":{"direct":true},"footnotes":[{"field":"balance_after","element":"sharesOwnedFollowingTransaction","label":"F1","text":"Includes 803,861 Performance Stock Units that remain subject to certain vesting conditions"}],"balance_after":9093522,"source":{"system":"sec-edgar","filing":"0002062543-26-000004","document":"wk-form4_1779137871.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2062543/000206254326000004/wk-form4_1779137871.xml","form_type":"4"}},{"id":794205,"issuer":{"id":5873,"kind":"organization","name":"Bakkt, Inc.","symbol":"BKKT"},"owners":[{"id":46538,"kind":"person","name":"Naheta Akshay Sudhir","position":1,"cik":"0002062543","reported_name":"Naheta Akshay Sudhir","relationship":{"director":true,"officer":true,"ten_percent_owner":true,"other":false,"officer_title":"CEO and President"}}],"security":"Class A Common Stock","published_at":"2026-05-04T23:44:20.000Z","date":"2026-04-30","kind":"grant","planned":false,"acquired":true,"shares":7927831,"ownership":{"direct":true},"footnotes":[{"field":"shares","element":"transactionShares","label":"F1","text":"Represents shares of Class A Common Stock issued to the Reporting Person, as a stockholder of Distributed Technologies Research Global Ltd. (\"DTR\"), as acquisition consideration, upon the completion of the acquisition of DTR on April 30, 2026 (the \"Closing Date\") by the Issuer (the \"Consideration Shares\"), pursuant to the Issuer's Share Purchase Agreement (the \"Purchase Agreement\") dated January 11, 2026. Excluded from the shares reported herein are certain shares of Class A Common Stock held of record by the Reporting Person as nominee and custodian for certain former equity holders of DTR pursuant to certain agreements with such former equity holders of DTR, as to which the Reporting Person disclaims beneficial ownership."},{"field":"price","element":"transactionPricePerShare","label":"F2","text":"Issued to the Reporting Person on April 30, 2026 as consideration payable upon the acquisition of DTR pursuant to the Purchase Agreement."}],"balance_after":9026408,"source":{"system":"sec-edgar","filing":"0001193125-26-204624","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2062543/000119312526204624/ownership.xml","form_type":"4"}},{"id":996228,"issuer":{"id":5873,"kind":"organization","name":"Bakkt, Inc.","symbol":"BKKT"},"owners":[{"id":46538,"kind":"person","name":"Naheta Akshay Sudhir","position":1,"cik":"0002062543","reported_name":"Naheta Akshay Sudhir","relationship":{"director":true,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"CEO and President"}}],"security":"Performance Units","published_at":"2025-11-19T02:07:56.000Z","date":"2025-11-14","kind":"exercise","planned":false,"acquired":false,"shares":803861,"price":0,"value":0.0,"ownership":{"direct":true},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F3","text":"These securities are an inducement grant of PSUs. Each PSU represents a contingent right to receive one share of the issuer's Class A Common Stock."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F4","text":"The PSUs are eligible to vest over a three-year performance period following March 21, 2025 (the \"Vesting Commencement Date\") based on attainment of certain stock price metrics as provided below (the \"Performance Period\"). A total of 535,909 of the total PSUs will vest, subject to the reporting person's continued employment with the issuer through such vesting date, if the issuer's stock price (measured based on a rolling 90-day volume-weighted average price \"VWAP\") appreciates at any point during the Performance Period by 100% above $9.33 per share (the \"Reference Price\"). [Continued to footnote 5]"},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F5","text":"[Continued from footnote 4] For each additional 25% of stock price appreciation (measured based on a rolling 90-day VWAP) above the Reference Price during the Performance Period, limited to a maximum of eight (8) additional vesting tranches, an additional 133,976 PSUs could vest, subject to the reporting person's continued employment with the issuer through such vesting date. 803,861 of these PSUs vested on November 14, 2025. No PSUs would have vested in the event that the issuer's stock price (measured based on a rolling 90-day VWAP) did not appreciate above the Reference Price by at least 100% during the Performance Period."}],"balance_after":803856,"derivative":{"expiration_date":"2028-03-21","underlying":"Class A Common Stock","underlying_shares":803861},"source":{"system":"sec-edgar","filing":"0002062543-25-000007","document":"primary_doc.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/2062543/000206254325000007/primary_doc.xml","form_type":"4/A","original_submission_date":"2025-11-18"}},{"id":996227,"issuer":{"id":5873,"kind":"organization","name":"Bakkt, Inc.","symbol":"BKKT"},"owners":[{"id":46538,"kind":"person","name":"Naheta Akshay Sudhir","position":1,"cik":"0002062543","reported_name":"Naheta Akshay Sudhir","relationship":{"director":true,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"CEO and President"}}],"security":"Class A Common Stock","published_at":"2025-11-19T02:07:56.000Z","date":"2025-11-14","kind":"exercise","planned":false,"acquired":true,"shares":803861,"price":0,"value":0.0,"ownership":{"direct":true},"footnotes":[{"field":"shares","element":"transactionShares","label":"F1","text":"The reported transaction reflects the vesting of performance stock units (\"PSUs\") upon the determination that the applicable performance conditions were satisfied. This amount represents a corresponding number of shares of the issuer's Class A Common Stock."},{"field":"balance_after","element":"sharesOwnedFollowingTransaction","label":"F2","text":"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."}],"balance_after":1098577,"source":{"system":"sec-edgar","filing":"0002062543-25-000007","document":"primary_doc.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2062543/000206254325000007/primary_doc.xml","form_type":"4/A","original_submission_date":"2025-11-18"}},{"id":996226,"issuer":{"id":5873,"kind":"organization","name":"Bakkt, Inc.","symbol":"BKKT"},"owners":[{"id":46538,"kind":"person","name":"Naheta Akshay Sudhir","position":1,"cik":"0002062543","reported_name":"Naheta Akshay Sudhir","relationship":{"director":true,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"CEO and President"}}],"security":"Performance Units","published_at":"2025-11-19T01:15:10.000Z","date":"2025-11-14","kind":"exercise","planned":false,"acquired":false,"shares":803861,"price":0,"value":0.0,"ownership":{"direct":true},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F3","text":"These securities are an inducement grant of PSUs. Each PSU represents a contingent right to receive one share of the issuer's Class A Common Stock."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F4","text":"The PSUs shall be eligible to vest over a three-year performance period following March 21, 2025 (the \"Vesting Commencement Date\") based on attainment of certain stock price metrics as provided below (the \"Performance Period\"). A total of 535,909 of the total PSUs will vest, subject to the reporting person's continued employment with the issuer through such vesting date, if the issuer's stock price (measured based on a rolling 90-day volume-weighted average price \"VWAP\") appreciates at any point during the Performance Period by100% above $9.33 per share (the \"Reference Price\"). [Continued to footnote 5]"},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F5","text":"[Continued from footnote 4] For each additional 25% of stock price appreciation (measured based on a rolling 90-day VWAP) above the Reference Price during the Performance Period, limited to a maximum of eight (8) additional vesting tranches, an additional 133,976PSUs will vest, subject to the reporting person's continued employment with the issuer through such vesting date. No PSUs will vest in the event that the issuer's stock price (measured based on a rolling 90-day VWAP) does not appreciate above the Reference Price by at least 100% during the Performance Period. Any PSUs that satisfy the above vesting conditions prior to the first anniversary of the Vesting Commencement Date will not vest unless and until the first anniversary of the Vesting Commencement Date."}],"balance_after":803856,"derivative":{"expiration_date":"2028-03-21","underlying":"Class A Common Stock","underlying_shares":803861},"source":{"system":"sec-edgar","filing":"0002062543-25-000006","document":"primary_doc.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/2062543/000206254325000006/primary_doc.xml","form_type":"4"}},{"id":996225,"issuer":{"id":5873,"kind":"organization","name":"Bakkt, Inc.","symbol":"BKKT"},"owners":[{"id":46538,"kind":"person","name":"Naheta Akshay Sudhir","position":1,"cik":"0002062543","reported_name":"Naheta Akshay Sudhir","relationship":{"director":true,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"CEO and President"}}],"security":"Class A Common Stock","published_at":"2025-11-19T01:15:10.000Z","date":"2025-11-14","kind":"exercise","planned":false,"acquired":true,"shares":803861,"price":0,"value":0.0,"ownership":{"direct":true},"footnotes":[{"field":"shares","element":"transactionShares","label":"F1","text":"The reported transaction reflects the vesting of performance stock units (\"PSUs\") upon the determination that the applicable performance conditions were satisfied."},{"field":"balance_after","element":"sharesOwnedFollowingTransaction","label":"F2","text":"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."}],"balance_after":1098577,"source":{"system":"sec-edgar","filing":"0002062543-25-000006","document":"primary_doc.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2062543/000206254325000006/primary_doc.xml","form_type":"4"}},{"id":999098,"issuer":{"id":5873,"kind":"organization","name":"Bakkt, Inc.","symbol":"BKKT"},"owners":[{"id":46538,"kind":"person","name":"Naheta Akshay Sudhir","position":1,"cik":"0002062543","reported_name":"Naheta Akshay Sudhir","relationship":{"director":true,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"CEO and President"}}],"security":"Stock Option (right to buy)","published_at":"2025-11-15T02:38:08.000Z","date":"2025-11-12","kind":"exercise","planned":false,"acquired":false,"shares":33557,"price":0,"value":0.0,"ownership":{"direct":true},"footnotes":[{"field":"derivative.exercise_date","element":"exerciseDate","label":"F5","text":"Represents stock options to purchase shares of the Issuer's Class A Common Stock (\"Options\") granted on July 29, 2025, contingent on the Issuer's shareholder approval, which was obtained on October 31, 2025. The Options are a commitment by the grantee to exercise a predetermined number of Options every quarter for eight quarters (the \"Committed Options\") at an exercise price per share equal to $10,00, which reflects the fair market value of a share of Class A Common Stock on the grant date. If the reporting person does not exercise the Committed Options in any quarter, then all remaining Options are forfeited. One-eighth of the Options will become exercisable each quarter (each, a \"Quarterly Tranche\"). [Continued to footnote 6]"},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F6","text":"[Continued from footnote 5] The Committed Options will be exercisable over a two-day period in the applicable quarter (the \"Exercise Period\"); provided that if the Exercise Period for a Quarterly Tranche occurs during a blackout period, then such Exercise Period shall instead be the next quarterly Exercise Period. If the reporting person exercises the Committed Option portion, the remainder of that Quarterly Tranche (the \"Optional Exercise Options\") will become exercisable for a period of one year. The Optional Exercise Option portion of any Quarterly Tranche will expire at the end of such one-year period. [Continued to footnote 7]"},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F7","text":"[Continued from footnote 6] Notwithstanding the foregoing exercise schedule, following the first quarter after stockholder approval of the Options, any portion of the Options may be exercised earlier than the applicable quarter, provided that shares of Class A Common Stock acquired on exercise of the Optional Exercise Options will be subject to a lock-up period so that the shares acquired on exercise may not be sold or transferred until the originally-scheduled exercise date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F5","text":"Represents stock options to purchase shares of the Issuer's Class A Common Stock (\"Options\") granted on July 29, 2025, contingent on the Issuer's shareholder approval, which was obtained on October 31, 2025. The Options are a commitment by the grantee to exercise a predetermined number of Options every quarter for eight quarters (the \"Committed Options\") at an exercise price per share equal to $10,00, which reflects the fair market value of a share of Class A Common Stock on the grant date. If the reporting person does not exercise the Committed Options in any quarter, then all remaining Options are forfeited. One-eighth of the Options will become exercisable each quarter (each, a \"Quarterly Tranche\"). [Continued to footnote 6]"},{"field":"derivative.expiration_date","element":"expirationDate","label":"F6","text":"[Continued from footnote 5] The Committed Options will be exercisable over a two-day period in the applicable quarter (the \"Exercise Period\"); provided that if the Exercise Period for a Quarterly Tranche occurs during a blackout period, then such Exercise Period shall instead be the next quarterly Exercise Period. If the reporting person exercises the Committed Option portion, the remainder of that Quarterly Tranche (the \"Optional Exercise Options\") will become exercisable for a period of one year. The Optional Exercise Option portion of any Quarterly Tranche will expire at the end of such one-year period. [Continued to footnote 7]"},{"field":"derivative.expiration_date","element":"expirationDate","label":"F7","text":"[Continued from footnote 6] Notwithstanding the foregoing exercise schedule, following the first quarter after stockholder approval of the Options, any portion of the Options may be exercised earlier than the applicable quarter, provided that shares of Class A Common Stock acquired on exercise of the Optional Exercise Options will be subject to a lock-up period so that the shares acquired on exercise may not be sold or transferred until the originally-scheduled exercise date."}],"balance_after":1308725,"derivative":{"exercise_price":10,"underlying":"Class A Common Stock","underlying_shares":33557},"source":{"system":"sec-edgar","filing":"0002062543-25-000005","document":"primary_doc.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":3,"url":"https://www.sec.gov/Archives/edgar/data/2062543/000206254325000005/primary_doc.xml","form_type":"4"}},{"id":999097,"issuer":{"id":5873,"kind":"organization","name":"Bakkt, Inc.","symbol":"BKKT"},"owners":[{"id":46538,"kind":"person","name":"Naheta Akshay Sudhir","position":1,"cik":"0002062543","reported_name":"Naheta Akshay Sudhir","relationship":{"director":true,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"CEO and President"}}],"security":"Class A Common Stock","published_at":"2025-11-15T02:38:08.000Z","date":"2025-11-12","kind":"exercise","planned":false,"acquired":true,"shares":33557,"price":10,"value":335570.0,"ownership":{"direct":true},"footnotes":[{"field":"balance_after","element":"sharesOwnedFollowingTransaction","label":"F1","text":"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."}],"balance_after":294716,"source":{"system":"sec-edgar","filing":"0002062543-25-000005","document":"primary_doc.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2062543/000206254325000005/primary_doc.xml","form_type":"4"}},{"id":1008443,"issuer":{"id":5873,"kind":"organization","name":"Bakkt, Inc.","symbol":"BKKT"},"owners":[{"id":46538,"kind":"person","name":"Naheta Akshay Sudhir","position":1,"cik":"0002062543","reported_name":"Naheta Akshay Sudhir","relationship":{"director":true,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"CEO and President"}}],"security":"Stock Option (right to buy)","published_at":"2025-11-04T23:16:15.000Z","date":"2025-10-31","kind":"grant","planned":false,"acquired":true,"shares":1342282,"price":0,"value":0.0,"ownership":{"direct":true},"footnotes":[{"field":"derivative.exercise_date","element":"exerciseDate","label":"F8","text":"Represent stock options to purchase shares of the Issuer's Class A Common Stock (\"Options\") granted on July 29, 2025, contingent on the Issuer's shareholder approval, which was obtained on October 31, 2025. The Options are a commitment by the grantee to exercise a predetermined number of Options every quarter for eight quarters (the \"Committed Options\") at an exercise price per share equal to $10,00, which reflects the fair market value of a share of Class A Common Stock on the grant date. If the reporting person does not exercise the Committed Options in any quarter, then all remaining Options are forfeited. One-eighth of the Options will become exercisable over a two-day period in the applicable quarter (the \"Exercise Period\"); provided that if the Exercise Period for a quarterly tranche occurs during a blackout period, then such Exercise Period shall instead be the next quarterly Exercise Period. [Continued to footnote 9]"},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F9","text":"[Continued from footnote 8] If the reporting person exercises the Committed Option portion, the remainder of that Quarterly Tranche (the \"Optional Exercise Options\") will become exercisable for a period of one year. The Optional Exercise Option portion of any Quarterly Tranche will expire at the end of such one-year period. Notwithstanding the foregoing exercise schedule, following the first quarter after stockholder approval of the Options, any portion of the Options may be exercised earlier than the applicable quarter, provided that shares of Class A Common Stock acquired on exercise of the Optional Exercise Options will be subject to a lock-up period so that the shares acquired on exercise may not be sold or transferred until the originally-scheduled exercise date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F8","text":"Represent stock options to purchase shares of the Issuer's Class A Common Stock (\"Options\") granted on July 29, 2025, contingent on the Issuer's shareholder approval, which was obtained on October 31, 2025. The Options are a commitment by the grantee to exercise a predetermined number of Options every quarter for eight quarters (the \"Committed Options\") at an exercise price per share equal to $10,00, which reflects the fair market value of a share of Class A Common Stock on the grant date. If the reporting person does not exercise the Committed Options in any quarter, then all remaining Options are forfeited. One-eighth of the Options will become exercisable over a two-day period in the applicable quarter (the \"Exercise Period\"); provided that if the Exercise Period for a quarterly tranche occurs during a blackout period, then such Exercise Period shall instead be the next quarterly Exercise Period. [Continued to footnote 9]"},{"field":"derivative.expiration_date","element":"expirationDate","label":"F9","text":"[Continued from footnote 8] If the reporting person exercises the Committed Option portion, the remainder of that Quarterly Tranche (the \"Optional Exercise Options\") will become exercisable for a period of one year. The Optional Exercise Option portion of any Quarterly Tranche will expire at the end of such one-year period. Notwithstanding the foregoing exercise schedule, following the first quarter after stockholder approval of the Options, any portion of the Options may be exercised earlier than the applicable quarter, provided that shares of Class A Common Stock acquired on exercise of the Optional Exercise Options will be subject to a lock-up period so that the shares acquired on exercise may not be sold or transferred until the originally-scheduled exercise date."}],"balance_after":1342282,"derivative":{"exercise_price":10,"underlying":"Class A Common Stock","underlying_shares":1342282},"source":{"system":"sec-edgar","filing":"0002062543-25-000004","document":"primary_doc.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":3,"url":"https://www.sec.gov/Archives/edgar/data/2062543/000206254325000004/primary_doc.xml","form_type":"4"}},{"id":1008442,"issuer":{"id":5873,"kind":"organization","name":"Bakkt, Inc.","symbol":"BKKT"},"owners":[{"id":46538,"kind":"person","name":"Naheta Akshay Sudhir","position":1,"cik":"0002062543","reported_name":"Naheta Akshay Sudhir","relationship":{"director":true,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"CEO and President"}}],"security":"Class A Common Stock","published_at":"2025-11-04T23:16:15.000Z","date":"2025-11-03","kind":"grant","planned":false,"acquired":true,"shares":69733,"price":39.34,"value":2743296.22,"ownership":{"direct":true},"footnotes":[{"field":"security","element":"securityTitle","label":"F1","text":"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."},{"field":"kind","element":"transactionCoding","label":"F2","text":"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."},{"field":"price","element":"transactionPricePerShare","label":"F3","text":"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)."},{"field":"balance_after","element":"sharesOwnedFollowingTransaction","label":"F4","text":"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."}],"balance_after":261159,"source":{"system":"sec-edgar","filing":"0002062543-25-000004","document":"primary_doc.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2062543/000206254325000004/primary_doc.xml","form_type":"4"}},{"id":1056983,"issuer":{"id":5873,"kind":"organization","name":"Bakkt, Inc.","symbol":"BKKT"},"owners":[{"id":46538,"kind":"person","name":"Naheta Akshay Sudhir","position":1,"cik":"0002062543","reported_name":"Naheta Akshay Sudhir","relationship":{"director":true,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"CEO and President"}}],"security":"Class A Common Stock","published_at":"2025-08-25T23:38:48.000Z","date":"2025-08-22","kind":"purchase","planned":false,"acquired":true,"shares":30000,"price":8.5463,"value":256389.0,"ownership":{"direct":true},"footnotes":[{"field":"shares","element":"transactionShares","label":"F4","text":"The number of securities reported represents an aggregate number of shares purchased in multiple open market transactions over a range of purchase prices ranging from $7.985 to $8.70 per share. The price reported represents the weighted average price. The reporting person undertakes to provide to the staff of the SEC the number of shares purchased by the reporting person at each separate price within the ranges set forth in this footnote and in the other footnotes in this Form 4 indicating a weighted average price."},{"field":"price","element":"transactionPricePerShare","label":"F4","text":"The number of securities reported represents an aggregate number of shares purchased in multiple open market transactions over a range of purchase prices ranging from $7.985 to $8.70 per share. The price reported represents the weighted average price. The reporting person undertakes to provide to the staff of the SEC the number of shares purchased by the reporting person at each separate price within the ranges set forth in this footnote and in the other footnotes in this Form 4 indicating a weighted average price."},{"field":"balance_after","element":"sharesOwnedFollowingTransaction","label":"F2","text":"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."}],"balance_after":191426,"source":{"system":"sec-edgar","filing":"0002062543-25-000001","document":"primary_doc.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":3,"url":"https://www.sec.gov/Archives/edgar/data/2062543/000206254325000001/primary_doc.xml","form_type":"4"}},{"id":1056982,"issuer":{"id":5873,"kind":"organization","name":"Bakkt, Inc.","symbol":"BKKT"},"owners":[{"id":46538,"kind":"person","name":"Naheta Akshay Sudhir","position":1,"cik":"0002062543","reported_name":"Naheta Akshay Sudhir","relationship":{"director":true,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"CEO and President"}}],"security":"Class A Common Stock","published_at":"2025-08-25T23:38:48.000Z","date":"2025-08-21","kind":"purchase","planned":false,"acquired":true,"shares":50000,"price":7.9973,"value":399865.0,"ownership":{"direct":true},"footnotes":[{"field":"shares","element":"transactionShares","label":"F3","text":"The number of securities reported represents an aggregate number of shares purchased in multiple open market transactions over a range of purchase prices ranging from $7.97 to $8.00 per share. The price reported represents the weighted average price. The reporting person undertakes to provide to the staff of the SEC the number of shares purchased by the reporting person at each separate price within the ranges set forth in this footnote and in the other footnotes in this Form 4 indicating a weighted average price."},{"field":"price","element":"transactionPricePerShare","label":"F3","text":"The number of securities reported represents an aggregate number of shares purchased in multiple open market transactions over a range of purchase prices ranging from $7.97 to $8.00 per share. The price reported represents the weighted average price. The reporting person undertakes to provide to the staff of the SEC the number of shares purchased by the reporting person at each separate price within the ranges set forth in this footnote and in the other footnotes in this Form 4 indicating a weighted average price."},{"field":"balance_after","element":"sharesOwnedFollowingTransaction","label":"F2","text":"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."}],"balance_after":161426,"source":{"system":"sec-edgar","filing":"0002062543-25-000001","document":"primary_doc.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/2062543/000206254325000001/primary_doc.xml","form_type":"4"}},{"id":1056981,"issuer":{"id":5873,"kind":"organization","name":"Bakkt, Inc.","symbol":"BKKT"},"owners":[{"id":46538,"kind":"person","name":"Naheta Akshay Sudhir","position":1,"cik":"0002062543","reported_name":"Naheta Akshay Sudhir","relationship":{"director":true,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"CEO and President"}}],"security":"Class A Common Stock","published_at":"2025-08-25T23:38:48.000Z","date":"2025-08-21","kind":"purchase","planned":false,"acquired":true,"shares":100000,"price":8.1815,"value":818150.0,"ownership":{"direct":true},"footnotes":[{"field":"shares","element":"transactionShares","label":"F1","text":"The number of securities reported represents an aggregate number of shares purchased in multiple open market transactions over a range of purchase prices ranging from $8.04 to $8.41 per share. The price reported represents the weighted average price. The reporting person undertakes to provide to the staff of the SEC the number of shares purchased by the reporting person at each separate price within the ranges set forth in this footnote and in the other footnotes in this Form 4 indicating a weighted average price."},{"field":"price","element":"transactionPricePerShare","label":"F1","text":"The number of securities reported represents an aggregate number of shares purchased in multiple open market transactions over a range of purchase prices ranging from $8.04 to $8.41 per share. The price reported represents the weighted average price. The reporting person undertakes to provide to the staff of the SEC the number of shares purchased by the reporting person at each separate price within the ranges set forth in this footnote and in the other footnotes in this Form 4 indicating a weighted average price."},{"field":"balance_after","element":"sharesOwnedFollowingTransaction","label":"F2","text":"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."}],"balance_after":111426,"source":{"system":"sec-edgar","filing":"0002062543-25-000001","document":"primary_doc.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2062543/000206254325000001/primary_doc.xml","form_type":"4"}},{"id":1167214,"issuer":{"id":5873,"kind":"organization","name":"Bakkt, Inc.","symbol":"BKKT"},"owners":[{"id":46538,"kind":"person","name":"Naheta Akshay Sudhir","position":1,"cik":"0002062543","reported_name":"Naheta Akshay Sudhir","relationship":{"director":true,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"Co-CEO"}}],"security":"Performance Units","published_at":"2025-04-23T22:16:29.000Z","date":"2025-04-21","kind":"grant","planned":false,"acquired":true,"shares":1607717,"price":0,"value":0.0,"ownership":{"direct":true},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F2","text":"These securities are an inducement grant of performance stock units (\"PSUs\"). Each PSU represents a contingent right to receive one share of the issuer's Class A Common Stock."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F3","text":"The PSUs shall be eligible to vest over a three-year performance period following March 21, 2025 (the \"Vesting Commencement Date\") based on attainment of certain stock price metrics as provided below (the \"Performance Period\"). A total of 535,909 of the total PSUswill vest, subject to the reporting person's continued employment with the issuer through such vesting date, if the issuer's stock price (measured based on a rolling 90-day volume-weighted average price \"VWAP\") appreciates at any point during the Performance Period by100% above $9.33 per share (the \"Reference Price\"). [Continued to footnote 4]"},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F4","text":"[Continued from footnote 3] For each additional 25% of stock price appreciation (measured based on a rolling 90-day VWAP) above the Reference Price during the Performance Period, limited to a maximum of eight (8) additional vesting tranches, an additional 133,976PSUs will vest, subject to the reporting person's continued employment with the issuer through such vesting date. No PSUs will vest in the event that the issuer's stock price (measured based on a rolling 90-day VWAP) does not appreciate above the Reference Price by atleast 100% during the Performance Period. Any PSUs that satisfy the above vesting conditions prior to the first anniversary of the Vesting Commencement Date will not vest unless and until the first anniversary of the Vesting Commencement Date."}],"balance_after":1607717,"derivative":{"expiration_date":"2028-03-21","underlying":"Class A Common Stock","underlying_shares":1607717},"source":{"system":"sec-edgar","filing":"0001415889-25-011231","document":"form4-04232025_100426.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/2062543/000141588925011231/form4-04232025_100426.xml","form_type":"4"}},{"id":1167213,"issuer":{"id":5873,"kind":"organization","name":"Bakkt, Inc.","symbol":"BKKT"},"owners":[{"id":46538,"kind":"person","name":"Naheta Akshay Sudhir","position":1,"cik":"0002062543","reported_name":"Naheta Akshay Sudhir","relationship":{"director":true,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"Co-CEO"}}],"security":"Class A Common Stock","published_at":"2025-04-23T22:16:29.000Z","date":"2025-04-21","kind":"grant","planned":false,"acquired":true,"shares":11426,"price":0,"value":0.0,"ownership":{"direct":true},"footnotes":[{"field":"shares","element":"transactionShares","label":"F1","text":"These securities are an inducement grant of 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."}],"balance_after":11426,"source":{"system":"sec-edgar","filing":"0001415889-25-011231","document":"form4-04232025_100426.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2062543/000141588925011231/form4-04232025_100426.xml","form_type":"4"}}]}