Welcome to our dedicated page for Bakkt SEC filings (Ticker: BKKT), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Bakkt, Inc. filings document the regulatory record of a public financial technology company focused on digital asset and programmable finance infrastructure. Its SEC disclosures cover operating and financial results, Regulation FD materials, shareholder letters, material-event reports, and securities registered for trading, including Class A common stock and warrants.
Bakkt’s proxy and 8-K filings also address governance matters, executive compensation, shareholder voting items, share-issuance approvals, material agreements, and capital-structure actions such as an at-the-market equity program. The filing record includes notices related to annual-report timing and formal disclosures tied to special meetings, securities issuance mechanics, and public-company reporting obligations.
Bakkt Holdings, Inc. has updated how it presents its past financial results to reflect the sale of its loyalty and travel redemption business. The company previously sold all equity interests in several subsidiaries that made up this Loyalty Business, and management determined the business should be treated as a discontinued operation under accounting rules as of September 30, 2025.
As a result, Bakkt is recasting the financial information and related discussion in its Annual Report for the year ended December 31, 2024 to remove the Loyalty Business from continuing operations. Updated versions of Management’s Discussion and Analysis and the audited financial statements are being filed as an exhibit, along with a re-dated auditor’s report that reflects the recast and subsequent events, while all other disclosures from the original Annual Report remain unchanged.
Bakkt Holdings (BKKT) has a notice on file for a planned sale of common stock under Rule 144. The planned transaction covers 27,681 common shares to be sold through Morgan Stanley Smith Barney LLC Executive Financial Services, with an aggregate market value of $355,172.10, on or around 12/09/2025 on the NYSE. The shares were acquired as restricted stock that vested under a registered compensation plan on three dates in 2025, in amounts of 10,417 shares, 5,900 shares, and 11,364 shares, all treated as compensation. The issuer reports 24,038,434 common shares outstanding, providing context for the scale of this planned sale.
Bakkt Holdings, Inc. (BKKT) reported a significant equity conversion involving a major shareholder. Intercontinental Exchange Holdings, Inc. (ICEH), a director and more than 10% owner, acquired 465,890 shares of Bakkt Class A common stock on December 3, 2025.
The shares came from ICEH’s Series A Non-Voting Convertible Preferred Stock, received as part of Bakkt’s November 3, 2025 reorganization. ICEH contributed its rights under a tax receivable agreement to Bakkt, received a cash payment equal to its entitlement, and then contributed that cash back for 465,890 preferred shares, which automatically converted into Class A common stock after early termination of the Hart-Scott-Rodino waiting period by the Federal Trade Commission on December 3, 2025.
Following the transaction, ICEH indirectly beneficially owned 7,919,002 Class A shares. ICEH also holds Class 1 and Class 2 warrants, each covering 230,680 Class A shares at an exercise price of $25.5 per share, exercisable from November 3, 2025 until September 4, 2029.
Bakkt Holdings, Inc. reports updated ownership details for Intercontinental Exchange entities following a corporate reorganization completed on November 3, 2025. Through a series of mergers, Bakkt’s prior holding structure was consolidated so that only a single class of common stock, Class A, remains outstanding while preserving existing economic interests.
OpCo common units paired with Class V common stock were exchanged into Class A common stock, and Intercontinental Exchange Holdings, Inc. indirectly holds 7,453,112 shares of Class A common stock after these transactions. ICEH also received 465,890 shares of Series A Non-Voting Convertible Preferred Stock, which will automatically convert into Class A common stock upon satisfaction of Hart-Scott-Rodino waiting period conditions or transfer to an unaffiliated party. Existing Class 1 and Class 2 warrants, each for 230,680 shares of Class A common stock, were carried over as equivalent, immediately exercisable warrants. The report also corrects earlier coding and reporting-person details.
Bakkt Holdings, Inc. director Richard Galvin reported his beneficial ownership of the company’s equity. He holds 6,654 shares of Class A common stock, reported as directly owned.
The filing explains that these holdings consist of restricted stock units (RSUs), with each RSU representing a right to receive one share of Class A common stock. All of the RSUs are scheduled to vest on June 17, 2026, provided Mr. Galvin continues to provide service to Bakkt through that date. The ownership report reflects his status as a director and a single reporting person.
Bakkt Holdings, Inc. director Michael Alfred reported a new equity award on a Form 4. On 11/19/2025, he acquired 9,000 shares of Class A common stock in the form of restricted stock units (RSUs) at a stated price of $0. Each RSU represents a right to receive one share of Class A common stock, and 100% of these RSUs are scheduled to vest on November 9, 2026, if he continues to provide service to the company through that date.
After this grant, Alfred is shown as beneficially owning 28,476 shares of Class A common stock directly, including shares subject to RSUs that are still unvested. He is also reported as indirectly holding 40,000 shares of Class A common stock through Alpine Fox LP, over which he has control, while disclaiming beneficial ownership beyond his economic interest.
Bakkt Holdings, Inc. reported that on November 21, 2025 it elected to subscribe to 47,500,000 warrants to be issued by Transchem Ltd., an Indian company listed on BSE Ltd. The purchase price for these warrants is approximately $10 million.
The warrants may be exercised for shares of Transchem common stock within 18 months of issuance, in one or more tranches, and the investment also includes an option for Bakkt to subscribe for additional warrants. Transchem has told Bakkt it has identified a potential acquisition target in India engaged in stock broking and registered with the Securities and Exchange Board of India as both a stockbroker and a depository participant.
Bakkt states that, subject to definitive agreements, shareholder and regulatory approvals and other customary closing conditions, it expects to provide further updates on the structure of the investment, any potential corporate name change or rebranding, and expected changes to management and governance.
Bakkt Holdings, Inc. (BKKT) CEO and President Akshay Naheta reported the vesting of 803,861 performance stock units into Class A Common Stock on November 14, 2025 at a price of $0 per share. Following this transaction, he beneficially owned 1,098,577 shares of Class A Common Stock, which includes 11,426 restricted stock units scheduled to vest on March 21, 2026, subject to continued employment.
The filing also notes an inducement grant of performance stock units tied to stock price performance relative to a $9.33 reference price, with 803,861 of these units vesting after stock price conditions were met. In addition, Naheta holds stock options covering 1,308,725 shares of Class A Common Stock at an exercise price of $10 per share, structured in quarterly tranches with specific exercise and forfeiture mechanics.
Bakkt Holdings, Inc. (BKKT) insider Akshay Sudhir Naheta filed Amendment No. 1 to his Schedule 13D, updating his beneficial ownership in Bakkt’s Class A Common Stock. He now reports beneficial ownership of 3,199,732 shares, representing 11.9% of the Class A common stock, based on 26,989,085 shares outstanding including his options and PSUs.
The position consists of 249,733 shares of Class A stock, options to acquire 1,342,282 shares, and 1,607,717 shares tied to performance-based stock units, of which 803,861 PSUs have vested. The amendment states it is being filed due to an increase in Bakkt’s total outstanding shares, rather than new transactions by Naheta.
The filing also details Naheta’s employment terms, option exercise schedule, RSU and PSU grants, and a Cooperation Agreement involving DTR that includes put and call options under which Naheta could receive a significant additional equity stake if certain payment-processing and transaction conditions are met.
Bakkt Holdings, Inc. (BKKT) reported an insider equity transaction by CEO, President and Director Akshay Sudhir Naheta. On 11/14/2025, 803,861 performance stock units vested and were settled in shares of Class A Common Stock at a reported price of $0, increasing his directly held stake to 1,098,577 shares, including 11,426 restricted stock units that are scheduled to vest on March 21, 2026, subject to continued employment.
The vested performance stock units are part of an inducement grant that can vest over a three-year performance period starting March 21, 2025, based on the stock’s 90-day volume-weighted average price appreciating at least 100% above a $9.33 reference price, with additional vesting in set tranches for further stock price appreciation. The filing also reflects stock options covering 1,308,725 shares of Class A Common Stock at an exercise price of $10 per share, structured in quarterly tranches with specific exercise and lock-up conditions.