BKKT · Bakkt, Inc.

Represents sale to cover tax obligations associated with the vesting of restricted stock units.

Includes 12,829 shares of Class A Common Stock subject to restricted stock units that remain subject to vesting.

Represents sale to cover tax obligations associated with the vesting of restricted stock units.

Includes 2,640 shares of Class A Common Stock subject to restricted stock units and performance stock units that remain subject to vesting.

Represents sale to cover tax obligations associated with the vesting of restricted stock units.

Includes 12,829 shares of Class A Common Stock subject to restricted stock units that remain subject to vesting.

The sales were effectuated pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 09/10/2025.

Represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $7.68 to $7.78, inclusive.

Includes 14,567 shares of Class A Common Stock subject to restricted stock units and performance stock units that remain subject to vesting.

Represents sale to cover tax obligations associated with the vesting of restricted stock units.

Includes 14,576 shares of Class A Common Stock subject to restricted stock units and performance stock units that remain subject to vesting.

Represents sale to cover tax obligations associated with the vesting of restricted stock units.

Includes 48,606 shares of Class A Common Stock subject to restricted stock units that remain subject to vesting.

Represents sale to cover tax obligations associated with the vesting of restricted stock units.

Includes 14,576 shares of Class A Common Stock subject to restricted stock units and performance stock units that remain subject to vesting.

Represents sale to cover tax obligations associated with the vesting of restricted stock units.

Includes 2,904 shares of Class A Common Stock subject to restricted stock units that remain subject to vesting.

Represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $7.61 to $7.99, inclusive.

Represents shares of the issuer's Class A Common Stock held through Alpine Fox LP, over which the reporting person has control.

Represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $7.52 to $7.96, inclusive.

Represents shares of the issuer's Class A Common Stock held through Alpine Fox LP, over which the reporting person has control.

Represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $7.98 to $8.93, inclusive.

Represents shares of the issuer's Class A Common Stock held through Alpine Fox LP, over which the reporting person has control.

Includes 18,852 shares of Class A Common Stock subject to restricted stock units and performance stock units that remain subject to vesting.

Represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $7.91 to $8.63, inclusive.

Represents shares of the issuer's Class A Common Stock held through Alpine Fox LP, over which the reporting person has control.

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.

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.

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.

Includes 803,861 Performance Stock Units that remain subject to certain vesting conditions

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.

Includes 14,861 shares of Class A Common Stock subject to restricted stock units and performance stock units awards that remain subject to vesting.

Includes 69,988 shares of Class A Common Stock subject to RSU awards that remain subject to vesting.

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.

Issued to the Reporting Person on April 30, 2026 as consideration payable upon the acquisition of DTR pursuant to the Purchase Agreement.

Represents sale to cover tax obligations associated with the vesting of restricted stock units.

Includes 18,852 shares of Class A Common Stock subject to restricted stock units and performance stock units awards that remain subject to vesting.

The sales were effectuated pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 09/10/2025.

Represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $8.51 to $8,60, inclusive. For all transactions reported in this Form 4 utilizing a weighted-average price, the reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.

Includes 14,861 shares of Class A Common Stock subject to restricted stock units and performance stock units awards that remain subject to vesting.

Represents sale to cover tax obligations associated with the vesting of restricted stock units.

Includes 69,988 shares of Class A Common Stock subject to RSU awards that remain subject to vesting.

Represents sale to cover tax obligations associated with the vesting of restricted stock units.

Includes 18,852 shares of Class A Common Stock subject to restricted stock units and performance stock units that remain subject to vesting.

Represents sale to cover tax obligations associated with the vesting of restricted stock units.

Includes 77,294 shares of Class A Common Stock subject to RSU awards that remain subject to vesting.

The sales were effectuated pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 09/10/2025.

Represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $6.8900 to $7.8899, inclusive. For all transactions reported in this Form 4 utilizing a weighted-average price, the reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.

Includes 30,622 shares of Class A Common Stock subject to restricted stock units and performance stock units awards that remain subject to vesting.

Represents sale to cover tax obligations associated with the vesting of restricted stock units.

Includes 30,622 shares of Class A Common Stock subject to restricted stock units and performance stock units awards that remain subject to vesting.

Includes 50,229 shares of Class A Common Stock subject to restricted stock units and performance stock units awards that remain subject to vesting.

The sales were effectuated pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 09/10/2025.

Represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $10.0114 to $10.1200, inclusive. For all transactions reported in this Form 4 utilizing a weighted-average price, the reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.

Represents sale to cover tax obligations associated with the vesting of restricted stock units ("RSUs").

Includes 6,851 shares of Class A Common Stock subject to RSU awards that remain subject to vesting.

In connection with the Issuer's November 3, 2025 reorganization, pursuant to the TRA Amendment and the Contribution Agreement, as amended (both as defined in the Form 8K12B filed by the Issuer on November 3, 2025), ICEH contributed its rights under the TRA (as defined in such Form 8K12B) to the Issuer in exchange for a cash payment from the Issuer equal to the amount which ICEH was otherwise entitled under the TRA and ICEH further contributed such cash to the Issuer in exchange for 465,890 shares of the Issuer's Series A Non-Voting Convertible Preferred Stock (the "Preferred Stock"). These shares of Preferred Stock automatically converted into shares of the Issuer's Class A Common Stock upon the early termination of the waiting period applicable to such conversion under the Hart-Scott-Rodin Antitrust Improvements Act of 1976, granted by the Federal Trade Commission on December 3, 2025.

Intercontinental Exchange Holdings, Inc. ("ICEH") is the direct holder of the securities reflected in this Form 4. ICEH is a wholly owned subsidiary of Intercontinental Exchange, Inc.

In connection with the Issuer's November 3, 2025 reorganization, pursuant to the TRA Amendment and the Contribution Agreement, as amended (both as defined in the Form 8K12B filed by the Issuer on November 3, 2025), ICEH contributed its rights under the TRA (as defined in such Form 8K12B) to the Issuer in exchange for a cash payment from the Issuer equal to the amount which ICEH was otherwise entitled under the TRA and ICEH further contributed such cash to the Issuer in exchange for 465,890 shares of the Issuer's Series A Non-Voting Convertible Preferred Stock (the "Preferred Stock"). These shares of Preferred Stock automatically converted into shares of the Issuer's Class A Common Stock upon the early termination of the waiting period applicable to such conversion under the Hart-Scott-Rodin Antitrust Improvements Act of 1976, granted by the Federal Trade Commission on December 3, 2025.

Intercontinental Exchange Holdings, Inc. ("ICEH") is the direct holder of the securities reflected in this Form 4. ICEH is a wholly owned subsidiary of Intercontinental Exchange, Inc.

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 November 9, 2026, provided that the reporting person continues to provide service to the issuer through such date.

Includes 28,476 shares of Class A Common Stock subject to RSUs that remain subject to vesting.

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.

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.

In connection with the exercising of Options on November 12, 2025, the issuer withheld Class A Common Stock that would otherwise have been issued to the reporting person to satisfy such person's tax withholding obligations. The number of shares withheld was determined based on the closing price per share of Class A Common Stock on November 12, 2025.

Includes 96,143 shares of Class A Common Stock subject to restricted stock units that remain subject to vesting.

In connection with the exercising of Options on November 12, 2025, the issuer withheld Class A Common Stock that would otherwise have been issued to the reporting person to satisfy such person's tax withholding obligations. The number of shares withheld was determined based on the closing price per share of Class A Common Stock on November 12, 2025.

Includes 50,229 shares of Class A Common Stock subject to restricted stock units and performance stock units that remain subject to vesting.

In connection with the exercising of Options on November 12, 2025, the issuer withheld Class A Common Stock that would otherwise have been issued to the reporting person to satisfy such person's tax withholding obligations. The number of shares withheld was determined based on the closing price per share of Class A Common Stock on November 12, 2025.

Includes 50,229 shares of Class A Common Stock subject to restricted stock units and performance stock units awards that remain subject to vesting.

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.

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]

[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.

Includes 13,397 shares of Class A Common Stock subject to RSU awards that remain subject to vesting.

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]

[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]

[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.

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 3]

[Continued from footnote 2] 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 4]

[Continued from footnote 3] 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.

Includes 50,229 shares of Class A Common Stock subject to restricted stock units and performance stock units awards that remain subject to vesting.

Includes 50,229 shares of Class A Common Stock subject to restricted stock units and performance stock units that remain subject to vesting.

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 each quarter (each, a "Quarterly Tranche"). [Continued to footnote 3]

[Continued from footnote 2] 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 4]

[Continued from footnote 3] 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.

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.

Includes 96,143 shares of Class A Common Stock subject to restricted stock units that remain subject to vesting.

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 3]

[Continued from footnote 2] 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 4]

[Continued from footnote 3] 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.

In accordance with the terms of the OpCo Merger Agreement (as defined in the Form 8-K12B filed by the Issuer on November 3, 2025 (the "8-K")), each membership unit of Bakkt Management, LLC (the "Management Vehicle") outstanding immediately prior to the closing of the Reorganization was exchanged for a corresponding OpCo Incentive Unit (as defined in the 8-K) granted under the Second Amended and Restated Bakkt Equity Incentive Plan, as amended, held by the Management Vehicle, together with the paired share of New Bakkt Class V Common Stock (as defined in the 8-K). Each OpCo Incentive Unit and paired share of New Bakkt Class V Common Stock outstanding immediately prior to the closing of the Reorganization was then exchanged for one validly issued, fully paid, and nonassessable share of Class A Common Stock.

On November 3, 2025, pursuant to a reorganization (the "Reorganization"), Bakkt Holdings, Inc. (formerly known as Bakkt NewCo Holdings, Inc.) (the "Issuer") became the successor of Bakkt Intermediate Holdings, Inc. (formerly known as Bakkt Holdings, Inc.) ("Bakkt") pursuant to merger transactions in which a subsidiary of the Issuer merged with and into Bakkt, with Bakkt surviving and, immediately following such merger, a subsidiary of the Issuer merged with and into Bakkt OpCo Holdings LLC ("OpCo"), a subsidiary of Bakkt, 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 interests of security holders.

In accordance with the terms of the PubCo Merger Agreement (as defined in the Form 8K12B filed by the Issuer on November 3, 2025 (the "8-K")), (i) each share of Class A common stock of Bakkt ("Bakkt Class A Common Stock") issued and outstanding immediately prior to the effective time of the Holding Company Reorganization (as defined in the 8-K) (the "Holding Company Reorganization Effective Time") was converted automatically into the right to receive one validly issued, fully paid and non-assessable share of the Issuer's Class A Common Stock, having the same rights and limitations as the shares so converted, and (ii) each share of Class V common stock of Bakkt issued and outstanding immediately prior to the Holding Company Reorganization Effective Time was converted automatically into the right to receive one validly issued, fully paid and non-assessable share of the Issuer's Class V Common Stock, having the same rights and limitations as the shares so converted.

Intercontinental Exchange Holdings, Inc. ("ICEH") is the direct holder of the securities reflected in this Form 4. ICEH is a wholly owned subsidiary of Intercontinental Exchange, Inc. ("ICE").

On November 3, 2025, pursuant to a reorganization (the "Reorganization"), Bakkt Holdings, Inc. (formerly Bakkt NewCo Holdings, Inc.) became the successor of Bakkt Intermediate Holdings, Inc (formerly Bakkt Holdings, Inc.)("Bakkt") pursuant to merger transactions, in which a subsidiary of Bakkt Holdings, Inc. merged with and into Bakkt Intermediate Holdings, Inc. with Bakkt Intermediate Holdings, Inc. surviving and, immediately following such merger, a subsidiary of Bakkt Holdings, Inc. merged with and into Bakkt OpCo Holdings LLC ("OpCo"), a subsidiary of Bakkt Holdings Intermediate, Inc., with OpCo surviving. The mergers resulted in the Issuer becoming the parent holding company of Bakkt and OpCo, but did not alter the proportionate economic interest of security holders.

Pursuant to the TRA Amendment and the Contribution Agreement, as amended (both defined in the Form 8-K12B filed by the Issuer on November 3, 2025 (the "8-K")), the reporting person agreed that he would, at closing of the Reorganization, (i) contribute his rights under the TRA (defined in the 8-K) to the Issuer in exchange for a cash payment from the Issuer equal to the respective amount to which the reporting person would otherwise be entitled under the TRA and (ii) contribute such cash to the Issuer in exchange for shares of Class A Common Stock ("Shares"), and further agreed that the obligations of the reporting person, on the one hand, and the Issuer, on the other hand, to transfer the foregoing cash amounts will be net-settled and offset against one another.

Pursuant to the Contribution Agreement, as amended, the price at which the reporting person received Shares in exchange for his contribution was determined based on the "Minimum Price," as defined in NYSE Rule 312.04(h).

Includes 11,426 restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the issuer's Class A Common Stock. The RSUs will vest on March 21, 2026, subject to the reporting person's continued employment with the issuer as of the vesting date.