Sean Collins
About Sean Collins
Sean Collins, 45, is an independent director and serves as Chairman of the Board at Bakkt Holdings, Inc. (BKKT); he has been a director since the 2021 business combination closing and currently sits on the Audit & Risk and Nominating & Corporate Governance Committees . He co-founded Goldfinch Partners (Managing Partner, 2018–present) and previously co-founded BCG Digital Ventures, where he was elected the youngest Senior Partner in 2017; earlier roles include SVP of Marketing, E‑Commerce & Strategy at Sports Authority and work at McKinsey & Company; Collins holds a BA in Economics and Music from Whitman College . The Board affirmed his independence but considered his personal friendship with Co‑CEO Akshay Naheta and Naheta’s minority LP investment in a Goldfinch Partners fund in 2021 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Goldfinch Partners | Co‑founder & Managing Partner | 2018–present | Invests in enterprise software and fintech; current external role |
| BCG Digital Ventures (BCG DV) | Co‑founder & Chief Investment Officer; elected youngest Senior Partner | Prior to 2018; 2017 (Senior Partner election) | Built new digital business units; spin‑outs; senior leadership credential |
| Sports Authority, Inc. | SVP, Marketing, E‑Commerce & Strategy | Not disclosed | Retail and loyalty/marketing functional depth |
| McKinsey & Company | Marketing Practice | Not disclosed | Early career consulting foundation |
External Roles
| Organization | Role | Status | Notes |
|---|---|---|---|
| Goldfinch Partners (venture firm) | Managing Partner | Active | Board considered Naheta’s minority LP investment in 2021 when affirming Collins’ independence |
No other public company directorships were disclosed in BKKT’s proxy materials for Collins .
Board Governance
- Current roles: Chairman of the Board; Audit & Risk Committee member; Nominating & Corporate Governance Committee member .
- Independence status: Board determined Collins is independent under NYSE rules, explicitly considering his personal friendship with Akshay Naheta and Naheta’s minority LP investment in a Goldfinch Partners fund (2011) .
- Committee history: Served on the Compensation Committee (and previously as Chair in 2024); ceased serving April 10, 2025 .
- Attendance: In FY2024, the Board held 12 meetings; each director attended at least 75% of Board and applicable committee meetings .
- Executive sessions: Non‑employee directors meet in executive session at least twice per year; independent directors also meet at least twice per year if any non‑employee directors are non‑independent .
- Tenure: Director since 2021; current term (Class III) runs to 2027 .
Fixed Compensation
- Outside Director Compensation Program (cash fees):
- Non‑employee director: $50,000/year .
- Non‑executive Board Chair: $100,000/year .
- Audit Chair: $25,000/year; Audit member: $10,000/year .
- Compensation Chair: $20,000/year; Compensation member: $7,500/year .
- Nominating Chair: $12,000/year; Nominating member: $5,000/year .
- Special committees: $798,000 total paid to members in 2024 for strategic review committees .
| Director Compensation – FY2024 | Amount ($) |
|---|---|
| Fees Paid or Earned in Cash (Collins) | 300,000 |
| Stock Awards (Grant Date Fair Value) (Collins) | 385,000 |
| Total (Collins) | 685,000 |
Fees are paid quarterly; directors may elect to take cash retainers in RSUs .
Performance Compensation
- Annual equity grants: RSUs valued at $200,000 granted at each Annual Meeting, vesting at the earlier of one year or the next Annual Meeting; change‑in‑control provides full acceleration if the director remains through closing .
- Outstanding director RSUs (as of 12/31/2024): Collins held 21,875 RSUs, scheduled to vest in full on May 31, 2025 .
- 2024 stock awards (grant date fair value): Collins $385,000 .
| Equity Award Details | Terms |
|---|---|
| Annual RSU Value | $200,000 per year; time‑based vest (earlier of 1 year or next Annual Meeting) |
| Change‑in‑Control | Director RSUs accelerate in full at closing if serving through completion |
| Collins RSUs Outstanding (12/31/2024) | 21,875 RSUs; vest May 31, 2025 |
| Collins Stock Awards (FY2024 fair value) | $385,000 |
No director options or performance metrics (TSR/EBITDA) are disclosed for non‑employee directors; program is RSU‑based with time‑based vesting .
Other Directorships & Interlocks
| Item | Disclosure |
|---|---|
| Compensation Committee Interlocks | In 2024, Compensation Committee members included Collins, Simeone, and (until Mar 26, 2024) Andrew Main, who became CEO; Collins ceased serving on the Compensation Committee April 10, 2025 . |
| Related relationship considered for independence | Board considered Collins’ friendship with Akshay Naheta and Naheta’s minority LP investment in a Goldfinch Partners fund; Collins was still deemed independent . |
Expertise & Qualifications
- Over 20 years investing, advising, operating, and building digital businesses; depth in financial services, retail, marketing, and loyalty .
- Co‑founder of BCG Digital Ventures; elected youngest Senior Partner at BCG in 2017 .
- Managing Partner at Goldfinch Partners since 2018; fintech and enterprise software investing .
- BA in Economics and Music from Whitman College .
Equity Ownership
| Beneficial Ownership (as of 3/31/2025) | Amount |
|---|---|
| Class A Common Shares (Collins) | 33,240; less than 1% |
| Paired Interests (Opco unit + Class V share) | — (not disclosed for Collins) |
| Total Voting Power | Less than 1% |
| RSUs Outstanding (12/31/2024) | 21,875; vest May 31, 2025 |
No pledging, hedging, or ownership guideline compliance disclosures were provided for Collins .
Governance Assessment
- Strengths:
- Independent Board Chair, majority‑independent Board, and committees of independent directors; Collins’ roles on Audit & Risk and Nominating enhance oversight of financial reporting, cybersecurity, and governance practices .
- Documented executive sessions of non‑employee and independent directors support board autonomy .
- Attendance threshold met; no <75% attendance concerns in FY2024 .
- Watch items / RED FLAGS:
- Personal friendship with Co‑CEO Akshay Naheta and Naheta’s minority LP investment in a Goldfinch Partners fund where Collins is Managing Director; Board assessed and affirmed independence, but the relationship warrants ongoing monitoring for related‑party exposure .
- Significant special committee cash compensation ($798,000 aggregate in 2024) may introduce perceived incentives around strategic transactions; continued transparency on special committee mandates and fee determinations is advisable .
- Director RSU acceleration upon change‑in‑control is shareholder‑common but can be scrutinized in contested transactions; maintain robust process and independent committee reviews .
Current committee assignments and the shift away from Compensation Committee participation (ceased April 10, 2025) reduce direct involvement in executive pay setting, which may mitigate interlock concerns .