Andrew Main appointed CEO effective March 26; Gavin Michael steps down as CEO

Bakkt, Inc.

Andrew Main named President and CEO succeeding Gavin Michael, who becomes advisor through March 2025.
Main receives $500k base salary, $10M in RSUs (75% time-based, 25% performance-based).
Michael gets $1.28M lump sum, accelerated RSU vesting, and 1.59M RSUs for advisory role.
Company reschedules Q4/FY2023 earnings call to March 25, 2024 at 5pm ET.
Main says capital raise proceeds and cost savings (NYDFS-approved integration) alleviate going concern doubt.

item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Andrew Main

President and Chief Executive Officer

BKKT · Bakkt, Inc.

Effective: 2024-03-26
Filed: March 19, 2024, 7:59 PM ET

On March 18, 2024, Bakkt Holdings, Inc. (the “Company”) announced that the Company’s Board of Directors (the “Board”) appointed Andrew Main to serve as the Company’s President and Chief Executive Officer, effective as of March 26, 2024.

Departed

Gavin Michael

President and Chief Executive Officer

BKKT · Bakkt, Inc.

Effective: 2024-03-26
Successor: Andrew Main
Filed: March 19, 2024, 7:59 PM ET

Mr. Main will succeed Gavin Michael, the Company’s current President and Chief Executive Officer, who will remain with the Company as an advisor for a period of one year.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Andrew Main was appointed as President and Chief Executive Officer at Bakkt, Inc..

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

On March 18, 2024, Bakkt Holdings, Inc. (the “Company”) announced that the Company’s Board of Directors (the “Board”) appointed Andrew Main to serve as the Company’s President and Chief Executive Officer, effective as of March 26, 2024.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Gavin Michael departed as President and Chief Executive Officer at Bakkt, Inc..

Action: succeeded
Role: President and Chief Executive Officer

Exact text from the filing

Mr. Main will succeed Gavin Michael, the Company’s current President and Chief Executive Officer, who will remain with the Company as an advisor for a period of one year.

View on SEC.gov

Bakkt, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-070368

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