Bakkt Co-CEO Andrew Main departs Aug 11; Akshay Naheta becomes sole CEO

Bakkt, Inc.

Andrew Main resigns as Co-CEO and President effective Aug 11, 2025; will serve as advisor through sale of Loyalty business.
Main receives $1.5M severance (2x salary + target bonus + COBRA) and accelerated vesting of unvested RSUs/PRSUs.
Akshay Naheta appointed sole CEO and President effective Aug 11, 2025.
Director Gordon Watson resigns effective Aug 11, 2025; board size reduced to seven.
Departures are not due to any disagreement with the company's operations or policies.

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