Bakkt enters cooperation with DTR for stablecoin payments, appoints Naheta Co-CEO

Bakkt, Inc.

DTR provides exclusive payment tech; Bakkt gets call option to acquire DTR for 19.9%-31.5% of Bakkt shares.
Put option triggers if cumulative payments exceed $2B in any 18-month period.
Akshay Naheta and Andrew Main named Co-CEOs effective March 21, 2025; Naheta also appointed Class I director.
Naheta receives $15M performance-based RSUs tied to stock price milestones and $150K time-based RSUs.
Commercial term minimum 3 years; Bakkt fees: 2.5 bps (US) and 5 bps (international) per payment.

item 1.01 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Andrew Main

Co-Chief Executive Officer

BKKT · Bakkt, Inc.

Effective: 2025-03-21
Filed: March 20, 2025, 7:59 PM ET

the Board appointed each of Akshay Naheta and Andrew Main, the current President and Chief Executive Officer of the Company, to serve as the Company’s Co-Chief Executive Officers (each a “Co-CEO” and together, the “Co-CEOs”), effective March 21, 2025.

Appointed

Akshay Naheta

Class I Director

BKKT · Bakkt, Inc.

Effective: 2025-03-21
Filed: March 20, 2025, 7:59 PM ET

Mr. Naheta also was appointed as a Class I Director of the Board, to serve until the 2025 annual meeting of stockholders.

Appointed

Akshay Naheta

Co-Chief Executive Officer

BKKT · Bakkt, Inc.

Effective: 2025-03-21
Filed: March 20, 2025, 7:59 PM ET

the Board appointed each of Akshay Naheta and Andrew Main, the current President and Chief Executive Officer of the Company, to serve as the Company’s Co-Chief Executive Officers (each a “Co-CEO” and together, the “Co-CEOs”), effective March 21, 2025.

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 Co-Chief Executive Officer at Bakkt, Inc..

Action: appointed
Role: Co-Chief Executive Officer

Exact text from the filing

the Board appointed each of Akshay Naheta and Andrew Main, the current President and Chief Executive Officer of the Company, to serve as the Company’s Co-Chief Executive Officers (each a “Co-CEO” and together, the “Co-CEOs”), effective March 21, 2025.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Akshay Naheta was appointed as Class I Director at Bakkt, Inc..

Action: appointed
Role: Class I Director

Exact text from the filing

Mr. Naheta also was appointed as a Class I Director of the Board, to serve until the 2025 annual meeting of stockholders.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Akshay Naheta was appointed as Co-Chief Executive Officer at Bakkt, Inc..

Action: appointed
Role: Co-Chief Executive Officer

Exact text from the filing

the Board appointed each of Akshay Naheta and Andrew Main, the current President and Chief Executive Officer of the Company, to serve as the Company’s Co-Chief Executive Officers (each a “Co-CEO” and together, the “Co-CEOs”), effective March 21, 2025.

View on SEC.gov

Bakkt, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-25-013900

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