---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-013900"
form_type: "8-K"
ticker: "BKKT"
cik: "0001820302"
company_name: "Bakkt, Inc."
filed_at: "2025-03-20T23:59:59+00:00"
generated_at: "2026-05-24T10:41:55.683265+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-25-013900
- form_type: 8-K
- ticker: BKKT
- cik: 0001820302
- company_name: Bakkt, Inc.
- filed_at: 2025-03-20T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1820302/000162828025013900/0001628280-25-013900-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1820302/000162828025013900/bakkt-20250319.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-013900
- JSON: https://secwatch.observer/filing/0001628280-25-013900.json
- Plain text: https://secwatch.observer/filing/0001628280-25-013900.txt

## Key facts
- Executive change
  Andrew Main was appointed as Co-Chief Executive Officer at Bakkt, Inc..
  - Action: appointed
  - Role: Co-Chief Executive Officer
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1820302/000162828025013900/0001628280-25-013900-index.htm
- Executive change
  Akshay Naheta was appointed as Class I Director at Bakkt, Inc..
  - Action: appointed
  - Role: Class I Director
  source text: Mr. Naheta also was appointed as a Class I Director of the Board, to serve until the 2025 annual meeting of stockholders.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1820302/000162828025013900/0001628280-25-013900-index.htm
- Executive change
  Akshay Naheta was appointed as Co-Chief Executive Officer at Bakkt, Inc..
  - Action: appointed
  - Role: Co-Chief Executive Officer
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1820302/000162828025013900/0001628280-25-013900-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.