secwatch.observer — SEC 8-K summary
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Issuer:     Bakkt, Inc. (BKKT)
CIK:        0001820302
Form:       8-K
Filed at:   2025-03-20T23:59:59+00:00
Accession:  0001628280-25-013900
Event type: other_material
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1820302/000162828025013900/0001628280-25-013900-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1820302/000162828025013900/bakkt-20250319.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-013900

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