Bakkt Holdings, Inc. announced an equity inducement grant to Akshay Naheta, its newly appointed Co-Chief Executive Officer, effective March 21, 2025. The grant was made as a material inducement for Mr. Naheta to accept his new role.
The inducement consisted of 1,607,717 Performance-Based Restricted Stock Units (PSUs) and 11,426 Restricted Stock Units (RSUs). The RSUs will vest 100% on March 21, 2026, contingent on Mr. Naheta's continued service with Bakkt.
The PSUs are eligible to vest through March 21, 2028, based on stock price appreciation. One-third of the PSUs will vest if Bakkt’s stock price appreciates 100% above $9.33, with additional vesting tranches for further 25% appreciation, up to a maximum of eight tranches.
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