Director Kurtenbach Reece A exercised 111,965 shares at a strike of $6.59 and returned $1,418,597 worth of shares to the company (111,965 units at $12.67) (SEC Form 4)
$DAKT
Miscellaneous manufacturing industries
Consumer Discretionary
| FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
| Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10. | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
DAKTRONICS INC /SD/ [ DAKT ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 03/21/2025 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Common Stock | 03/21/2025 | M | 9,000 | A | $9.57 | 539,267 | D | |||
| Common Stock | 03/21/2025 | M | 6,000 | A | $9.57 | 545,267 | D | |||
| Common Stock | 03/21/2025 | M | 9,605 | A | $9.63 | 554,872 | D | |||
| Common Stock | 03/21/2025 | M | 5,395 | A | $9.63 | 560,267 | D | |||
| Common Stock | 03/21/2025 | M | 10,254 | A | $7.83 | 570,521 | D | |||
| Common Stock | 03/21/2025 | M | 3,246 | A | $7.83 | 573,767 | D | |||
| Common Stock | 03/21/2025 | M | 10,800 | A | $7.47 | 584,567 | D | |||
| Common Stock | 03/21/2025 | M | 2,700 | A | $7.47 | 587,267 | D | |||
| Common Stock | 03/21/2025 | M | 21,865 | A | $4.11 | 609,132 | D | |||
| Common Stock | 03/21/2025 | M | 5,135 | A | $4.11 | 614,267 | D | |||
| Common Stock | 03/21/2025 | M | 9,443 | A | $5.66 | 623,710 | D | |||
| Common Stock | 03/21/2025 | M | 1,357 | A | $5.66 | 625,067 | D | |||
| Common Stock | 03/21/2025 | M | 8,100 | A | $3.02 | 633,167 | D | |||
| Common Stock | 03/21/2025 | M | 6,399 | A | $3.02 | 639,566 | D | |||
| Common Stock | 03/21/2025 | M | 1,830 | A | $9.85 | 641,396 | D | |||
| Common Stock | 03/21/2025 | M | 836 | A | $11.87 | 642,232 | D | |||
| Common Stock | 03/21/2025 | D | 111,965 | D | $12.67(1) | 530,267 | D | |||
| Common Stock | 17,400 | I | By Spouse | |||||||
| Common Stock | 33,479(2) | I | by 401(k) | |||||||
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Incentive Stock Option | $9.57 | 03/21/2025 | M | 9,000 | (3) | 09/01/2026 | Common Stock | 9,000 | $0 | 0 | D | ||||
| Non-Qualified Stock Option | $9.57 | 03/21/2025 | M | 6,000 | (4) | 09/01/2026 | Common Stock | 6,000 | $0 | 0 | D | ||||
| Incentive Stock Option | $9.63 | 03/21/2025 | M | 9,605 | (5) | 08/31/2027 | Common Stock | 9,605 | $0 | 0 | D | ||||
| Non-Qualified Stock Option | $9.63 | 03/21/2025 | M | 5,395 | (6) | 08/31/2027 | Common Stock | 5,395 | $0 | 0 | D | ||||
| Incentive Stock Option | $7.83 | 03/21/2025 | M | 10,254 | (7) | 09/06/2028 | Common Stock | 10,254 | $0 | 0 | D | ||||
| Non-Qualified Stock Option | $7.83 | 03/21/2025 | M | 3,246 | (8) | 09/06/2028 | Common Stock | 3,246 | $0 | 0 | D | ||||
| Incentive Stock Option | $7.47 | 03/21/2025 | M | 10,800 | (9) | 09/05/2029 | Common Stock | 10,800 | $0 | 0 | D | ||||
| Non-Qualified Stock Option | $7.47 | 03/21/2025 | M | 2,700 | (10) | 09/05/2029 | Common Stock | 2,700 | $0 | 0 | D | ||||
| Incentive Stock Option | $4.11 | 03/21/2025 | M | 21,865 | (11) | 09/03/2030 | Common Stock | 21,865 | $0 | 0 | D | ||||
| Non-Qualified Stock Option | $4.11 | 03/21/2025 | M | 5,135 | (12) | 09/03/2030 | Common Stock | 5,135 | $0 | 0 | D | ||||
| Incentive Stock Option | $5.66 | 03/21/2025 | M | 9,443 | (13) | 09/02/2031 | Common Stock | 9,443 | $0 | 0 | D | ||||
| Non-Qualified Stock Option | $5.66 | 03/21/2025 | M | 1,357 | (14) | 09/02/2031 | Common Stock | 1,357 | $0 | 0 | D | ||||
| Incentive Stock Option | $3.02 | 03/21/2025 | M | 8,100 | (15) | 09/08/2032 | Common Stock | 8,100 | $0 | 0 | D | ||||
| Incentive Stock Option | $3.02 | 03/21/2025 | M | 6,399 | (15) | 09/08/2032 | Common Stock | 6,399 | $0 | 0 | D | ||||
| Incentive Stock Options | $9.85 | 03/21/2025 | M | 1,830 | (16) | 09/10/2033 | Common Stock | 1,830 | $0 | 0 | D | ||||
| Incentive Stock Option | $11.87 | 03/21/2025 | M | 836 | (17) | 09/09/2034 | Common Stock | 836 | $0 | 0 | D | ||||
| Explanation of Responses: |
| 1. Shares were exercised for cash. The per share price was closing price on March 20, 2025. |
| 2. Between January 5, 2025 and March 21, 2025, the Reporting Person disposed of 4 shares of common stock of Daktronics, Inc. (the "Issuer") under the Issuer's 401(k) Plan. The information in this Report is based on a plan statement dated as of March 21, 2025. |
| 3. Incentive Stock Options (the "ISOs") vest 20% each year for a total of five years - vesting schedule 08/23/2017, 08/23/2018, 08/23/2019, 08/23/2020, 08/23/2021. |
| 4. Non-Qualified Stock Options (the "NQs") vest 20% each year for a total of five years - vesting schedule 08/23/2017, 08/23/2018, 08/23/2019, 08/23/2020, 08/23/2021. |
| 5. ISOs vest 20% each year for a total of five years - vesting schedule 08/23/2018, 08/23/2019, 08/23/2020, 08/23/2021, 08/23/2022. |
| 6. NQs vest 20% each year for a total of five years - vesting schedule 08/23/2018, 08/23/2019, 08/23/2020, 08/23/2021, 08/23/2022. |
| 7. ISOs vest 20% each year for a total of five years - vesting schedule 08/23/2019, 08/23/2020, 08/23/2021, 08/23/2022, 08/23/2023. |
| 8. NQs vest 20% each year for a total of five years - vesting schedule 08/23/2019, 08/23/2020, 08/23/2021, 08/23/2022, 08/23/2023. |
| 9. ISOs vest 20% each year for a total of five years - vesting schedule 08/23/2020, 08/23/2021, 08/23/2022, 08/23/2023, 08/23/2024. |
| 10. NQs vest 20% each year for a total of five years - vesting schedule 08/23/2020, 08/23/2021, 08/23/2022, 08/23/2023, 08/23/2024. |
| 11. ISOs vest 20% each year for a total of five years - vesting schedule 08/23/2021, 08/23/2022, 08/23/2023, 08/23/2024, 08/23/2025. Pursuant to the Separation and Release Agreement (the "Separation Agreement") entered into by and between Daktronics, Inc. and Reece Kurtenbach on 03/05/2025 (such date, the "Separation Date"), the vesting of ISOs granted as of 09/03/2020 was accelerated such that the ISOs that would have vested on 08/23/2025 vested as of the Separation Date. |
| 12. NQs vest 20% each year for a total of five years - vesting schedule 08/23/2021, 08/23/2022, 08/23/2023, 08/23/2024, 08/23/2025. Pursuant to the Separation Agreement, the vesting of NQs granted as of 09/03/2020 was accelerated such that the NQs that would have vested on 08/23/2025 vested as of the Separation Date. |
| 13. ISOs vest 20% each year for a total of five years - vesting schedule 08/23/2022, 08/23/2023, 08/23/2024, 08/23/2025, 08/23/2026. Pursuant to the Separation Agreement, the vesting of ISOs granted as of 09/02/2021 was accelerated such that the ISOs that would have vested on 08/23/2025 vested as of the Separation Date and the remaining ISOs subject to such options were forfeited. |
| 14. NQs vest 20% each year for a total of five years - vesting schedule 08/23/2022; 08/23/2023; 08/23/2024; 08/23/2025; 08/23/2026. Pursuant to the Separation Agreement, the vesting of NQs granted as of 09/02/2021 was accelerated such that the NQs that would have vested on 08/23/2025 vested as of the Separation Date and the remaining NQs subject to such options were forfeited. |
| 15. ISOs vest 20% each year for a total of five years - vesting schedule 08/23/2023, 08/23/2024, 08/23/2025, 08/23/2026, 08/23/2027. Pursuant to the Separation Agreement, the vesting of ISOs granted as of 09/08/2022 was accelerated such that the ISOs that would have vested on 08/23/2025 vested as of the Separation Date and the remaining ISOs subject to such options were forfeited. |
| 16. ISOs vest 20% each year for a total of five years - vesting schedule 08/23/2024, 08/23/2025, 08/23/2026, 08/23/2027, 08/23/2028. Pursuant to the Separation Agreement, the vesting of ISOs granted as of 09/11/2023 was accelerated such that the ISOs that would have vested on 08/23/2025 vested as of the Separation Date and the remaining ISOs subject to such options were forfeited. |
| 17. ISOs vest 20% each year for a total of five years - vesting schedule 08/23/2025, 08/23/2026, 08/23/2027, 08/23/2028, 08/23/2029. Pursuant to the Separation Agreement, the vesting of ISOs granted as of 09/09/2024 was accelerated such that the ISOs that would have vested on 08/23/2025 vested as of the Separation Date and the remaining ISOs subject to such options were forfeited. |
| Remarks: |
| Reece A. Kurtenbach | 03/25/2025 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||