4/A: Daktronics Executive Corrects Stock Option Exercise Price in Amended SEC Filing
SEC Filing (Form 4/A)
Reece A. Kurtenbach, Chairman, President, and CEO of Daktronics, files an amendment to a previous SEC Form 4 to correct the exercise price of incentive stock options granted on September 9, 2024.
Summary
- Reece A. Kurtenbach, Chairman, President, and CEO of Daktronics Inc., filed an amended Form 4 with the SEC on September 19, 2024.
- This amendment corrects the exercise price of incentive stock options (ISOs) awarded to Kurtenbach on September 9, 2024.
- The original Form 4, filed on September 11, 2024, inadvertently misstated the exercise price.
- The corrected exercise price for the 4,180 ISOs is $11.87.
- The ISOs vest in five annual installments of 20% each, starting on August 23, 2025, and continuing until August 23, 2029.
- Following the reported transaction, Kurtenbach beneficially owns 145,418 shares of Daktronics common stock directly.
Sentiment
Score: 7
Explanation: The document is a routine correction of a previously filed form, indicating standard corporate governance practices. The correction itself doesn't suggest any positive or negative outlook, but the transparency is generally viewed favorably.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency to investors regarding the holdings and potential incentives of key executives.
Stakeholder Impact
- The correction of the stock option exercise price ensures accurate information is available to shareholders regarding executive compensation.
Key Dates
| Date | Description |
|---|---|
| 09/09/2024 | Date of the original transaction (grant of incentive stock options). |
| 09/11/2024 | Date of the original Form 4 filing. |
| 09/19/2024 | Date of the amended Form 4/A filing. |
| 08/23/2025 | First vesting date for the incentive stock options (20%). |
| 08/23/2026 | Second vesting date for the incentive stock options (20%). |
| 08/23/2027 | Third vesting date for the incentive stock options (20%). |
| 08/23/2028 | Fourth vesting date for the incentive stock options (20%). |
| 08/23/2029 | Fifth vesting date for the incentive stock options (20%). |
| 09/08/2034 | Expiration date of the incentive stock options. |
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