4/A: Daktronics VP of Manufacturing Corrects Stock Transaction Details in Amended SEC Filing
SEC Form 4/A Filing
Daktronics' VP of Manufacturing, Matthew John Kurtenbach, filed an amended SEC Form 4/A to correct the selling price of shares previously reported on December 13, 2024.
Summary
- Matthew John Kurtenbach, VP of Manufacturing at Daktronics, filed an amended SEC Form 4/A to correct a previously reported stock transaction.
- The amendment corrects the selling price of 7,707 shares of common stock sold on December 11, 2024, which was initially misstated in a Form 4 filed on December 13, 2024.
- The corrected selling price is $18.6741 per share.
- The filing also details the acquisition of shares through the exercise of incentive stock options at various prices, ranging from $3.02 to $9.85.
- These options vest over five years, with different vesting schedules for each grant.
Sentiment
Score: 7
Explanation: The document is a routine correction of a previous filing, indicating no significant positive or negative sentiment. It is a necessary compliance action.
Industry Context
This type of filing is standard for company insiders who trade their company's stock, ensuring transparency and compliance with SEC regulations.
Comparison to Industry Standards
- Form 4 filings are a common practice for publicly traded companies in the US, such as Daktronics, and are used to report changes in beneficial ownership by company insiders.
- The level of detail provided in this filing is consistent with SEC requirements, similar to filings made by executives at companies like Apple, Microsoft, and Google.
- The vesting schedules for incentive stock options are also typical, often spanning several years to align employee interests with long-term company performance.
Stakeholder Impact
- The correction ensures accurate information is available to shareholders and the market.
- The filing provides transparency regarding insider transactions, which is important for investor confidence.
Key Dates
| Date | Description |
|---|---|
| 09/05/2020 | Start of vesting schedule for some incentive stock options. |
| 08/23/2021 | Start of vesting schedule for some incentive stock options. |
| 08/23/2022 | Start of vesting schedule for some incentive stock options. |
| 08/23/2023 | Start of vesting schedule for some incentive stock options. |
| 12/11/2024 | Date of the stock transactions and option exercises. |
| 12/13/2024 | Date of the original Form 4 filing that contained the error. |
| 12/16/2024 | Date of the amended Form 4/A filing. |
Keywords
SEC Filing, Form 4, Form 4/A, Daktronics, Stock Transaction, Incentive Stock Options, Beneficial Ownership, Matthew John Kurtenbach
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