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Daktronics , Inc. (NASDAQ:DAKT), a $790 million market cap company currently rated as fairly valued according to InvestingPro analysis, announced several changes to its executive team and compensation programs, according to a press release statement disclosed in a recent SEC filing. The company maintains a "GOOD" overall financial health score, with particularly strong performance in price momentum and cash flow metrics.
On Monday, the Board of Directors determined that Sheila M. Anderson, Chief Data and Analytics Officer, will no longer serve as the company’s principal accounting officer. The company stated that this change was not due to any disagreement with Anderson regarding company operations, policies, or practices. Anderson will continue in her current role as Chief Data and Analytics Officer.
Howard I. Atkins, who currently serves as Acting Chief Financial Officer and Chief Transformation Officer and holds the designation of principal financial officer, has been appointed as the new principal accounting officer, effective immediately. Atkins will not receive additional compensation for this expanded role.
The Board also approved a new form of performance-based restricted stock unit agreement for the company’s 2026 fiscal year executive compensation program. Under this plan, covered named executive officers—Sheila M. Anderson, Carla S. Gatzke, and Matthew J. Kurtenbach—will receive performance stock units (PSUs) and restricted stock units (RSUs) pursuant to the 2020 Daktronics, Inc. Stock Incentive Plan.
The PSUs will vest based on the company’s achievement of specified profit and revenue growth targets over a three-year period, with performance goals weighted 60% on profit growth and 40% on revenue growth. The number of PSUs that vest can range from 25% to 150% of the target amount, depending on performance. RSUs will vest pro rata over four years, subject to continued service.
The grant date fair values for the awards, effective July 28, 2025, are as follows:
- Sheila M. Anderson: $129,375 in RSUs and $43,125 in PSUs
- Matthew J. Kurtenbach: $131,250 in RSUs and $43,750 in PSUs
- Carla S. Gatzke: $116,250 in RSUs and $38,750 in PSUs
Additionally, on Friday, the company entered into a termination agreement with Interim President and CEO Brad T. Wiemann. Under the agreement, Wiemann will continue as Interim CEO until a new CEO is appointed, then serve as an advisor through the transition period or until January 1, 2026, whichever is later. Upon retirement or qualifying termination, Wiemann will receive severance benefits, including accelerated vesting and cash settlement of a prior restricted stock unit grant, a cash payment to ensure at least $300,000 in total, and benefit continuation payments. Looking ahead, analysts project positive earnings for fiscal year 2026, with an EPS forecast of $0.98 and revenue growth of 8%. The company’s stock has shown strong momentum, with analyst price targets ranging from $22 to $24 per share. Access the complete Pro Research Report and detailed financial analysis through an InvestingPro subscription.
All information is based on the company’s recent filing with the Securities and Exchange Commission.
In other recent news, Daktronics Inc. reported its earnings for the fourth quarter of fiscal year 2025, which fell short of analysts’ expectations. The company announced an earnings per share (EPS) of -$0.19, which was significantly below the forecasted $0.15, resulting in a negative surprise of 226.67%. Revenue for the quarter came in at $172.6 million, missing the anticipated $193.97 million and marking an 11.02% shortfall. These results represent a notable development for investors tracking Daktronics. There was no information provided about any mergers or acquisitions involving the company. Additionally, there were no updates on analyst upgrades or downgrades from firms regarding Daktronics. The earnings report highlights the challenges faced by the company in meeting market expectations.
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