Kurtenbach Matthew John 4
4 · DAKTRONICS INC /SD/ · Filed Mar 9, 2026
Research Summary
AI-generated summary of this filing
Daktronics VP Matthew Kurtenbach Exercises Options, Sells 1,365 Shares
What Happened
Matthew John Kurtenbach, VP of Manufacturing at Daktronics (DAKT), had 4,606 restricted stock units/derivatives convert to common shares on March 5, 2026. To cover the tax withholding on the vesting, 1,365 shares were withheld/disposed at $22.99 per share, generating about $31,381. The filing lists the conversion/exercise of 4,606 derivative units (acquired) and a corresponding withholding disposition.
Key Details
- Transaction date: March 5, 2026; Form 4 filed March 9, 2026 (filed within SEC timing requirements).
- Vesting/conversion: 4,606 shares reported as acquired via exercise/conversion (code M).
- Tax withholding/disposition: 1,365 shares disposed at $22.99 each for ~$31,381 (code F).
- Shares owned after transaction: not specified in the filing.
- Footnotes of note:
- F4: These were Restricted Stock Units that vest in three equal annual installments beginning March 5, 2025 (vested installment delivered as soon as practicable).
- F1–F3: Reporting person disclaims beneficial ownership except for pecuniary interest; some shares may be held in a trust or UTMA accounts for his children.
Context
This appears to be a routine RSU vesting with cashless tax withholding rather than an open-market sell or new cash purchase. Such withholding to satisfy taxes is common and not necessarily a bearish signal about the company.
Insider Transaction Report
- Exercise/Conversion
Common Stock
2026-03-05+4,606→ 339,870.7 total - Tax Payment
Common Stock
2026-03-05$22.99/sh−1,365$31,381→ 338,505.7 total - Exercise/Conversion
Restricted Stock Units
[F4]2026-03-05−4,606→ 21,656 totalExercise: $0.00→ Common Stock (4,606 underlying)
- 5,000(indirect: By Trust)
Common Stock
[F1][F2] - 21,000(indirect: As custodian for UTMA Accounts for minors)
Common Stock
[F1][F3]
Footnotes (4)
- [F1]For purposes of Section 16 of the Securities Exchange Act of 1934, as amended ("Section 16"), the Reporting Person disclaims beneficial ownership of any securities reported in this filing, except to the extent of his pecuniary interest therein, if any, and this Amendment shall not be deemed an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or otherwise.
- [F2]As a trustee of a trust formed for the benefit of a child of the Reporting Person (the "Trust"), the Reporting Person may be deemed to exercise voting and investment power over the shares of common stock of Daktronics, Inc. ("Common Stock") held by the Trust.
- [F3]Represents securities held in 3 separate custodial accounts under the Uniform Transfers to Minors Act (the "UTMA"). The Reporting Person is the custodian of the UTMA accounts held for the benefit of his children.
- [F4]The Restricted Stock Units vest in three substantially equal installments on the first, second, and third anniversaries of March 5, 2025. In addition, the Restricted Stock Units shall become 100% vested upon a Change in Control Termination (as defined in the Daktronics, Inc. 2020 Stock Incentive Plan). Vested shares will be delivered to the reporting person as soon as practicable after the date of vesting.