Consulting fees cut as Daktronics (NASDAQ: DAKT) extends ex-officer role
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Daktronics, Inc. reported that its board approved a First Amendment to a Consulting Agreement with former named executive officer Carla Gatzke, effective as of May 1, 2026. The amendment extends her consulting term through August 28, 2026, with services limited to project-specific advisory work requested by the company. During this extended term, her monthly consulting fee will be $7,500, compared with the original $30,000 per month that applied through April 30, 2026. All other terms of the original Consulting Agreement remain in effect, and the full amendment is filed as an exhibit.
Positive
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Negative
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8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Original monthly consulting fee: $30,000 per month
Amended monthly consulting fee: $7,500 per month
Extended consulting term end date: August 28, 2026
+1 more
4 metrics
Original monthly consulting fee
$30,000 per month
Under initial Consulting Agreement through April 30, 2026
Amended monthly consulting fee
$7,500 per month
During Extended Term after May 1, 2026
Extended consulting term end date
August 28, 2026
End of Extended Term unless terminated earlier
Effective date of amendment
May 1, 2026
First Amendment to Consulting Agreement effective date
Key Terms
Consulting Agreement, First Amendment to the Consulting Agreement, Extended Term, project-specific advisory services
4 terms
Consulting Agreement financial
"Daktronics, Inc. entered into a Consulting Agreement with Carla Gatzke"
First Amendment to the Consulting Agreement financial
"authorized the Company to enter into a First Amendment to the Consulting Agreement"
Extended Term financial
"the term of the Consulting Agreement was extended through August 28, 2026 (the “Extended Term”)"
project-specific advisory services financial
"services during the Extended Term shall be limited to project-specific advisory services"
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 18, 2026
(Exact Name of Registrant as Specified in Charter)
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||
(Address of Principal Executive Offices, and Zip Code)
(605 ) 692-0200
(Registrant's Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Section 5 - Corporate Governance and Management
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) As previously disclosed, Daktronics, Inc. (the “Company”) entered into a Consulting Agreement (the “Consulting Agreement”) with Carla Gatzke, a former named executive officer of the Company, pursuant to which Ms. Gatzke agreed to provide transition services to the Company in exchange for a monthly consulting fee of $30,000 through April 30, 2026. On May 18, 2026, the Board of Directors of the Company authorized the Company to enter into a First Amendment to the Consulting Agreement to extend the Consulting Agreement with a reduced scope and subject to certain revised terms (the “Consulting Agreement Amendment”) effective as of May 1, 2026. The material terms of the Consulting Agreement Amendment include the following: (i) the term of the Consulting Agreement was extended through August 28, 2026 (the “Extended Term”) unless earlier terminated in accordance with the terms of the agreement, (ii) services during the Extended Term shall be limited to project-specific advisory services at the request of the Company, and (iii) the Consultant will receive a monthly consulting fee of $7,500 during the Extended Term.
Except as expressly amended by the Consulting Agreement Amendment, all other terms and conditions of the Consulting Agreement remain in full force and effect.
The foregoing description of the material terms of the Consulting Agreement Amendment in this Report does not purport to be complete and is qualified in its entirety by reference to the full text of the Consulting Agreement Amendment, a copy of which is filed as Exhibit 10.1 to this Report and is incorporated herein by reference.
Section 9 - Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. | Description | ||||
10.1 | First Amendment to Consulting Agreement, effective as of May 1, 2026, by and between Carla Gatzke and Daktronics, Inc. | ||||
104 | Cover page Interactive Data File (embedded within the Inline XBRL document). | ||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
DAKTRONICS, INC. | ||||||||
By: /s/ Howard I. Atkins | ||||||||
Howard I. Atkins | ||||||||
Acting Chief Financial Officer (Principal Financial Officer and Principal Accounting Officer) | ||||||||
Date: May 21, 2026 | ||||||||
FAQ
What did Daktronics (DAKT) change in Carla Gatzke’s consulting agreement?
Daktronics approved a First Amendment to Carla Gatzke’s Consulting Agreement. It extends her work through August 28, 2026, narrows services to project-specific advisory tasks, and reduces the monthly consulting fee from $30,000 to $7,500 during the extended term.
How long will Carla Gatzke’s consulting role with Daktronics (DAKT) now last?
The amended Consulting Agreement extends Carla Gatzke’s role through August 28, 2026. Previously, her consulting services were scheduled to run through April 30, 2026, so the amendment adds nearly four additional months under revised scope and compensation terms.
How much will Daktronics (DAKT) pay Carla Gatzke under the amended agreement?
During the extended term, Daktronics will pay Carla Gatzke a monthly consulting fee of $7,500. This is a reduction from the original Consulting Agreement, which provided for a $30,000 monthly consulting fee through April 30, 2026.
What type of work will Carla Gatzke perform for Daktronics (DAKT) going forward?
Under the amended agreement, Carla Gatzke’s services are limited to project-specific advisory services at the request of Daktronics. This means she will no longer provide broad transition support, but will instead be engaged selectively for targeted advisory projects.
Where can investors find the full text of Daktronics’ amended consulting agreement?
The full text of the First Amendment to the Consulting Agreement is filed as Exhibit 10.1. It is attached to the company’s current report and incorporated by reference, providing complete legal terms beyond the summarized material provisions.