DAKT Form 4: VP Kurtenbach reports 25,211-share gift; total 310,102.7 shares
Rhea-AI Filing Summary
Matthew J. Kurtenbach, VP of Manufacturing at Daktronics, reported receipt of 25,211 shares of Daktronics common stock as a gift on 08/21/2025. The Form 4 shows the shares were received at a $0 price from a grantor retained annuity trust and increased his reported beneficial ownership to 310,102.7 shares. The filing also discloses 5,000 shares held indirectly by a trust for the benefit of his child and 21,000 shares held in three UTMA custodial accounts for his children, where he serves as trustee/custodian. The filing includes a legal disclaimer that he disclaims beneficial ownership except to the extent of any pecuniary interest.
Positive
- Reported increase of 25,211 shares received as a gift, raising reported beneficial ownership to 310,102.7 shares
- Clear disclosure of indirect holdings: 5,000 shares held by a trust and 21,000 shares in three UTMA custodial accounts
Negative
- None.
Insights
TL;DR: Insider received a material gift of 25,211 shares, modestly increasing reported stake; transaction is non-cash and disclosed under Section 16.
The Form 4 documents a non-cash acquisition of 25,211 shares via a grantor retained annuity trust, increasing reported beneficial ownership to 310,102.7 shares. This is a clear change in reported holdings but does not show an open-market purchase or sale. For investors, the transaction signals a transfer into the reporting person's ownership registry but provides no cash price signal or trading intent.
TL;DR: Disclosure is standard for transfers to trusts and UTMA accounts; the reporting person disclaims broader beneficial ownership.
The filing appropriately identifies indirect holdings (5,000 shares in a trust and 21,000 shares in UTMA accounts) and states the Reporting Person's disclaimer of beneficial ownership except for pecuniary interest. The document follows Form 4 disclosure conventions for gifts and custodial accounts and includes the required explanatory notes.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Common Stock | 25,211 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Gift received from grantor retained annuity trust. 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. 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. 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.
