false 0000915779 0000915779 2021-12-02 2021-12-02 0000915779 dakt:CommonStockNoParValueCustomMember 2021-12-02 2021-12-02 0000915779 dakt:PreferredStockPurchaseRightsCustomMember 2021-12-02 2021-12-02

 

 

 

 

 

 

 

Date of Report (Date of earliest event reported): December 2, 2021

 

 

 

(Exact Name of Registrant as Specified in Charter)

 

 

 

(Address of Principal Executive Offices, and Zip Code)

 

(Registrant's Telephone Number, Including Area Code)

 

(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:

 

 

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. ☐

 

 

 

Item 7.01     Regulation FD Dislcosure

 

On December 2, 2021, the Board of Directors of Daktronics, Inc. (the “Company”) voted to reauthorize the stock buyback program under which the Company may repurchase up to $40 million of its outstanding shares of common stock.  In April 2020, the Board had suspended the program. As of December 2, 2021, approximately $32 million remained available under the program for the repurchase of shares. 

 

Shares may be repurchased from time to time in open market purchases, private transactions or other transactions.  The timing, volume and nature of share repurchases will be at the sole discretion of management and will be dependent on market conditions, applicable securities laws and other factors, and may be suspended or discontinued at any time.  Under the stock repurchase program, the Company may repurchase shares in open-market purchases in accordance with all applicable securities laws and regulations, including Rule 10b-18 under the Securities Exchange Act of 1934, as amended.  No assurance can be given that any particular number of shares of common stock will be repurchased.

 

 

 

 

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.