UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
| (Check one): | ☐ Form 10-K | ☐ Form 20-F | X Form 11-K | ☐ Form 10-Q | ☐ Form 10-D | ||||||||||||
☐ Form N-SAR | ☐ Form N-CSR | ||||||||||||||||
| For Period Ended: April 30, 2022 | |||||||||||||||||
☐ Transition Report on Form 10-K | |||||||||||||||||
☐ Transition Report on Form 20-F | |||||||||||||||||
☐ Transition Report on Form 11-K | |||||||||||||||||
☐ Transition Report on Form 10-Q | |||||||||||||||||
☐ Transition Report on Form N-SAR | |||||||||||||||||
| For the Transition Period Ended: ____________________ | |||||||||||||||||
Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.
If the notification relates to a portion of the filing checked above, identify the item(s) to which the notification relates:
PART I -- REGISTRANT INFORMATION
Daktronics, Inc. 401(k) Plan
Full Name of Registrant
Former Name if Applicable
201 Daktronics Drive
Address of Principal Executive Office (Street and Number)
Brookings, SD 57006
City, State and Zip Code
PART II -- RULE 12b-25(b) AND (c)
If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25 (b), the following should be completed. (Check box if appropriate)
| (a) | The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense; | |||||||
| X | (b) | The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and | ||||||
| (c) | The accountant's statement or other exhibit required by Rule 12b-25(c) has been attached if applicable. | |||||||
PART III -- NARRATIVE
State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.
The Daktronics, Inc. 401(k) Plan is not filing by the prescribed due date its Form 11-K for the period ending April 30, 2022 (the “Form 11-K”).
In mid May 2021, our 401(k) Plan completed the process of migration of the Plan from the recordkeeping platform of Wells Fargo Bank, N.A. to the recordkeeping platform of Principal Financial Group. The migration records are complex and in process of review for accuracy. Therefore, Deloitte & Touche LLP has not completed the audit of the 401(k) Plan as of the filing of the Form 12B-25. Daktronics, Inc. and Principal Financial Group have been working with Deloitte & Touche LLP rigorously on the completion of the audit of the 401(k) Plan and the filing of the 11-K. As soon Deloitte & Touche LLP has completed their audit and issued their opinion and consent, Daktronics, Inc. will be in the position to file its Form 11-K.
PART IV -- OTHER INFORMATION
| (1) | Name and telephone number of person to contact in regard to this notification | ||||
| Sheila M. Anderson | 605 | 692-0200 EXT 56214 | ||||||
| (Name) | (Area Code) | (Telephone Number) | ||||||
(2) | Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s). | ||||
☒ Yes ☐ No | |||||
| Form 10-K Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2014, Form 10-Q Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended March 31, 2015 and Form 11-K Annual Report Pursuant to Section 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2014. | |||||
| (3) | Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof? | ||||
☐ Yes ☒ No | |||||
If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.
________Daktronics, Inc. 401(k) Plan______
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned thereunto duly authorized.
| Date: October 27, 2022 | By: | /s/ Sheila M. Anderson | |||||||||
| Name: Sheila M. Anderson | |||||||||||
| Title: Chief Financial Officer | |||||||||||
ATTENTION
Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001).