Daktronics to Appoint Peter Feigin to the Board
Daktronics Confirms Its Commitment to An Investor Day in 2025
Alta Fox to Withdraw Litigation and Support Reincorporation to Delaware
BROOKINGS, S.D., March 03, 2025 (GLOBE NEWSWIRE) — Daktronics, Inc. (“Daktronics,” the “Company,” “we,” or “us”) (NASDAQ-DAKT), the leading U.S.-based designer and manufacturer of best-in-class dynamic video communication displays and control systems for customers worldwide, today announced it has entered into a cooperation agreement (the “Cooperation Agreement”) with Alta Fox Capital Management, LLC (collectively with certain of its affiliates, “Alta Fox”), which is the Company’s largest shareholder.
Pursuant to the Cooperation Agreement, the Company will appoint Peter Feigin, an Alta Fox-recommended candidate, as a new independent member of its Board of Directors (the “Board”). Mr. Feigin will immediately join the Board’s Transformation Committee. He currently serves as the President of Milwaukee Bucks Inc. (the “Bucks”) and the Fiserv Forum sports arena, brings more than 25 years of sales and marketing experience, including as Chief Marketing and Revenue Officer of Deluxe Entertainment Services Group, an international entertainment company.
Daktronics has also confirmed that it will host an Investor Day in 2025 to provide shareholders with greater insight into the Company’s strategy, financial targets and outlook, and capital allocation framework. In addition, Daktronics will solicit input from Alta Fox on its search for a new Chief Financial Officer.
As part of the Cooperation Agreement, Alta Fox has agreed to withdraw all litigation against the Company with prejudice, support the Company’s reincorporation to Delaware, and adhere to customary standstill restrictions and voting commitments through the Company’s 2027 annual meeting of shareholders.
“The addition of Peter Feigin to the Board will bolster the Company’s efforts to drive long-term value,” said Reece Kurtenbach, Daktronics Chairman, President, and Chief Executive Officer. “We welcome him and look forward to working together.”
Connor Haley, Managing Partner of Alta Fox, added, “It is a win for all of Daktronics’ shareholders and stakeholders to have Peter, a well-known sports and entertainment industry leader, join the Company’s Board. Together with leadership’s governance enhancements and investor relations commitments, his appointment positions Daktronics for long-term success. We are pleased to move forward in a constructive manner and work with the Board and management to enhance value for shareholders.”
A copy of the Cooperation Agreement will be included as an exhibit to the Company’s Current Report on Form 8-K, which will be filed with the U.S. Securities and Exchange Commission (the “SEC”).
About Peter Feigin
Peter Feigin currently serves as the President of the Milwaukee Bucks, an American professional basketball team that won the NBA Championship in 2021, and Fiserv Forum, the Bucks’ arena. Prior to joining the Bucks, Mr. Feigin served as the Chief Marketing and Revenue Officer of Deluxe Entertainment Services Group, a major international entertainment company, from May 2013 to October 2014. Prior to that, Mr. Feigin was the President of Marquis Jet Partners Inc., a leading private aviation company from 2010 to 2011. From 1998 to 2004, Mr. Feigin worked for the New York Knicks in a variety of roles, culminating in a position as the Vice President of Marketing of Madison Square Garden Sports Corp. From 1993 to 1998, he held various sales and marketing positions, including Director of Marketing and Promotions, with Six Flags Theme Parks Inc., which was then a Time Warner company. Mr. Feigin received his B.A. from Franklin & Marshall College.
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