Daktronics and Alta Fox Enter into Cooperation Agreement

Core Points - Daktronics has entered into a cooperation agreement with its largest shareholder, Alta Fox Capital Management, to enhance governance and shareholder value [1][4] - Peter Feigin, recommended by Alta Fox, will be appointed as a new independent member of the Board of Directors and will join the Transformation Committee [2][5] - The company has confirmed it will host an Investor Day in 2025 to provide insights into its strategy, financial targets, and capital allocation framework [3] - Alta Fox has agreed to withdraw all litigation against Daktronics and support its reincorporation to Delaware [4] Company Overview - Daktronics is a leading U.S.-based designer and manufacturer of dynamic video communication displays and control systems, recognized as the world's largest supplier of large-screen video displays and related technologies [1][7] - The company operates in various business units, including Live Events, Commercial, High School Park and Recreation, and Transportation, as well as an International business unit [7][8] Leadership and Governance - The addition of Peter Feigin is expected to bolster Daktronics' efforts to drive long-term value, as stated by the company's Chairman and CEO [5] - Feigin brings over 25 years of sales and marketing experience, having held significant positions in the sports and entertainment industry [6]