UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of
Report (Date of earliest event reported): March 8, 2010
Daktronics,
Inc.
(Exact
name of registrant as specified in its charter)
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South
Dakota
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0-23246
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46-0306862
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(State
or other jurisdiction
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(Commission
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(I.R.S.
Employer
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Incorporation
or organization)
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File
Number)
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Identification
Number)
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201
Daktronics Drive
Brookings,
SD 57006
(Address
of principal executive office) (zip code)
(605)
692-0200
(Registrant’s
telephone number, including area code)
Not
Applicable
(Former
name or former address, if changed since last report.)
SECTION
8 – OTHER EVENTS
Section
8.01 Other Events
James B.
Morgan, Chief Executive Officer and a Director of Daktronics, Inc. (the
“Company), has entered into a Rule 10b5-1 trading plan to sell up to a total of
50,000 shares of the Company’s common stock. Portions of the shares
may be sold at any time the stock achieves certain prearranged minimum prices
and sales may take place beginning on March 9, 2010 and ending on August 27,
2010 unless the plan is terminated sooner. The amount of shares sold
on a single day is limited to a maximum of 10,000 shares. Mr.
Morgan will not have any control over the timing of any sales under the plan and
there can be no assurance that the shares covered by the plan actually will be
sold. Mr. Morgan entered into the plan in order to diversify his
financial holdings and will continue to have a significant ownership interest in
the Company because these shares represent less than 4% of all shares
beneficially owned by him. As such, these shares are not significant
to his total interest in the Company.
This
trading plan is intended to comply with Rule 10b5-1 of the Securities Exchange
Act of 1934, as amended, and the Company’s insider trading
policy. Rule 10b5-1 allows corporate insiders to establish
prearranged written plans to buy or sell a specified number of shares of a
company’s stock over a set period of time. A plan must be entered
into in good faith at a time when the insider is not in possession of material,
nonpublic information. Subsequent receipt by the insider of material,
nonpublic information will not prevent transactions under the plan from being
executed.
SIGNATURE
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.
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DAKTRONICS,
INC.
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By: /s/ William R.
Retterath
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William
R. Retterath, Chief Financial Officer
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Date: March
8, 2010
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