Anchor Capital Supports Governance Enhancements at Daktronics

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01/27/2025 - 08:00 AM

BOSTON, MA--(BUSINESS WIRE)-- Anchor Capital Advisors, LLC (collectively with its affiliates, “Anchor Capital”), which is a shareholder of Daktronics, Inc. (NASDAQ: DAKT) (“Daktronics” or the “Company”), today issued the following statement regarding its support of shareholder-driven governance enhancements at Daktronics:

“Anchor Capital appreciates the positive conversations we have had with Daktronics’ management. We believe the Company, and its stakeholders, would greatly benefit from adding shareholder-supported board members, who would bring fresh perspectives to help address Daktronics’ undervaluation. We would also support implementing a de-classified board structure in alignment with our proxy voting guidelines, and strong corporate governance.

In our view, it is important that Daktronics remain incorporated in South Dakota at this time – and consider moving to Delaware at a later date – to allow for swift shareholder-driven governance enhancements. As a firm, we believe reincorporating right now would diminish the voices of non-insider shareholders and stymie progress for positive changes backed by a number of top shareholders. We view the proposed enhancements mentioned above as highly beneficial to the Company, aligned with shareholders and essential to Daktronics’ long-term success.”

About Anchor Capital Advisors, LLC

Founded in 1983 and based in Boston, Anchor Capital is a long-only, value-oriented investment management firm. Anchor Capital has assets under advisement of $5.0 billion and assets under management of $2.4 billion as of 12/31/2024.