Brad Wiemann
About Brad Wiemann
Bradley T. Wiemann is Interim President and CEO of Daktronics, Inc. (appointed March 5, 2025), age 62, with a BS in electrical engineering (South Dakota State University) and a master’s in electrical and computer engineering with emphasis in biomedical engineering (University of Iowa). He joined Daktronics in 1993 and previously served as Executive Vice President overseeing Out-of-Home, On-Premise, High Schools & Parks segments, and earlier as VP of Commercial & Transportation; prior roles included engineering and product development at Rockwell International in flight control simulators . Fiscal 2025 performance context: orders +5.6% to $781.3M, operating margin 4.4% vs 10.6% in FY2024, ROA -2.0%, ROE -4.2%; TSR reported at 35.20 for 2025, with net income of -$10.1M and operating income of $33.1M .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Daktronics | Executive Vice President; led Out-of-Home, On-Premise, High Schools & Parks; collaborated on companywide strategies | 2012–2025 | Drove segment execution, product standardization for outdoor products, sales/service channels; supported transformation initiatives |
| Daktronics | Vice President, Commercial & Transportation | 8 years (prior to 2012) | Led market development in commercial, financial, outdoor billboard sectors |
| Daktronics | Product Development leader (indoor products for airports/mass transit); manufacturing/service during university years | 1993 onward (initially returned in 1993) | Built indoor display products; contributed to standardizing engineering/manufacturing; channel development |
| Daktronics | Interim President & CEO | Mar 5, 2025–present | Steered leadership transition; governed Interim CEO RSU grant terms linked to CEO appointment |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Rockwell International (Cedar Rapids, IA) | Engineer developing flight control simulators | Pre-1993 | Engineering expertise in simulation technology; technical foundation for later product leadership |
Fixed Compensation
Multi-year compensation (USD):
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Salary | $297,515 | $306,515 | $331,185 |
| Bonus | $0 | $0 | $41,538 (sign-on for Interim CEO appointment) |
| Stock Awards (RSUs grant-date FV) | $7,550 | $12,116 | $26,945 |
| Option Awards (grant-date FV) | $16,313 | $12,116 | $0 |
| Non-Equity Incentive (Annual) | $4,930 | $180,842 | $27,788 |
| All Other Compensation (401k match etc.) | $8,442 | $9,114 | $10,350 |
| Total Compensation | $334,750 | $520,703 | $437,806 |
Additional Interim CEO terms: effective March 5, 2025, $60,000 monthly cash compensation, not eligible for Annual Incentive while Interim CEO; $300,000 RSU grant (Interim CEO RSU) and $41,538 lump-sum signing bonus .
Performance Compensation
Annual Incentive (FY2025)
| Metric | Weighting | Threshold | Target | Max | Actual | Payout | Notes |
|---|---|---|---|---|---|---|---|
| Operating Margin | 100% | 2.5% | 10.0% | 12.5% | 4.4% (FY2025) | 19% of target achieved companywide | Formula-driven; payout tied to operating margin; individual FY2025 payout $27,788 |
Estimated plan targets for Bradley Wiemann (FY2025):
- Annual incentive target $164,342; threshold $41,085; maximum $197,210 .
- Program disclosure notes maximum payout at 65% of base salary for Wiemann if 120% of target achieved; FY2025 attainment was 19% .
Equity Awards and Vesting
| Grant Date | Type | Shares/Units | Grant-Date Fair Value | Vesting |
|---|---|---|---|---|
| Sep 9, 2024 | RSUs | 2,270 | $25,000 | 20% per year over 5 years, continued employment |
| Mar 5, 2025 | RSUs (Interim CEO RSU Grant) | 20,935 | $300,000 | Fully vests on appointment of new CEO, contingent on continuous employment until that date |
| Historical options (various) | Options | See Outstanding Awards | — | Standard 5-year vest (20% annually), 10-year term; exercise price = grant-date closing price |
Stock vested and options exercised (FY2025):
- RSUs vested: 2,246 shares; value realized $35,577 .
- Options exercised: 7,500 shares; value realized $2,179 .
Clawback: Executive Incentive Compensation Clawback Policy applies to incentive-based pay upon restatement, covering current/former executive officers; recovery of excess incentive compensation over three prior fiscal years .
Hedging/Pledging: Hedging, short sales, and derivatives (collars, swaps, prepaid variable forwards, exchange funds) prohibited for directors/officers and designated employees; policy does not authorize hedging or short sales; no pledging of executive shares disclosed for Wiemann .
Equity Ownership & Alignment
| Item | Value |
|---|---|
| Total beneficial ownership | 129,601 shares; <1% of outstanding |
| Breakdown (as of record date) | Includes 30,207 shares subject to options and 2,200 restricted stock scheduled to vest within 60 days from July 16, 2025 |
| Unvested RSUs at FY2025 year-end | 27,189 units; market value $341,494 (at $12.56 on Apr 25, 2025) |
| Options outstanding (illustrative) | Multiple grants spanning 2015–2023; mix of exercisable/unexercisable, with tenors to 2033; exercise prices from $3.02 to $9.85 (per grant-level table) |
| Ownership guidelines | Director stock ownership guidelines exist (20,000 shares within 5 years); executive officer ownership guidelines not disclosed in proxy |
Hedging/short sales prohibited; no insider pledging disclosed for Wiemann .
Employment Terms
| Agreement | Key Terms |
|---|---|
| Offer Letter (Interim CEO, effective Mar 5, 2025) | $60,000 monthly cash compensation; $300,000 RSU grant (number of RSUs = $300,000 / $14.33 closing price on Mar 4, 2025); fully vests when new CEO is appointed; $41,538 signing bonus; not eligible for Annual Incentive while Interim CEO |
| Termination Agreement (Aug 1, 2025) | Continues as Interim CEO until new CEO start; advisory Transition Period through onboarding or Jan 1, 2026, whichever later; upon retirement or other Qualifying Termination, accelerated vesting and cash settlement of the Mar 5, 2025 RSU grant to ensure minimum $300,000; 12 months of health benefit continuation payments, subject to terms |
| Post-termination economics (Original Retention Plan framework; hypothetical as of Apr 26, 2025) | Termination due to change in control or without cause/good reason: total $582,955, comprising option acceleration $32,152; RSU acceleration $195,840; severance $300,000; COBRA premiums $14,507; vacation pay $40,457 |
Change-in-control provisions under equity plans: Double-trigger acceleration for PSUs at target and full vesting of other awards upon change-in-control termination; if awards are not assumed in a change-in-control, immediate vesting and/or cash-out applies, subject to excise tax adjustment limits .
Compensation Structure vs Performance Metrics
- Annual cash incentive driven solely by company operating margin (threshold 2.5%, target 10%, max 12.5%); FY2025 operating margin was 4.4%, resulting in 19% target payout and Wiemann’s $27,788 bonus for FY2025 (reflecting period as EVP prior to Interim CEO role) .
- Long-term equity mix historically RSUs and options with 5-year pro-rata vesting; FY2026 program introduced PSUs with 3-year performance period (profit growth 60%, revenue growth 40%; cliff vest; 25–150% payout of target) for Covered NEOs, but excludes Interim CEO .
- Clawback policy compliant with SEC/Nasdaq recoupment requirements .
Vesting Schedules and Insider Selling Pressure
- Standard RSUs: 20% per year over five years; options: 20% per year over five years, 10-year term .
- Interim CEO RSU (Mar 5, 2025) fully vests upon appointment of new CEO, accelerating realizable value at transition; Termination Agreement provides cash settlement to at least $300,000, reducing need to sell shares upon vest .
- Option and RSU pro-rata acceleration applies under Original Retention Plan for Qualifying Termination; double-trigger full acceleration under change-in-control per plan documents .
Equity Ownership Alignment and Pledging
- Beneficial ownership <1% with meaningful outstanding unvested RSUs; governance policies prohibit hedging and short sales; no pledging disclosed for Wiemann .
Compensation Peer Group and Governance Signals
- Compensation peer group used for benchmarking includes Apogee Enterprises, Badger Meter, Bio-Techne, Douglas Dynamics, Graco, Hawkins, Johnson Outdoors, LSI Industries, Lindsay, Enerpac Tool Group, Tennant, Proto Labs, STRATTEC, Manitowoc, Mayville .
- Last year’s say-on-pay received overwhelming support (no specific percentage disclosed) .
Performance & Track Record
- FY2025 orders +5.6% to $781.3M; operating margin 4.4% (vs 10.6% FY2024); ROA -2.0%; ROE -4.2%; TSR 35.20; net income -$10.1M; operating income $33.1M during the year in which Wiemann became Interim CEO .
Investment Implications
- Alignment: Interim CEO compensation emphasizes equity via a transition RSU that vests upon CEO appointment, aligning with a smooth leadership transition while limiting cash incentive eligibility during interim period .
- Retention/overhang: Wiemann’s Termination Agreement and RSU cash settlement minimize forced selling at vest, reducing near-term insider selling pressure despite vest acceleration; his planned retirement at/after CEO onboarding lowers ongoing retention risk .
- Pay-for-performance: FY2025 annual incentive tied to operating margin resulted in low payout amid margin compression, indicating program responsiveness to performance; future PSU framework enhances long-term performance linkage for Covered NEOs (Interim CEO excluded) .
- Governance safeguards: Robust clawback and anti-hedging policies, and double-trigger change-in-control vesting, reduce adverse incentive risks; limited ownership stake (<1%) means personal share overhang is modest .
Note: All information is sourced from Daktronics’ 2025 proxy statements and related disclosures as cited.