Neil Glat
About Neil D. Glat
Independent director elected to Daktronics’ board on September 3, 2025 (age 57). Background spans senior operating roles and board leadership across sports, media, hospitality, and technology; former President of the New York Jets and senior executive at the NFL. Education: J.D. from Harvard Law School and B.S. in Economics (Finance concentration) from The Wharton School, University of Pennsylvania. Tenure at DAKT began with election at the 2025 Annual Meeting and he is classified as an Independent Director under Nasdaq rules.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| New York Jets | President; later Senior Advisor | President: Apr 2012–Aug 2019; Senior Advisor: Sep 2019–Mar 2020 | Led all team business operations. |
| National Football League | Senior leadership positions (corporate development, strategy, stadium development, club business growth) | Jun 1997–Apr 2012 | Oversaw strategic and growth initiatives. |
| SPORTFIVE | Co-President, Americas | Dec 2021–Feb 2024 | Led U.S. operations and commercial businesses; oversight of finance, legal, HR, communications. |
| McKinsey & Company | Management consulting | Earlier career | Strategy and operations advisory experience. |
| Dillon, Read & Co. | Investment banking | Earlier career | Corporate finance experience. |
| NG Strategies, LLC | Managing Member (strategic advisor) | Sep 2019–present | Advises PE firms and emerging companies in sports, media, tech. |
External Roles
| Organization | Role | Tenure | Committees |
|---|---|---|---|
| Evolv Technology (NASDAQ: EVLV) | Chair of the Board; Director | Director since Jul 2021; Chair since Nov 2023 | Investment; Nominating & Corporate Governance. |
| Fubo (NYSE: FUBO) | Director | Since Mar 2024 | Chair, Compensation; member, Nominating & Corporate Governance. |
| NewHold Investment Corp. I (SPAC) | Director | Jul 2020–Jul 2021 | Board service at publicly traded SPAC. |
| NewHold Investment Corp. II (SPAC) | Director | Oct 2021–Apr 2023 | Board service at publicly traded SPAC. |
| ASM Global (private) | Director | 2019–2024 | World’s largest venue management company; exited upon sale. |
| Arctos Sports Partners; H.I.G. Capital | Senior Advisor | — | PE advisory in pro sports and general PE. |
| University of Pennsylvania SP2 | Board of Advisors | — | Nonprofit/academic advisory. |
Board Governance
- Independence: The Nominating Committee determined Neil Glat is an Independent Director under Nasdaq Listing Rule 5605(a)(2).
- Election: Elected at the 2025 Annual Meeting; vote totals: For 37,443,764; Against 276,646; Abstain 377,755; Broker non-votes 6,827,404.
- Committee assignments at Daktronics: Not specified for Mr. Glat in the 2025 proxy and no committee appointments for him were disclosed in the post-meeting Form 8‑K.
- Attendance: In FY2025, all incumbent directors (pre-election) attended at least 75% of Board and committee meetings; independent directors held executive sessions four times. Policy expects directors to prepare for and attend Board, stockholder, and committee meetings.
| Election Outcome (Sep 3, 2025) | Votes For | Votes Against | Abstain | Broker Non-Votes |
|---|---|---|---|---|
| Neil D. Glat (Director, term to 2028) | 37,443,764 | 276,646 | 377,755 | 6,827,404 |
Fixed Compensation
DAKT non-employee director pay structure in FY2025 (applies to independent directors; Mr. Glat joined post-FY2025 and would be subject to prevailing structure thereafter):
- Annual cash retainer: $53,750.
- Committee fees (annual): Chair $7,250; Member $4,675 (Audit, Compensation, Nominating, Strategy & Risk).
- Lead Independent Director: $15,000.
- Temporary Special Committee (one-off in FY2025): Chair $350,000; Member $6,500.
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer | $53,750 | Independent directors |
| Committee chair fee | $7,250 | Per committee (Audit/Comp/Nom/Strategy & Risk) |
| Committee member fee | $4,675 | Per committee |
| Lead Independent Director | $15,000 | Role stipend |
| Temporary Special Committee (FY2025 only) | $350,000 (Chair); $6,500 (Member) | One-time transformation oversight committee |
Performance Compensation
- Director equity: Time-based restricted stock (RSUs) historically granted annually (e.g., Sep 9, 2024 grants of 7,160 RS for most directors; vesting Aug 23, 2025). Grant-date fair value $85,000 (DAKT closing price $11.87).
- Equity plan framework: The 2025 Stock Incentive Plan (approved Sep 3, 2025) authorizes RS/RSUs, options, PSUs, and deferred stock for employees, directors, and consultants. Contains CIC acceleration and excise-tax cutback provisions.
- Executive pay-for-performance benchmarking (context for board oversight): FY2026 program introduced PSUs and multi-metric annual incentives for NEOs (not directors), evidencing stronger performance linkage.
| Compensation Metric Architecture (FY2026 NEOs) | Weight | Payout Range |
|---|---|---|
| Annual Incentive – Revenue (FY2026) | 30% | 25%–150% of target |
| Annual Incentive – Operating Margin (FY2026) | 50% | 25%–150% of target |
| Annual Incentive – Individual Objectives | 20% | 25%–150% of target |
| PSUs – Profit Growth (3-year) | 60% | 25%–150% of target earned |
| PSUs – Revenue Growth (3-year) | 40% | 25%–150% of target earned |
| Director Equity Example (FY2025) | Grant | Shares | Grant-Date FV |
|---|---|---|---|
| Annual RSU grant (most directors) | Sep 9, 2024 | 7,160 | $85,000 (at $11.87/sh) |
| Vesting | Aug 23, 2025 | — | Time-based vesting |
Other Directorships & Interlocks
| Company | Role | Committees | Potential Interlocks/Notes |
|---|---|---|---|
| Evolv Technology (EVLV) | Chair; Director | Investment; Nominating & Corporate Governance | No DAKT-related transactions disclosed. |
| Fubo (FUBO) | Director | Chair, Compensation; Nominating & Corporate Governance | No DAKT-related transactions disclosed. |
| NewHold Investment Corp. I/II (SPACs) | Director | — | Prior SPAC board service. |
| ASM Global (private) | Director | — | 2019–2024; sold Aug 2024. |
| University of Pennsylvania SP2 | Board of Advisors | — | Academic/nonprofit role. |
Related-party transaction review in DAKT’s proxy reveals dealings with Milwaukee Bucks (President Peter Feigin, DAKT director) and Dakota State University (President Dr. José‑Marie Griffiths, DAKT director), plus Alta Fox note; no transactions disclosed involving Mr. Glat or his affiliated entities.
Expertise & Qualifications
- Strategic leadership across professional sports franchises and league operations; venue strategy and business growth.
- Corporate development, strategy, M&A, stadium development, and operating margin improvement experience.
- Governance experience chairing boards and compensation committees at public companies.
- Legal and finance training (Harvard Law J.D.; Wharton B.S. Econ).
Equity Ownership
- DAKT beneficial ownership for Mr. Glat was not disclosed in the FY2025 proxy’s ownership table (he was a nominee and not yet a director as of the record date). Director stock ownership guidelines require 20,000 shares within five years of joining the Board.
Governance Assessment
- Independence and election mandate: Independent status confirmed; strong shareholder support for his election (37.44M For vs. 0.28M Against). This supports investor confidence in his appointment.
- Committee role clarity: DAKT has not yet disclosed Mr. Glat’s committee assignments; Board committees are active (e.g., Compensation met 20 times in FY2025), indicating significant workload and oversight expectations.
- Pay design oversight signals: Company introduced PSUs and multi-metric incentives for FY2026 and adopted the 2025 Stock Incentive Plan with CIC provisions, aligning with performance-based governance trends; Alta Fox Cooperation Agreement required engaging an independent comp consultant and investor day, indicating responsive governance.
- Say-on-pay & shareholder engagement: 2025 say-on-pay approved (33.66M For; 4.19M Against; 0.25M Abstain), and investor day commitment under cooperation agreement; these enhance transparency and investor dialogue.
- Conflicts/related party exposure: No related-party transactions disclosed involving Mr. Glat; DAKT policy prohibits hedging/short sales for covered persons.
- Legal and risk indicators: Company reports no director involvement in disqualifying legal proceedings in past 10 years; Section 16(a) late filings were noted for several insiders in FY2025, not including Mr. Glat.
RED FLAGS
- Multiple concurrent public-company roles (Evolv chair; Fubo director/chair of comp) can raise time-commitment scrutiny; ongoing monitoring of attendance and committee engagement at DAKT is warranted once assignments are disclosed.
- Transformation complexity at DAKT (temporary special committee in FY2025; activism settlement) implies elevated governance demands on new directors.