Strattec Security Corp. Relocates HQ, Files Key Corporate Updates

TL;DR

STRT moving HQ, filing covers exec changes & financials.

AI Summary

Strattec Security Corporation announced on November 11, 2024, a change in its principal executive offices to 3333 West Good Hope Road, Milwaukee, Wisconsin 53209. This filing also indicates potential updates regarding director departures, elections, officer appointments, and compensatory arrangements, as well as Regulation FD disclosures and financial statements.

Why It Matters

A change in principal executive offices can signal operational shifts or strategic realignments within the company. The filing also covers important corporate governance and financial information.

Risk Assessment

Risk Level: low — The filing primarily concerns administrative and corporate governance matters, with no immediate financial or operational risks disclosed.

Key Players & Entities

• STRATTEC SECURITY CORPORATION (company) — Registrant
• 3333 West Good Hope Road, Milwaukee, Wisconsin 53209 (location) — New Principal Executive Offices

FAQ

Key Financial Figures

• $470,000 — li's initial annual base salary will be $470,000, subject to adjustment by the Board of
• $200,000 — restricted stock units with a value of $200,000 ("Sign-on Grant"), which shall be award
• $10,000 — diately; and (e) reimbursement of up to $10,000 for reasonable executive outplacement s

Filing Documents

• strt-20241111.htm (8-K) — 54KB
• strt-ex10_1.htm (EX-10.1) — 157KB
• strt-ex99_1.htm (EX-99.1) — 18KB
• img57970978_0.jpg (GRAPHIC) — 99KB
• 0000950170-24-124505.txt ( ) — 508KB
• strt-20241111.xsd (EX-101.SCH) — 25KB
• strt-20241111_htm.xml (XML) — 4KB

02

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On November 11, 2024, STRATTEC SECURITY CORPORATION (the "Company") issued a press release announcing that the Board of Directors has appointed Matthew Pauli as Senior Vice President and Chief Financial Officer effective November 13, 2024. The full text of the Company's press release is attached as Exhibit 99.1 to this Current Report on Form 8-K. Also on November 11, 2024, the Company announced a transition in the role of Chief Financial Officer, to coincide with the appointment of Mr. Pauli as Senior Vice President and Chief Financial Officer on November 13, 2024. To assist with the transition, the Company will continue to employ Dennis Bowe, who served as the Company's Chief Financial Officer from September 1, 2022 through November 12, 2024, through February 7, 2025 to assist in the transition in an advisory role. Mr. Pauli, age 46, joins the Company from CentroMotion, a global manufacturer of highly engineered products serving the transportation, agriculture, construction equipment and other industrial markets. Mr. Pauli brings 24 years of experience in finance and for the past five years has held the role of Executive Advisor and Chief Financial Officer of CentroMotion, responsible for the global tax, treasury, accounting, information technology and legal functions. Prior to his tenure at CentroMotion, Mr. Pauli held progressively challenging corporate and segment finance leadership roles at Enerpac Tool Group (formerly known as Actuant) including Corporate Controller and Chief Accounting Officer. Mr. Pauli began his career at Ernst & Young, where he spent eight years in the firm's audit practice. Pursuant to an Employment Agreement between Mr. Pauli and the Company (the "Employment Agreement"), the Company has agreed to employ Mr. Pauli for an initial term of one year effective November 13, 2024 (

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. As described in "Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers" above, on November 11, 2024, the Company issued a press release announcing that it had appointed Matthew P. Pauli as Senior Vice President and Chief Financial Officer effective November 13, 2024. Pursuant to General Instruction B.2 of Current Report on Form 8-K, the information in this Item 7.01 is being furnished and shall not be deemed to be "filed" for purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of that section. Furthermore, the information in this Item 7.01 shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act except as may be expressly set forth by specific reference in such filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits . Exhibit Number Description 10.1 Employment Agreement effective November 13, 2024 99.1 Press Release issued November 11, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 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. STRATTEC SECURITY CORPORATION By: /s/ Dennis P. Bowe Dennis P. Bowe, Vice President and Chief Financial Officer Date: November 11, 2024

View Full Filing

View this 8-K filing on SEC EDGAR