Strattec Security Corp. Files Definitive Proxy Statement
Ticker: STRT · Form: DEF 14A · Filed: Sep 20, 2024 · CIK: 933034
| Field | Detail |
|---|---|
| Company | Strattec Security Corp (STRT) |
| Form Type | DEF 14A |
| Filed Date | Sep 20, 2024 |
| Risk Level | low |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $19.00, $25.00, $25, $35, $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: proxy-statement, governance, annual-meeting
TL;DR
Strattec proxy filed - vote on directors & pay coming up.
AI Summary
Strattec Security Corp. filed its definitive proxy statement on September 20, 2024, for its annual meeting. The filing, designated as DEF 14A, outlines the information shareholders need to vote on company matters, including the election of directors and executive compensation.
Why It Matters
This filing is crucial for shareholders as it details the proposals to be voted on at the annual meeting, including director elections and executive compensation, impacting corporate governance and shareholder rights.
Risk Assessment
Risk Level: low — This is a routine regulatory filing (DEF 14A) that provides information to shareholders and does not inherently introduce new financial risks.
Key Players & Entities
- STRATTEC SECURITY CORP (company) — Registrant
- 0000950170-24-108458 (filing_id) — Accession Number
- 20240920 (date) — Filing Date
- 20241023 (date) — Conformed Period of Report
FAQ
What is the purpose of a DEF 14A filing?
A DEF 14A filing, also known as a definitive proxy statement, is used by companies to solicit proxies from shareholders for an upcoming annual or special meeting. It provides detailed information about the matters to be voted upon, such as director elections, executive compensation, and other corporate proposals.
When was this definitive proxy statement filed?
This definitive proxy statement was filed on September 20, 2024.
What is the name of the company filing this document?
The company filing this document is STRATTEC SECURITY CORP.
What is the fiscal year end for Strattec Security Corp?
The fiscal year end for Strattec Security Corp. is June 30.
What is the standard industrial classification for Strattec Security Corp?
The standard industrial classification for Strattec Security Corp. is MOTOR VEHICLE PARTS & ACCESSORIES [3714].
Filing Stats: 4,717 words · 19 min read · ~16 pages · Grade level 15.7 · Accepted 2024-09-20 17:00:03
Key Financial Figures
- $19.00 — stock increasing nearly 32% (from about $19.00 to $25.00) from July 3, 2023 to June 28
- $25.00 — easing nearly 32% (from about $19.00 to $25.00) from July 3, 2023 to June 28, 2024, co
- $25 — August 2024, the stock rose from about $25 to nearly $35 as I write this letter. I
- $35 — the stock rose from about $25 to nearly $35 as I write this letter. It’s imp
- $0.01 — g 4,102,852 shares of our common stock, $0.01 par value per share (the “ Commo
Filing Documents
- def14a_strt_proxy_2024.htm (DEF 14A) — 1474KB
- img176831943_0.jpg (GRAPHIC) — 57KB
- img176831943_1.jpg (GRAPHIC) — 10KB
- img176831943_2.jpg (GRAPHIC) — 57KB
- img176831943_3.jpg (GRAPHIC) — 66KB
- img176831943_4.jpg (GRAPHIC) — 71KB
- img176831943_5.jpg (GRAPHIC) — 255KB
- img176831943_6.jpg (GRAPHIC) — 373KB
- 0000950170-24-108458.txt ( ) — 2700KB
Security Ownership
Security Ownership 24 Section 16(a) Reports 25
Executive Compensation
Executive Compensation 26 Compensation Process Overview 26 Summary Compensation Table 28 Outstanding Equity Awards at Fiscal Year End 31 Employment Agreements 31 Post-Employment Compensation 32 Director Compensation 36 General Information 36 Director Summary Compensation Table 37 Pay Versus Performance Disclosure 38 Pay Versus Performance Table 38 Relationship Between Compensation Actually Paid and Performance Measures 39 Transactions With Related Persons 41 Related Person Transactions 41 Review and Approval of Related Person Transactions 41 Proposal 3: Non-Binding Advisory Vote on Executive Compensation 41 The Proposal 41 Table of Contents Section Page No. Vote Required for Approval 42 Board of Directors Recommendation 42 Equity Compensation Plan Information 43 Proposal 4: Approval and Adoption of the STRATTEC SECURITY CORPORATION 2024 Equity Incentive Plan 43 Purpose 44 Corporate Governance Practices 44 Summary of the 2024 Equity Incentive Plan 44 Types of Awards 45 Shares Available for Awards 47 Effect of Termination of Employment or Service 47 Change of Control 48 Other Terms and Conditions 48 Amendment or Termination 48 U.S. Federal Income Tax Consequences 49 New Benefits Under the 2024 Plan 51 Annual Report to the Securities and Exchange Commission on Form 10-K 52 Shareholder Proposals 53 Other Matters 53 Appendix A A- 1 Table of Contents STRATTEC SECURITY CORPORATION 3333 WEST GOOD HOPE ROAD MILWAUKEE, WISCONSIN 53209 Proxy Statement for the 2024 Annual Meeting of Shareholders to be Held on October 23, 2024 Important Notice Regarding the Availability of Proxy Materials for the 2024 Annual Meeting of Shareholders to be held on October 23, 2024: This Proxy Statement and the Accompanying Annual Report are Available at www.strattec.com This Proxy Statement is furnished in connection with the soli