8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):  February 8, 2022

STRATTEC SECURITY CORPORATION

(Exact name of registrant as specified in charter)

Wisconsin

(State or other jurisdiction of incorporation)

0-25150	39-1804239
(Commission File Number)	(I.R.S. Employer I.D. Number)

3333 West Good Hope Road Milwaukee, WI	53209
(Address of Principal Executive Offices)	(Zip Code)

(414) 247-3333

(Registrant's telephone number; including area code)

Securities registered or to be registered pursuant to Section 12(b) of the Act:

Title of each class	Trading symbol(s)	Name of exchange on which registered
Common stock, $.01 par value	STRT	The Nasdaq Global Stock Market

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging Growth Company  ☐   

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Section 8 – Other Events

Item 8.01. Other Events.

On February 8, 2022, STRATTEC SECURITY CORPORATION issued a press release (the "Press Release") announcing that Tina Chang has joined the STRATTEC Board of Directors.  A copy of the Press Release is attached as Exhibit 99.1 to this report.

Section 9 - Financial Statements and Exhibits

Item 9.01.
Financial Statements and Exhibits.

(d) Exhibits

99.1 – Press Release of STRATTEC SECURITY CORPORATION, issued February 8, 2022.

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 thereunto duly authorized.

	STRATTEC SECURITY CORPORATION
Date:  February 8, 2022
	By:	/s/ Patrick J. Hansen
		Patrick J. Hansen, Senior Vice President and
		Chief Financial Officer

EX-99.1

Exhibit 99.1

FOR RELEASE AT 5:00 PM CDT

Contact: Frank Krejci

President and Chief

Executive Officer

414-247-3330

www.strattec.com

STRATTEC SECURITY CORPORATION

ANNOUNCES THAT TINA CHANG HAS JOINED

THE COMPANY’S BOARD OF DIRECTORS

Milwaukee, Wisconsin – February 8, 2022 -- STRATTEC SECURITY CORPORATION (“STRATTEC” or the “Company”) (NASDAQ:STRT)

The Board of Directors of STRATTEC SECURITY CORPORATION is pleased to announce that Tina Chang has joined the Company’s Board.  Ms. Chang is the CEO of SysLogic Inc.,a Brookfield, Wisconsin - basedconsulting firm specializing in cybersecurity,technology strategiesand digital transformation.She is also on the boardsof Weyco GroupInc., Central States Manufacturing Inc.as well as non-profit organizations.

Harold Stratton, Chairman of the Board stated: “We are very excited about the skills that Tina will bring to STRATTEC Board discussions.  It will be valuable to have her strategic insights, especially regarding technology-based initiatives.”

“STRATTEC continues to find more ways to grow our current automotive business.  With Tina’s experience, she will be a great resource for our Board and our Management team to help STRATTEC find additional ways to grow by satisfying our customers’ increased demand for innovations in secure connectivity, access control andvehicle/passenger interface enhancements in the rapidly expanding electric vehicle market” said Frank Krejci, President, CEO and Board member of STRATTEC.

STRATTEC has been in the automotive business since its founding in 1908.  It is a recent winner of a General Motors Innovation Award and two PACE Awards from Automotive News for products such as the power tailgate on pick-up trucks offered by GM and Ford.  Other products include powered doors and other access products such as fobs, latches and handles.  STRATTEC is traded on the NASDAQ under the symbol STRT.

Certain statements contained in this release contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words or phrases such as “anticipate,” “believe,” “could,” “expect,” “intend,” “may,” “planned,” “potential,” “should,” “will,” and “would.”   Such forward-looking statements in this release are inherently subject to many uncertainties in the Company’s operations and business environment.  These uncertainties include general economic conditions, in particular, relating to the automotive industry, consumer demand for the Company’s and its customers’ products, competitive and technological developments, customer purchasing actions, changes in warranty provisions and customers’ product recall policies, work stoppages at the Company or at the location of its key customers as a result of labor disputes, foreign currency fluctuations, uncertainties stemming from U.S. trade policies, tariffs and reaction to same from foreign countries, the volume and scope of product returns or customer cost reimbursement actions, adverse business and operational issues resulting from semiconductor chip supply shortages and the coronavirus (COVID-19) pandemic and costs of operations (including fluctuations in the cost, and factors impacting the availability, of necessary raw materials).  Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements.  The forward-looking statements made herein are only made as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances occurring after the date of this release.  In addition, such uncertainties and other operational matters are discussed further in the Company’s quarterly and annual filings with the Securities and Exchange Commission.

XML

Document and Entity Information	Feb. 08, 2022
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Feb. 08, 2022
Entity Registrant Name	STRATTEC SECURITY CORPORATION
Entity Incorporation, State or Country Code	WI
Entity File Number	0-25150
Entity Tax Identification Number	39-1804239
Entity Address, Address Line One	3333 West Good Hope Road
Entity Address, City or Town	Milwaukee
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53209
City Area Code	414
Local Phone Number	247-3333
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Entity Central Index Key	0000933034
Title of 12(b) Security	Common stock, $.01 par value
Trading Symbol	STRT
Security Exchange Name	NASDAQ