Stock Option and Purchase Plans

12 Months Ended

Jun. 30, 2013

Stock Option and Purchase Plans

Stock Option and Purchase Plans

A summary of stock option activity under our stock incentive plan was as follows:

	Shares			WeightedAverage Exercise Price		WeightedAverage Remaining Contractual Term (in years)		Aggregate Intrinsic Value (inthousands)
Balance at June27, 2010		297,650		$	33.01
Granted		40,000		$	22.47
Exercised		(2,600	)	$	10.92
Expired		(37,650	)	$	60.36
Balance at July3, 2011		297,400		$	28.32
Granted		40,000		$	26.53
Exercised		(2,600	)	$	10.92
Expired		(2,000	)	$	37.58
Balance at July1, 2012		332,800		$	28.19
Granted		40,000		$	25.64
Exercised		(55,845	)	$	13.78
Expired		(41,500	)	$	52.68
Terminated		(4,000	)	$	17.59
Balance at June30, 2013		271,455		$	27.19		5.4	$	3,830
Exercisable as of:
June30, 2013		139,955		$	29.95		4.4	$	2,104
July1, 2012		192,700		$	33.69		4.5	$	702
July3, 2011		155,800		$	38.37		4.8	$	479
Available for grant as of June30, 2013		153,993

Options granted at a price greater than the market value on the date of grant included in the table above totaled 40,000 at an exercise price of $25.64in 2013, 40,000 at an exercise price of $26.53 in 2012 and 40,000 at an exercise price of $22.47 in 2011.

A summary of restricted stock activity under our stock incentive plan was as follows:

	Shares			WeightedAverage GrantDate FairValue
Nonvested Balance at June27, 2010		27,500			$	29.90
Granted		20,000			$	20.66
Vested		(8,600	)		$	47.78
Nonvested Balance at July3, 2011		38,900			$	21.19
Granted		20,000			$	23.01
Vested		(9,300	)		$	29.00
Forfeited		(200	)		$	23.01
Nonvested Balance at July1, 2012		49,400			$	20.45
Granted		24,150			$	23.69
Vested		(10,400	)		$	15.44
Forfeited		(1,900	)		$	25.49
Nonvested Balance at June30, 2013		61,250			$	22.42

We have an Employee Stock Purchase Plan to provide substantially all U.S. full-time associates an opportunity to purchase shares of STRATTEC common stock through payroll deductions. A participant may contribute a maximum of $5,200 per calendar year to the plan. On the last day of each month or if such date is not a trading day on the most recent previous trading day, participant account balances are used to purchase shares of our common stock at the average of the highest and lowest reported sales prices of a share of STRATTEC common stock on the NASDAQ Global Market. A total of 100,000 shares may be issued under the plan. Shares issued from treasury stock under the plan totaled 2,000 at an average price of $26.88 during 2013, 2,406 at an average price of $22.17 during 2012 and 2,323 at an average price of $26.78 during 2011. A total of 71,351 shares are available for purchase under the plan as of June30, 2013.