secwatch.observer — SEC 8-K summary
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Issuer:     STRATTEC SECURITY CORP (STRT)
CIK:        0000933034
Form:       8-K
Filed at:   2024-05-24T23:59:59+00:00
Accession:  0000950170-24-064310
Event type: other
Sentiment:  neutral
Materiality: 0.20
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

STRATTEC adopts FY2025 non-employee director compensation program
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- Annual retainer of $170,000 per non-employee director: $85,000 cash + $85,000 in restricted stock/RSUs.
- Additional retainers: Board Chair $60,000; Audit Chair $20,000; Compensation & Nominating Committee Chairs $15,000 each.
- Transition year grants in calendar 2025: $50,000 immediate-vest equity grant for FY2024 service; $85,000 grant vesting at next annual meeting.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/933034/000095017024064310/0000950170-24-064310-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/933034/000095017024064310/form_8-k_director_comp_2.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-064310

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer