STRATTEC adopts proxy access bylaw; shareholders with 3%+ for 3 years can nominate directors

STRATTEC SECURITY CORP

Board adopted bylaw amendments on August 21, 2024, adding proxy access for director nominations.
Eligible shareholders or groups of up to 20 owning 3%+ of common stock for at least 3 years may nominate candidates.
Maximum shareholder nominees per meeting is the greater of 2 or 20% of board seats (rounded down).
Advance notice deadlines revised: shareholder proposals and nominations due 90-120 days before the prior year's annual meeting anniversary.
New provisions also require detailed disclosures on derivatives, hedging, and voting agreements.

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