STRATTEC CEO Krejci retirement: $640K salary continuation, 10,200 shares vest, interim CEO Guillot appointed

STRATTEC SECURITY CORP

Frank Krejci to retire as President/CEO and board member effective Dec 31, 2023.
Rolando Guillot named Interim President/CEO effective Jan 1, 2024 (in addition to COO role).
Krejci will receive $640,000 salary continuation over 12 months and COBRA coverage at active rates for 2024.
All 10,200 unvested restricted stock shares will vest on Dec 31, 2023.
Krejci subject to non-compete, non-solicit, confidentiality; provides general release of claims.

item 5.02 item 9.01

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Departed

Frank Krejci

Other Named Officer

STRT · STRATTEC SECURITY CORP

Filed: November 21, 2023, 6:59 PM ET

On November 21, 2023, STRATTEC SECURITY CORPORATION (the “Company”) entered into a Retirement Agreement and General Release intended to become effective on November 29, 2023 (the “Agreement”).

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.8

Frank Krejci retired as other_named_officer at STRATTEC SECURITY CORP.

Action: retired

Exact text from the filing

On November 21, 2023, STRATTEC SECURITY CORPORATION (the “Company”) entered into a Retirement Agreement and General Release intended to become effective on November 29, 2023 (the “Agreement”).

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Source: SEC EDGAR

accession 0001140361-23-054129

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