secwatch.observer — SEC 8-K summary
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Issuer:     STRATTEC SECURITY CORP (STRT)
CIK:        0000933034
Form:       8-K
Filed at:   2023-11-28T23:59:59+00:00
Accession:  0001140361-23-054827
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

STRATTEC grants retention bonuses of $93K to CFO and $101K to CTO through Dec 31, 2024
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- CFO Dennis Bowe to receive $93,000 retention payment if continuously employed through Dec 31, 2024.
- CTO Richard Messina to receive $101,400 retention payment under same condition.
- Payments made lump sum within 30 days after retention date; forfeited if employment ends earlier.
- Agreements supplement existing employment and change-in-control contracts; no change to at-will status.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/933034/000114036123054827/0001140361-23-054827-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/933034/000114036123054827/ef20015436_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-054827

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