STRATTEC SECURITY CORP reported financial results for fiscal third quarter ended March 29, 2026.
“Net sales were $137.6 million, down $6.5 million, or 4.5% from the prior-year period.”
STRATTEC SECURITY CORP — fact timeline
Source-grounded facts extracted from STRATTEC SECURITY CORP's SEC 8-K filings across all families, newest first. Each cites a verbatim SEC excerpt.
STRATTEC SECURITY CORP terminated Prior JV Credit Agreement with BMO Bank N.A. (effective 2026-04-30).
“Effective as of April 30, 2026, ADAC-STRATTEC, LLC (“ADAC-STRATTEC”), a majority owned joint venture subsidiary of Strattec Security Corporation (the “Company”), entered into an Amended and Restated Credit Agreement with BMO Bank N.A. (the “New JV Credit Agreement”) that replaced ADAC-STRATTEC’s existing credit agreement, dated June 28, 2012, with BMO Bank N.A.”
STRATTEC SECURITY CORP incurred revolving credit of $40.0 million with BMO Bank N.A. at Term SOFR plus 150.0 basis points maturing October 27, 2028.
“The Credit Facility provides for a $40.0 million secured revolving credit facility with a $5.0 million sublimit for the issuance of commercial and standby letters of credit”
Rolando J. Guillot departed as Senior Vice President – Operations and Chief Operating Officer at STRATTEC SECURITY CORP.
“On March 31, 2025, STRATTEC SECURITY CORPORATION (the “Company”) announced that Rolando J. Guillot, the Company’s Senior Vice President – Operations and Chief Operating Officer, will retire from the Company on September 30, 2025, after a successful 35 year career with the Company.”
Dennis Bowe changed role as Chief Financial Officer at STRATTEC SECURITY CORP.
“the Company will continue to employ Dennis Bowe, who served as the Company’s Chief Financial Officer from September 1, 2022 through November 12, 2024, through February 7, 2025 to assist in the transition in an advisory role.”
Matthew Pauli was appointed as Senior Vice President and Chief Financial Officer at STRATTEC SECURITY CORP.
“the Board of Directors has appointed Matthew Pauli as Senior Vice President and Chief Financial Officer effective November 13, 2024.”
STRATTEC SECURITY CORP: Adoption of Amended and Restated By-Laws revising advance notice periods for shareholder proposals and nominations, and conforming director election terms to annual elections (effective 2024-10-23).
“On October 23, 2024, the Board of Directors adopted Amended and Restated By-Laws which (i) incorporated certain amendments to the Company’s By-Law as adopted by the Board of Directors on August 21, 2024, which amended Section 2.01 of Article II of the By-Laws to revise the periods during which advance notice of certain shareholder proposals and certain shareholder nominations of directors must be provided in connection with annual and certain special meetings of shareholders, and (ii) revised Section 3.02 to provide for annual terms of elections of directors.”
STRATTEC SECURITY CORP: Amendment to Articles of Incorporation to eliminate classified board of directors, making all directors elected annually (effective 2024-10-23).
“On October 23, 2024, the shareholders of the Company approved and the Board of Directors adopted an Amendment to the Amended and Restated Articles of Incorporation which eliminates the classification of the Board of Directors so that each director will stand for election annually.”
Al-Waleed H. Hamdan departed as Vice President – Global Sales and Product Management and Chief Commercial Officer at STRATTEC SECURITY CORP.
“On September 3, 2024, STRATTEC SECURITY CORPORATION (the “Company”) announced the departure from the Company of Al-Waleed H. Hamdan, Vice President – Global Sales and Product Management and Chief Commercial Officer, effective October 3, 2024.”
Jennifer L. Slater was appointed as President and Chief Executive Officer at STRATTEC SECURITY CORP.
“Effective July 1, 2024, Mr. Guillot will return to his role as Senior Vice President – Operations and Chief Operating Officer upon the appointment of Jennifer L. Slater as President and Chief Executive Officer, as previously disclosed by the Company in its Current Report on Form 8-K filed on June 14, 2024.”
Roland J. Guillot changed role as Senior Vice President – Operations and Chief Operating Officer at STRATTEC SECURITY CORP.
“Effective July 1, 2024, Mr. Guillot will return to his role as Senior Vice President – Operations and Chief Operating Officer upon the appointment of Jennifer L. Slater as President and Chief Executive Officer, as previously disclosed by the Company in its Current Report on Form 8-K filed on June 14, 2024.”
Jennifer L. Slater was appointed as Director at STRATTEC SECURITY CORP.
“The Board of Directors also has appointed Ms. Slater as a member of the Board of Directors effective July 1, 2024.”
Jennifer L. Slater was appointed as President and Chief Executive Officer at STRATTEC SECURITY CORP.
“On June 14, 2024, STRATTEC SECURITY CORPORATION (the “Company”) issued a press release announcing that the Board of Directors has appointed Jennifer L. Slater as President and Chief Executive Officer effective July 1, 2024.”
STRATTEC SECURITY CORP reported Third Quarter ended March 31, 2024 results: revenue $140,773 thousand, net income $1,506 thousand, EPS $0.37.
“Third Quarter Fiscal 2024 Financial Summary Third Quarter Ending Mar 31, 2024 Apr. 2, 2023 Inc (Dec) (Dollars in thousands, except per share data) Net Sales $ 140,773 $ 127,183 $ 13,590 Gross Profit $ 14,684 $ 10,001 $ 4,683 Gross Margin 10.4% 7.9% Operating Expenses $ 12,725 $ 12,485 $ 240 Operating Income (Loss) from Operations $ 1,959 $ (2,484) $ 4,443 Net Income (Loss) $ 1,506 $ (2,256) $ 3,762 Diluted Earnings (Loss) Per Share $ 0.37 $ (0.57) $ 0.94”
STRATTEC SECURITY CORP reported Second Quarter Ending Dec. 31, 2023 results: revenue Net Sales $ 118,532 $ 113,184 $ 5,348, net income Net Income $ 1,022 $ (1,839 ) $ 2,861, EPS Diluted Earnings Per Share $ 0.26 $ (0.47 ) $ 0.73.
“Second Quarter Fiscal 2024 Financial Summary Second Quarter Ending Dec. 31, 2023 Jan. 1, 2023 Inc (Dec) (Dollars in thousands, except per share data) Net Sales $ 118,532 $ 113,184 $ 5,348 Gross Profit $ 13,497 $ 7,387 $ 6,110 Gross Margin 11.4 % 6.5 % Operating Expenses $ 13,439 $ 12,081 $ 1,358 Operating Income $ 58 $ (4,694 ) $ 4,752 Net Income $ 1,022 $ (1,839 ) $ 2,861 Diluted Earnings Per Share $ 0.26 $ (0.47 ) $ 0.73”
STRATTEC SECURITY CORP reported fiscal second quarter ended December 31, 2023 results: revenue Net Sales $118,532, net income Net Income $1,022, EPS $0.26.
“our customers.” Second Quarter Fiscal 2024 Financial Summary Second Quarter Ending Dec. 31, 2023 Jan. 1, 2023 Inc (Dec) (Dollars in thousands, except per share data) Net Sales $ 118,532 $ 113,184 $ 5,348 Gross Profit $ 13,497 $ 7,387 $ 6,110 Gross Margin 11.4 % 6.5 % Operating Expenses $ 13,439 $ 12,081 $ 1,358 Operating Income $ 58 $ (4,694 ) $ 4,752 Net Income”
Frank Krejci retired as other_named_officer at STRATTEC SECURITY CORP.
“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”).”
Rolando J. Guillot was appointed as Interim President and Chief Executive Officer at STRATTEC SECURITY CORP.
“The Company also announced that Rolando J. Guillot, Senior Vice President – Operations and Chief Operating Officer, has been named to serve as Interim President and Chief Executive Officer effective January 1, 2024 in addition to his current role.”
Frank J. Krejci retired as President and Chief Executive Officer at STRATTEC SECURITY CORP.
“Frank J. Krejci, President and Chief Executive Officer, will retire from employment with the Company and resign from the Company’s Board of Directors (“Board”) effective December 31, 2023.”
STRATTEC SECURITY CORP reported the fiscal first quarter ended October 1, 2023 results: revenue $135.4 million, net income $4.2 million, EPS $1.05.
“STRATTEC SECURITY CORPORATION (“STRATTEC” or the “Company”) (NASDAQ:STRT) today reported operating results for the fiscal first quarter ended October 1, 2023. Net sales for the first quarter ended October 1, 2023 were $135.4 million, compared to net sales of $120.4 million for the first quarter ended October 2, 2022. Net income was $4.2 million in the current year first quarter, compared to net income of $125,000 in the prior year first quarter. Diluted earnings per share for the current year quarter were $1.05 and for the prior year first quarter were $0.03.”
STRATTEC SECURITY CORP shareholders approved Advisory (non-binding) vote on the frequency of future advisory votes on the executive compensation of the Company's named executive officers at the 2023-10-10 meeting.
“Proposal 3: Advisory (non-binding) vote on the frequency of future advisory votes on the executive compensation of the Company's named executive officers: The shareholders voted to recommend that the Company include an advisory vote on the compensation of the Company's named executive officers pursuant to the rules of the Securities and Exchange Commission (the " Commission ") every year. One Year Two Years Three Years Abstentions Broker Non-Votes 2,874,933 10,651 222,087 151,016 0”
STRATTEC SECURITY CORP shareholders approved Advisory (non-binding) vote on the executive compensation awarded to the Company's named executive officers at the 2023-10-10 meeting.
“Proposal 2: Advisory (non-binding) vote on the executive compensation awarded to the Company's named executive officers: The shareholders voted at the Annual Meeting in favor of the compensation of the Company's named executive officers as disclosed in the Proxy Statement for the Annual Meeting. Votes For Votes Against Abstentions Broker Non-Votes 3,009,106 93,165 156,416 0”
STRATTEC SECURITY CORP shareholders approved Election of Directors at the 2023-10-10 meeting.
“Proposal 1: Election of Directors: The following individuals, each of whom was nominated for election to the Board of Directors by the Company, was elected by the shareholders at the Annual Meeting for a term of three years expiring at the 2026 Annual Meeting of shareholders. Name Votes For Votes Against Abstentions Broker Non-Votes David R. Zimmer 3,129,780 121,240 7,667 0 Bruce M. Lisman 3,179,853 71,540 7,294 0 F. Jack Liebau, Jr. 3,227,252 24,291 7,144 0”
STRATTEC SECURITY CORP amended credit facility with BMO Harris Bank N.A. at increases the interest rate margin from 1.25% to 1.75% maturing extends the maturity date on the credit facility from August 1, 2024 to August 1, 2026.
“As described above under Item 1.01, on August 22, 2023, the Company entered into an amendment to its credit agreement with BMO Harris Bank N.A. extending the term of the credit facility, modifying the interest rate margin and the unused borrowing fee, amending the required minimum consolidated net worth covenant and making certain other changes described in the Amendment attached hereto.”
STRATTEC SECURITY CORP amended Ninth Amendment to Credit Agreement with BMO Harris Bank N.A. valued at Extended maturity to August 1, 2026; interest rate margin increased from 1.25% to 1.75%; unused borr (effective 2023-08-22).
“Effective as of August 22, 2023, STRATTEC SECURITY CORPORATION (the " Company ") entered into a ninth amendment (the " Amendment ") to its August 1, 2011 Credit Agreement, as previously amended by an Amendment No. 1 dated December 27, 2013, an Amendment No. 2 dated June 25, 2015, an Amendment No. 3 dated June 24, 2016, an Amendment No. 4 dated June 26, 2017, an Amendment No. 5 dated September 28, 2018, an Amendment No. 6 dated October 28, 2019, an Amendment No. 7 dated June 1, 2021 and an Amendment No. 8 dated February 22, 2023 (collectively, the " STRATTEC Credit Agreement "), with BMO Harris Bank N.A., as lender.”
Michael J. Koss departed as director at STRATTEC SECURITY CORP.
“On August 22, 2023, Michael J. Koss, a director of the Company, notified the Company, that he will be retiring from, and will not stand for re-election to, the Board of Directors as part of the Company's 2023 Annual Meeting of Shareholders to be held on October 10, 2023”
STRATTEC SECURITY CORP reported financial results for the fiscal fourth quarter and year ended July 2, 2023.
“On August 10, 2023, STRATTEC SECURITY CORPORATION issued a press release (the " Press Release ") announcing results for the fiscal fourth quarter and year ended July 2, 2023.”
STRATTEC SECURITY CORP entered into Equity Restructuring Agreement with WITTE Automotive GmbH valued at $18,500,000 (effective 2023-06-29).
“On June 29, 2023, STRATTEC SECURITY CORPORATION (the " Company ") entered into an Equity Restructuring Agreement (the " Restructuring Agreement ") with WITTE Automotive GmbH (" WITTE ") providing for the restructuring of the Company's Vehicle Access Systems Technologies LLC (" VAST LLC ") and its STRATTEC Power Access LLC, a Delaware limited liability company (" SPA "), joint ventures.”
STRATTEC SECURITY CORP reported fiscal third quarter ended April 2, 2023 results: revenue $127.2 million, net income Net loss was $2.3 million, EPS Diluted loss per share for the current year third quarter was $0.57.
“STRATTEC SECURITY CORPORATION REPORTS FISCAL 2023 THIRD QUARTER OPERATING RESULTS Milwaukee, Wisconsin – April 27, 2023 -- STRATTEC SECURITY CORPORATION ("STRATTEC" or the "Company") (NASDAQ:STRT) today reported operating results for the fiscal third quarter ended April 2, 2023. Net sales for the third quarter ended April 2, 2023 were $127.2 million, compared to net sales of $115.9 million for the third quarter ended March 27, 2022. Net loss was $2.3 million in the current year third quarter, compared to net income of $3.1 million in the prior year third quarter. Diluted loss per share for the current year third quarter was $0.57 compared to diluted earnings per share of $0.80 in the prior year third quarter.”
STRATTEC SECURITY CORP amended credit facility with BMO Harris Bank N.A. at Term SOFR plus 1.35 percent or the bank’s base rate, which generally is tied to.
“As described above under Item 1.01, on February 22, 2023, the Company entered into an amendment to its credit agreement with BMO Harris Bank N.A. modifying the benchmark interest rate and making certain other changes thereto described in the Amendment attached hereto.”
STRATTEC SECURITY CORP amended Eighth Amendment to Credit Agreement dated August 1, 2011 with BMO Harris Bank N.A. valued at Modified interest rate benchmark to Term SOFR plus 1.35% or base rate tied to prime rate. (effective 2023-02-22).
“Effective as of February 22, 2023, STRATTEC SECURITY CORPORATION (the " Company ") entered into an eighth amendment (the " Amendment ") to its August 1, 2011 Credit Agreement, as previously amended by an Amendment No. 1 dated December 27, 2013, an Amendment No. 2 dated June 25, 2015, an Amendment No. 3 dated June 24, 2016, an Amendment No. 4 dated June 26, 2017, an Amendment No. 5 dated September 28, 2018, an Amendment No. 6 dated October 28, 2019 and an Amendment No. 7 dated June 1, 2021 (collectively, the " STRATTEC Credit Agreement "), with BMO Harris Bank N.A., as lender.”
STRATTEC SECURITY CORP amended credit facility with BMO Harris Bank N.A. at Term SOFR plus 1.35 percent or the bank's base rate.
“As described above under Item 1.01, on February 6, 2023, ADAC-STRATTEC entered into an amendment to its credit agreement with BMO Harris Bank N.A. modifying the benchmark interest rate, amending the calculation of the fixed charge coverage ratio and the required level of minimum net worth and making certain other changes thereto described in the Amendment attached hereto.”
STRATTEC SECURITY CORP amended ADAC-STRATTEC Credit Agreement with BMO Harris Bank N.A. valued at Term SOFR plus 1.35 percent or the bank’s base rate, and fixed charge coverage ratio and minimum net (effective 2023-02-06).
“Effective as of February 6, 2023, ADAC-STRATTEC, LLC (“ ADAC-STRATTEC ”), a majority owned subsidiary of STRATTEC SECURITY CORPORATION (the “ Company ”), entered into a ninth amendment (the “ Amendment ”) to its June 28, 2012 Credit Agreement, as previously amended by an Amendment No. 1 dated January 22, 2014, an Amendment No. 2 dated June 25, 2015, an Amendment No. 3 dated April 27, 2016, an Amendment No. 4 dated June 26, 2017, an Amendment No. 5 dated March 27, 2018, an Amendment No. 6 dated December 30, 2018, an Amendment No. 7 dated October 28, 2019 and an Amendment No. 8 dated June 1, 2021 (collectively, the “ ADAC-STRATTEC Credit Agreement ”), with BMO Harris Bank N.A., as lender.”
STRATTEC SECURITY CORP reported the six months ended January 1, 2023 results: revenue $233.5 million, net income Net loss during the current year six-month period was $1.7 million, EPS $0.44.
“For the six months ended January 1, 2023, the Company’s net sales were $233.5 million compared to net sales of $213.2 million in the prior year six-month period. Net loss during the current year six-month period was $1.7 million compared to a net income of $3.5 million during the prior year six-month period. Diluted loss per share was $0.44 during the six-month period ended January 1, 2023 compared to diluted earnings per share of $0.89 during the six-month period ended December 26, 2021.”
STRATTEC SECURITY CORP reported the fiscal second quarter ended January 1, 2023 results: revenue $113.2 million, net income Net loss was $1.8 million, EPS $0.47.
“Net sales for the second quarter ended January 1, 2023 were $113.2 million, compared to net sales of $112.9 million for the second quarter ended December 26, 2021. Net loss was $1.8 million in the current year second quarter, compared to net income of $3.4 million in the prior year second quarter. Diluted loss per share for the current year second quarter was $0.47 compared to diluted earnings per share of $0.87 in the prior year second quarter.”
STRATTEC SECURITY CORP engaged Deloitte & Touche LLP as its auditor.
“On December 7, 2022, STRATTEC SECURITY CORPORATION (the "Company") dismissed Crowe LLP as its independent public accountants and appointed Deloitte & Touche LLP as its new independent public accountants.”
STRATTEC SECURITY CORP dismissed Crowe LLP as its auditor.
“On December 7, 2022, STRATTEC SECURITY CORPORATION (the "Company") dismissed Crowe LLP as its independent public accountants and appointed Deloitte & Touche LLP as its new independent public accountants.”
Dennis Bowe was appointed as Vice President and Chief Financial Officer at STRATTEC SECURITY CORP.
“effective as of September 1, 2022 Dennis Bowe, age 54, will be appointed as the Company's Vice President and Chief Financial Officer.”
Patrick J. Hansen departed as Senior Vice President and Chief Financial Officer at STRATTEC SECURITY CORP.
“On August 4, 2022, Mr. Hansen notified the Company that he will retire effective as of September 9, 2022.”
Tina Chang was appointed as Director at STRATTEC SECURITY CORP.
“Effective February 1, 2022 and upon recommendation from the Nominating and Corporate Governance Committee of the Board of Directors of STRATTEC SECURITY CORPORATION (the " Company "), the Company's Board of Directors approved the appointment of Tina Chang as a director of the Company.”
Patrick J. Hansen departed as Senior Vice President and Chief Financial Officer at STRATTEC SECURITY CORP.
“Following subsequent discussions between Mr. Hansen and the Company, Mr. Hansen has agreed to postpone his retirement plans until September 2022 following the filing of STRATTEC's Annual Report and Proxy Statement for its fiscal year 2022 in order to further strengthen the transition process within the Company's accounting and finance team.”
Patrick J. Hansen departed as Senior Vice President and Chief Financial Officer at STRATTEC SECURITY CORP.
“During September 2021, Patrick J. Hansen, the Senior Vice President and Chief Financial Officer of STRATTEC SECURITY CORPORATION (the " Company "), informed the Company that he intends to retire during January 2022.”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.