Strattec JV inks new credit deal, releases guaranty

Strattec Security Corporation disclosed that its majority-owned joint venture, ADAC-STRATTEC, LLC, entered into a new Amended and Restated Credit Agreement with BMO Bank N.A., effective April 30, 2026.

Rhea-AI Filing Summary

Strattec Security Corporation disclosed that its majority-owned joint venture, ADAC-STRATTEC, LLC, entered into a new Amended and Restated Credit Agreement with BMO Bank N.A., effective April 30, 2026. This New JV Credit Agreement replaces the prior 2012 credit facility.

With this change, Strattec’s guaranty, liens and related obligations under the prior joint venture credit agreement were terminated and released. Strattec is no longer a borrower, guarantor or other credit support party under the new joint venture credit agreement, reducing its direct credit exposure to the facility.

8-K Event Classification

Item 1.02 — Termination of a Material Definitive Agreement

1 item

Item 1.02 Termination of a Material Definitive Agreement Business

A significant contract was terminated, which may affect business operations or revenue.

Key Figures

Effective date of new JV credit agreement: April 30, 2026 Prior JV credit agreement date: June 28, 2012 Commission File Number: 0-25150

3 metrics

Effective date of new JV credit agreement April 30, 2026 New Amended and Restated Credit Agreement effectiveness

Prior JV credit agreement date June 28, 2012 Original ADAC-STRATTEC credit agreement now replaced

Commission File Number 0-25150 Strattec Security Corporation SEC registration reference

Key Terms

Amended and Restated Credit Agreement, joint venture subsidiary, guarantor, material definitive agreement, +1 more

5 terms

Amended and Restated Credit Agreement financial

"entered into an Amended and Restated Credit Agreement with BMO Bank N.A."

An amended and restated credit agreement is a company’s original loan contract that has been updated and replaced by a single new document incorporating all changes. Think of it like refinancing and rewriting a mortgage so new payment schedules, interest rates, borrowing limits, or borrower obligations are combined into one clear contract. Investors care because those new terms change a company’s cash flow, borrowing flexibility and default risk, which can affect creditworthiness and share value.

joint venture subsidiary financial

"ADAC-STRATTEC, LLC (“ADAC-STRATTEC”), a majority owned joint venture subsidiary"

guarantor financial

"The Company was a guarantor under the Prior JV Credit Agreement"

material definitive agreement regulatory

"previously disclosed the Prior JV Credit Agreement as a material definitive agreement"

A material definitive agreement is a legally binding contract that creates major, long‑term obligations or rights for a company, such as loans, asset sales, mergers, or supplier deals. Think of it like a mortgage or lease for a business: it can change future cash flow, risk and control, so investors watch these agreements closely because they can materially affect a company’s value, financial health and stock price.

credit support party financial

"The Company is not a borrower, guarantor or other credit support party under the New JV Credit Agreement."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What change did Strattec Security Corporation (STRT) report in this 8-K?

Strattec reported that its joint venture ADAC-STRATTEC, LLC entered into a new Amended and Restated Credit Agreement with BMO Bank N.A. This agreement replaces the prior 2012 credit facility and alters Strattec’s role in relation to the joint venture’s borrowing arrangements.

How does the new JV credit agreement affect Strattec Security Corporation (STRT)?

Under the new JV credit agreement, Strattec’s guaranty, liens and related obligations tied to the prior credit facility were terminated and released. As a result, Strattec is no longer a borrower, guarantor or other credit support party for the joint venture’s debt with BMO Bank N.A.

When did the new ADAC-STRATTEC credit agreement with BMO become effective?

The new Amended and Restated Credit Agreement between ADAC-STRATTEC, LLC and BMO Bank N.A. became effective on April 30, 2026. This effective date also marks the termination of Strattec’s guaranty and related obligations under the prior joint venture credit agreement.

What was Strattec’s role under the prior ADAC-STRATTEC credit agreement?

Under the prior credit agreement dated June 28, 2012, Strattec was a guarantor of ADAC-STRATTEC’s obligations. Because of that guaranty, the company had previously disclosed the arrangement as a material definitive agreement affecting its potential financial exposure.

Is Strattec Security Corporation (STRT) a party to the new JV credit facility?

Strattec is not a borrower, guarantor, or other credit support party under the new joint venture credit agreement. The facility is between ADAC-STRATTEC, LLC and BMO Bank N.A., meaning Strattec’s direct obligations tied to this particular debt arrangement have been removed.

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Accepted by SEC EDGAR 04/30/2026 - 04:30 PM EDT Learn about SEC filing dates

false000093303400009330342026-04-302026-04-30

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): April 30, 2026

STRATTEC SECURITY CORPORATION

(Exact Name of Registrant as Specified in Charter)

Wisconsin		0-25150		39-1804239
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)

3333 West Good Hope Road, Milwaukee, Wisconsin 53209

(Address of Principal Executive Offices, and Zip Code)

(414) 247-3333

Registrant’s Telephone Number, Including Area Code

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))  

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol		Name of each exchange on which registered
Common Stock, $.01 par value		STRT		The Nasdaq Global Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.02 Termination of a Material Definitive Agreement.

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. (formerly BMO Harris Bank N.A.), as amended (the “Prior JV Credit Agreement”).

The Company was a guarantor under the Prior JV Credit Agreement, and, as a result, previously disclosed the Prior JV Credit Agreement as a material definitive agreement. In connection with the effectiveness of the New JV Credit Agreement, the Company’s guaranty, liens and related obligations under the Prior Credit Agreement were terminated and released. The Company is not a borrower, guarantor or other credit support party under the New JV Credit Agreement.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

STRATTEC SECURITY CORPORATION

By:/s/ Matthew P. Pauli

Matthew P. Pauli, Senior Vice President and

Chief Financial Officer

Date: April 30, 2026

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