Strattec (NASDAQ: STRT) unveils new $40M stock buyback program
Rhea-AI Filing Summary
Strattec Security Corporation has authorized a new share repurchase program allowing the company to buy back up to $40 million of its outstanding common stock. This new authorization replaces a prior repurchase program that had been in place since 1996.
The company may repurchase shares at its discretion through open market purchases, block trades, accelerated share repurchase transactions and privately negotiated deals, including under Rule 10b5-1 trading plans, and in accordance with Rule 10b-18. The program has no fixed expiration date and can be modified, suspended or terminated by the board.
Management highlighted a strong cash position and confidence in generating cash flow, saying this supports both ongoing investment in Strattec’s transformation and growth strategy and returning capital to shareholders, while maintaining financial flexibility in the cyclical automotive industry. In the fourth fiscal quarter, Strattec bought 110,269 shares at an average price of $67.10 under the prior program.
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Insights
Strattec adds a flexible $40M buyback alongside its growth plans.
Strattec’s board has approved a new share repurchase program for up to $40 million of common stock, replacing a long-standing plan from 1996. Repurchases can be executed via open-market trades, block transactions, accelerated share repurchases and privately negotiated deals.
The company emphasizes a strong cash position and confidence in generating cash flow while funding its transformation and growth strategy. The program is discretionary, with no fixed end date, so actual repurchase activity will depend on stock price, trading volume, and broader market and business conditions.
During the fourth fiscal quarter, Strattec repurchased 110,269 shares at an average price of $67.10 under the prior plan, illustrating recent willingness to return capital. Future disclosures in company filings may provide more detail on cumulative repurchases and their role in Strattec’s broader capital allocation mix.
8-K Event Classification
Key Figures
Key Terms
Rule 10b5-1 trading plans regulatory
Rule 10b-18 regulatory
forward-looking statements regulatory
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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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 7.01 |
Regulation FD Disclosure. |
On May 28, 2026, Strattec Security Corporation (the “Company”) announced that its Board of Directors has authorized a new share repurchase program to purchase up to $40.0 million of the Company’s outstanding common stock. This share repurchase program replaces the Company’s previous share repurchase program, which had been initiated in 1996 and was terminated in connection with the authorization of the new program.
Under the share repurchase program, the Company may repurchase shares of its common stock from time to time through open market repurchases, privately negotiated transactions, or other means, including pursuant to Rule 10b5-1 trading plans. The timing and number of shares repurchased will depend on a variety of factors, including stock price, trading volume, and general business and market conditions. The share repurchase program does not obligate the Company to repurchase any of its common stock.
A copy of the press release announcing the share repurchase program is furnished hereto as Exhibit 99.1.
The information contained in this Item 7.01 and in Exhibit 99.1 to this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing, unless expressly incorporated by reference into such filing.
Item 9.01 |
Financial Statements and Exhibits. |
(d) Exhibits.
Exhibit Number |
Description |
99.1 |
Press Release of Strattec Security Corporation, issued May 28, 2026 |
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104 – Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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: May 28, 2026
STRATTEC ANNOUNCES NEW $40 MILLION SHARE REPURCHASE PROGRAM
May 28, 2026
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usability; and through to Hold, providing precision‑engineered latching solutions that give drivers confidence through proven strength, safety, and durability trusted by OEMs worldwide.
STRATTEC ANNOUNCES NEW $40 MILLION SHARE REPURCHASE PROGRAM
May 28, 2026
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As access becomes increasingly intelligent, connected, and central to vehicle experience, Strattec’s strategy is to expand its market share, further diversify its customers and geographic reach while becoming the most trusted access partner to drive long‑term growth across global automotive and mobility markets. For more information, visit www.strattec.com.
Safe Harbor Statement
Certain statements contained in this release contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words or phrases such as “anticipate,” “believe,” “could,” “expect,” “intend,” “may,” “planned,” “potential,” “should,” “will,” and “would.” Such forward-looking statements are inherently subject to many uncertainties in the Company’s operations and business environment. These uncertainties include general economic conditions, in particular, relating to the automotive industry, consumer demand for the Company’s and its customers’ products, competitive and technological developments, customer purchasing actions, changes in warranty provisions and customer product recall policies, work stoppages at the Company or at the location of its key customers as a result of labor disputes, foreign currency fluctuations, uncertainties stemming from U.S. trade policies, tariffs and reactions to the same from foreign countries, matters adversely impacting the timing and availability of component parts and raw materials needed for the production of the Company’s products and the products of its customers and fluctuations in costs of operation. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. Such uncertainties and other operational matters are discussed further in the Company’s quarterly and annual filings with the Securities and Exchange Commission. The forward-looking statements made herein are only made as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances occurring after the date of this release.
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Investor Contact: |
Deborah K. Pawlowski, IRC |