STRATTEC (STRT) Amended Form 4: Vesting, Withheld Taxes, Ownership Correction
Rhea-AI Filing Summary
Richard P. Messina, Vice President and Chief Technical Officer of STRATTEC SECURITY CORP (STRT), filed an amended Form 4 reporting corrections to prior insider ownership amounts and recent restricted stock activity. The amendment clarifies that 320 shares were disposed on 08/22/2025 and another 320 shares were disposed on 08/23/2025, and that 804 restricted shares were reported as acquired on 08/22/2025. The filing notes 950 shares were withheld to satisfy tax liabilities upon vesting, and the restricted stock vests pro rata over three years with one-third vesting each August 22 in 2026, 2027 and 2028. The amendment corrects the previously reported beneficial ownership amounts and states the correction does not affect the underlying transactions.
Positive
- Amendment filed to correct ownership amounts, improving disclosure accuracy
- Restricted stock vesting schedule disclosed (one-third each August 22, 2026–2028), clarifying future insider holdings
- Tax-withholding on vesting documented (950 shares withheld), showing administrative handling of compensation
Negative
- None.
Insights
TL;DR: Routine insider restricted stock vesting and tax-withholding disposals; amendment corrects reported ownership counts, no change to underlying transactions.
The Form 4/A shows a common pattern: restricted stock grant recognition (804 shares) with a standard three-year pro rata vesting schedule and tax-withholding where 950 shares were withheld. Two small disposals (320 shares each on consecutive dates) are recorded as dispositions, and the amendment corrects the beneficiary counts reported previously without altering transaction substance. For investors, these are disclosure and reporting adjustments rather than operational or financial developments affecting company performance.
TL;DR: Amendment improves accuracy of insider holdings disclosure; transactions appear to be administrative (vesting/tax-withholding) rather than opportunistic trading.
The filing was amended solely to correct amounts in Column 5 of the original Form 4; the explanation explicitly states the correction has no effect on the transactions. The use of Rule 16b-3 exemption for tax-withholding indicates the company followed standard processes for equity compensation. The signature via power of attorney is properly executed. No material governance issues are disclosed in this amendment.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock, par value $0.01 per share | 320 | $0.00 | -- |
| Tax Withholding | Common Stock, par value $0.01 per share | 320 | $0.00 | -- |
| Grant/Award | Common Stock, par value $0.01 per share | 804 | $0.00 | -- |
Footnotes (1)
- Shares withheld for payment of tax liability upon vesting of 950 shares of restricted stock; exempt under Rule 16b-3. This Form 4/A is being filed solely to correct the amounts of securities beneficially owned by the Reporting Person that were reported in Column 5 of Table I of the Form 4 filed on August 26, 2025. This correction has no effect on the transaction(s) previously reported. Shares of restricted stock which vest pro rata over a three year period on the anniversary of the date of grant (i.e., one-third vest on each of August 22, 2026, August 22, 2027, and August 22, 2028).
