Strattec Insider Award: 1,704 Restricted Shares and Performance RSUs for SVP

Rhea-AI Filing Summary

Strattec Security Corp (STRT) reported an insider equity award by Becker-Varto Chey, SVP & Chief Commercial Officer. On 08/22/2025 Ms. Chey was granted 1,704 shares of restricted stock that vest pro rata over three years (one-third each on 08/22/2026, 08/22/2027 and 08/22/2028). In addition, she received 1,704 performance restricted stock units tied to the issuer's EBITDA percentage for a three-year performance period ending 07/02/2028; those PRSUs represent contingent rights to receive common stock if performance conditions are met. Following the reported transactions, Ms. Chey beneficially owns 1,704 shares directly. The Form 4 was signed via power of attorney on 08/26/2025.

Positive

• Grant of 1,704 restricted shares with clear vesting dates (08/22/2026, 08/22/2027, 08/22/2028) which supports retention.
• 1,704 performance restricted stock units tied to EBITDA over a three-year period ending 07/02/2028, aligning compensation with company performance.
• Filing executed and signed via power of attorney on 08/26/2025, providing timely disclosure of insider holdings.

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine, compensation-driven equity grants align executive incentives to multi-year EBITDA performance.

The report documents standard executive compensation instruments: time-based restricted stock and performance-restricted stock units tied to EBITDA over a three-year window. Time-vesting restricted shares provide retention incentives through 2028 while PRSUs link pay to a measurable financial metric, aligning the officer's interests with company profitability targets. The award size (1,704 shares each instrument) appears modest and is typical for non-CEO senior officers, suggesting limited near-term voting or control impact. Documentation and filing via power of attorney are properly executed.

Compensation Analyst

TL;DR: Mix of time-vesting and performance-vesting equity is a common compensation practice to retain and incentivize executives.

The grant combines one-third annual vesting over three years for restricted stock with performance RSUs contingent on EBITDA for the three-year period ending 07/02/2028. This structure balances retention (time-based vesting) with performance alignment (EBITDA hurdle). The Form 4 shows the grants at $0 reported price, reflecting awarded equity rather than market purchase. Beneficial ownership post-grant is shown as 1,704 shares direct, indicating awards have not yet materially changed insider ownership stake disclosure.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Becker-Varto Chey

(Last) (First) (Middle)

3333 WEST GOOD HOPE ROAD

(Street)

MILWAUKEE WI 53209

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
STRATTEC SECURITY CORP [ STRT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP & Chief Commercial Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/22/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.01 per share	08/22/2025		A		1,704(1)	A	$0	1,704	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Performance Restricted Stock Units	(2)	08/22/2025		A		1,704		(2)	09/30/2028	Common Stock, par value $0.01 per share	1,704	$0	1,704	D

Explanation of Responses:

1. Grant of shares of restricted stock which vest pro rata over three years on each anniversary of the grant date (i.e., one-third vest on each of August 22, 2026, August 22, 2027, and August 22, 2028).

2. Performance restricted stock units representing contingent rights to receive shares of the Issuer's Common Stock based upon the Issuer's EBITDA percentage over a three-year performance period ending July 2, 2028.

	/s/ J. Bret Treier, via Power of Attorney	08/26/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What did Becker-Varto Chey receive according to the STRT Form 4?

The filing shows a grant of 1,704 restricted shares and 1,704 performance restricted stock units on 08/22/2025.

When do the restricted shares vest for the STRT insider grant?

The restricted shares vest pro rata over three years: one-third on each of 08/22/2026, 08/22/2027 and 08/22/2028.

What performance metric applies to the PRSUs in the STRT filing?

The performance restricted stock units are contingent on the issuer's EBITDA percentage measured over a three-year performance period ending 07/02/2028.

How many shares does Becker-Varto Chey beneficially own after the reported transaction?

The Form 4 reports 1,704 shares beneficially owned following the reported transactions.

Was there any purchase price paid for the awarded securities in the filing?

The filing reports a price of $0 for both the restricted stock and the shares underlying the PRSUs, indicating they were awards rather than purchases.