Proxy Results Form 8 K

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Approval of STRATTEC SECURITY CORPORATION 2024 Equity Incentive Plan

On October 23, 2024, STRATTEC SECURITY CORPORATION (the "Company") held its 2024 Annual Meeting of Shareholders (the "Annual Meeting"). At the Annual Meeting, the shareholders of the Company approved the STRATTEC SECURITY CORPORATION 2024 Equity Incentive Plan (the "2024 Plan"). Under the 2024 Plan, the Company may grant equity-based incentive awards to non-employee directors, officers, and other eligible participants. A total of 550,000 shares of the Company's common stock are reserved for issuance under the 2024 Plan. The awards available for grant under the 2024 Plan include stock options, stock appreciation rights, restricted shares of common stock, and restricted stock units. The 2024 Plan will be administered by the Compensation Committee of the Board of Directors and will expire on October 23, 2034.

The foregoing summary of the 2024 Plan is qualified in its entirety by reference to the detailed summary of the 2024 Plan set forth in the section "Proposal No. 4 - Approval and Adoption of the STRATTEC SECURITY CORPORATION 2024 Equity Incentive Plan" in the Company's definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission on September 20, 2024 (the "Proxy Statement") and to the full text of the 2024 Plan, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.