STRATTEC (STRT) SVP Chey Receives Restricted Stock & Performance Units

What Happened

• Chey Becker-Varto, SVP & Chief Commercial Officer of STRATTEC SECURITY CORP (STRT), received equity awards on September 1, 2026: 1,498 restricted shares and 1,498 performance stock units (PSUs). Both grants show an acquisition price of $0.00 (no cash paid). The PSU award is a derivative/contingent grant that may convert into shares depending on performance.

Key Details

• Transaction date(s) and price(s): 2026-09-01; restricted shares and PSUs granted at $0.00 per share.
• Grant amounts: 1,498 restricted stock shares; 1,498 performance stock units.
• Shares owned after transaction: Not reported in the filing.
• Vesting/performance notes:
  • Restricted stock vests pro rata over three years (one-third on each anniversary: 9/1/2027, 9/1/2028, 9/1/2029). (Footnote F1)
  • Each PSU is a contingent right to one share based on STRATTEC’s EBITDA over a three‑year performance period ending 7/1/2029, with a modifier based on relative total shareholder return. (Footnote F2)
• Filing timeliness: Report filed 2026-09-03 for transactions dated 2026-09-01 (appears timely).

Context

• These awards are compensation-based grants, common for executives; they are not open-market purchases or sales and do not by themselves signal immediate buying or selling pressure.
• PSUs are derivative/contingent awards and may result in issuance of shares only if performance conditions are met (and may be adjusted by the TSR modifier).