STRATTEC SECURITY CORPORATION filed SEC Form 8-K: Termination of a Material Definitive Agreement
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Item 1.02 |
Termination of a Material Definitive Agreement. |
Effective as of April 30, 2026, ADAC-STRATTEC, LLC (“ADAC-STRATTEC”), a majority owned joint venture subsidiary of Strattec Security Corporation (the “Company”), entered into an Amended and Restated Credit Agreement with BMO Bank N.A. (the “New JV Credit Agreement”) that replaced ADAC-STRATTEC’s existing credit agreement, dated June 28, 2012, with BMO Bank N.A. (formerly BMO Harris Bank N.A.), as amended (the “Prior JV Credit Agreement”).
The Company was a guarantor under the Prior JV Credit Agreement, and, as a result, previously disclosed the Prior JV Credit Agreement as a material definitive agreement. In connection with the effectiveness of the New JV Credit Agreement, the Company’s guaranty, liens and related obligations under the Prior Credit Agreement were terminated and released. The Company is not a borrower, guarantor or other credit support party under the New JV Credit Agreement.
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: April 30, 2026