STRT

Business Context and Reporting Period

This Form 8-K filing by STRATTEC SECURITY CORP reports events occurring on October 5, 2010, coinciding with the Company's annual meeting of shareholders. The filing focuses on corporate governance matters, specifically the election of directors and amendments to equity compensation plans.

Key Financial Metrics

The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is a current report regarding corporate events and does not contain financial statement data.

Material Changes and Corporate Actions

• Stock Incentive Plan Amendment: Shareholders approved an amendment to the Stock Incentive Plan to expand eligibility to include outside (non-employee) directors.
• Director Compensation: Following the approval, the Company granted 600 shares of restricted stock to each outside director.
• Director Election: Shareholders elected Frank J. Krejci to the Board of Directors for a three-year term ending at the 2013 annual meeting.

Voting Results and Management Commentary

The filing details the voting outcomes for two proposals at the Annual Meeting:

There is no management commentary regarding financial outlook, risks, or contingencies in this specific filing.

Investor Verification Checklist

• Verify the terms of the Amended and Restated Stock Incentive Plan (Exhibit 99.1) to understand the scope of the new director eligibility.
• Review the Form of Restricted Stock Grant Agreement (Exhibit 99.2) for vesting schedules and conditions attached to the 600 shares granted to directors.
• Confirm the voting record for Frank J. Krejci's election to ensure board composition accuracy.
• Note that this filing contains no financial performance data; refer to the most recent 10-Q or 10-K for financial metrics.