Business Context and Reporting Period
This Form 8-K filing by STRATTEC SECURITY CORP reports on the results of the 2019 Annual Meeting of Shareholders held on October 8, 2019. The filing details the outcomes of shareholder votes regarding director elections, executive compensation, and corporate governance amendments.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance and voting results rather than financial performance.
Material Changes and Voting Results
A total of 3,806,642 shares were eligible to vote, with 3,065,905 shares represented at the meeting. The following matters were approved:
- Election of Directors: Frank J. Krejci was elected for a three-year term expiring in 2022. He received 2,902,826 votes for and 163,079 votes withheld.
- Executive Compensation: Shareholders approved the advisory vote on executive compensation with 2,884,050 votes for, 161,714 against, and 20,141 abstentions.
- Articles of Incorporation Amendment: Shareholders approved an amendment to implement a majority voting standard for uncontested director elections. The vote was 3,025,829 for, 22,054 against, and 18,022 abstentions.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for future guidance, management outlook, specific risks, contingencies, or unusual items. The document is limited to the reporting of the Annual Meeting outcomes.
Key Facts for Investor Verification
- Frank J. Krejci was re-elected to the Board of Directors for a term ending in 2022.
- Shareholders approved a majority voting standard for uncontested director elections.
- Shareholder approval was granted for the company's executive compensation plan.
- Approximately 80.5% of eligible shares were represented at the Annual Meeting.