Business Context and Reporting Period
This Form 8-K filing by STRATTEC SECURITY CORP covers events occurring on October 10, 2017. The report details the results of the Company's 2017 Annual Meeting of Shareholders and the declaration of a quarterly dividend.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The primary financial disclosure is the declaration of a quarterly dividend, though the specific dividend amount per share is not stated in the body of this report (referenced only in an attached press release).
Material Changes and Voting Results
The Annual Meeting saw significant shareholder participation with 3,098,005 shares represented out of 3,699,754 shares eligible to vote. Key outcomes include:
- Election of Directors: Michael J. Koss and David R. Zimmer were elected to three-year terms expiring in 2020.
- Michael J. Koss: 3,021,589 votes for; 76,416 votes withheld.
- David R. Zimmer: 2,663,519 votes for; 434,486 votes withheld.
- Executive Compensation (Say-on-Pay): Shareholders approved the advisory vote on executive compensation with 3,003,028 votes for and 88,374 votes against.
- Compensation Vote Frequency: Shareholders voted to hold future advisory votes on executive compensation annually (every one year). The next vote is scheduled for the 2018 Annual Meeting.
Guidance, Outlook, and Risks
The filing does not contain management guidance, financial outlook, or specific risk factors. It notes that the information provided, including the press release regarding the dividend, is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934.
Investor Verification Checklist
- Verify the specific quarterly dividend amount per share in the attached Exhibit 99.1 (Press Release), as it is not listed in the main text.
- Confirm the payment date and record date for the declared dividend.
- Review the full Proxy Statement for detailed executive compensation data referenced in Proposal 2.
- Monitor the 2018 Annual Meeting for the next required advisory vote on executive compensation.