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Get filing alertsSTRATTEC authorizes up to $40M share buyback program, replacing 30-year-old plan
Filed May 28, 2026 · Period ending May 28, 2026 · ~1 min read
Key Changes
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Board approved new up to $40 million share repurchase program on May 28, 2026, replacing the company's original buyback authorization from 1996. Purchases may occur through open market, private transactions, or Rule 10b5-1 plans.
Item 8.01 view on EDGAR → -
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The program does not obligate STRATTEC to repurchase any specific dollar amount or number of shares, giving management flexibility to execute based on market conditions and capital allocation priorities.
Item 8.01 view on EDGAR →
Summary
STRATTEC Security Corporation announced a new up to $40 million share repurchase authorization, modernizing a capital return program that had been in place for three decades. The Board terminated the 1996-era buyback plan and replaced it with this updated framework, which allows the company to purchase shares through various methods including open market transactions and pre-arranged trading plans. For retail shareholders, this signals management's view that the stock may be undervalued and represents a commitment to returning capital.
However, the program is discretionary—the company is not required to buy back any specific amount. Investors should monitor quarterly filings to see if STRATTEC actually executes repurchases and at what pace, as this will reveal whether management views current prices as attractive or if the authorization is merely symbolic. The size of the program relative to STRATTEC's market cap will determine its potential impact on share count and earnings per share.
Section-by-Section Diff
Event · Item 7.01 — Regulation FD Disclosure
Item 7.01 — Regulation FD Disclosure filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On May 28, 2026, Strattec Security Corporation (the “Company”) announced that its Board of Directors has authorized a new share repurchase program to purchase up to $40.0 million of the Company’s outstanding common stock. This share repurchase program replaces the Company’s previous share repurchase program, which had been initiated in 1996 and was terminated in connection with the authorization of the new program.
The Board authorized a new $40 million share repurchase program, replacing a program that had been in place since 1996. The company may buy back shares through open market purchases, private transactions, or other means including Rule 10b5-1 plans. The program does not obligate the company to repurchase any specific amount of stock.
Event · Item 9.01 — Financial Statements and Exhibits
STRATTEC filed an 8-K attaching a press release issued May 28, 2026; no material event details disclosed in the filing body.
Added in current filing · verify on EDGAR →
Press Release of Strattec Security Corporation, issued May 28, 2026
The 8-K references a press release issued on May 28, 2026, but does not disclose the content or subject matter of the release in the filing body. The actual event or announcement is contained in Exhibit 99.1, which is not provided in this filing text.
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Figures/quotes linked to EDGAR · Narrative written by AI · May 28, 2026 · How we verify