UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):  June 1, 2021

Securities registered or to be registered pursuant to Section 12(b) of the Act:

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging Growth Company          ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

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Section 1 - Registrant's Business and Operations

Effective as of June 1, 2021, STRATTEC SECURITY CORPORATION (the "Company"), entered into a seventh amendment (the "STRATTEC Amendment") to its August 1, 2011 Credit Agreement, as previously amended by an Amendment No. 1 dated December 27, 2013, an Amendment No. 2 dated June 25, 2015, an Amendment No. 3 dated June 24, 2016, an Amendment No. 4 dated June 26, 2017, an Amendment No. 5 dated September 28, 2018 and an Amendment No. 6 dated October 28, 2019 (collectively, the "Credit Agreement"), with BMO Harris Bank N.A., as lender.  The STRATTEC Amendment extends the maturity date or term of the Credit Agreement for an additional two years until August 1, 2024 and makes certain other changes described in the STRATTEC Amendment.  The STRATTEC Amendment is attached hereto as Exhibit 10.1 and is incorporated herein by reference.

Additionally, effective as of June 1, 2021, ADAC-STRATTEC, LLC ("ADAC-STRATTEC"), a majority owned subsidiary of the Company, entered into an eighth amendment (the "ADAC-STRATTEC Amendment") to its June 28, 2012 Credit Agreement, as previously amended by an Amendment No. 1 dated January 22, 2014, an Amendment No. 2 dated June 25, 2015, an Amendment No. 3 dated April 27, 2016, an Amendment No. 4 dated June 26, 2017, an Amendment No. 5 dated March 27, 2018, an Amendment No. 6 dated December 30, 2018 and an Amendment No. 7 dated October 28, 2019 (collectively, the "ADAC-STRATTEC Credit Agreement"), with BMO Harris Bank N.A., as lender.  The ADAC-STRATTEC Amendment extends the maturity date or term of the ADAC-STRATTEC Credit Agreement for an additional two years until August 1, 2024 and makes certain other changes described in the ADAC-STRATTEC Amendment.  The ADAC-STRATTEC Amendment is attached hereto as Exhibit 10.2 and is incorporated herein by reference.

Section 2 - Financial Information

As described above under Item 1.01, on June 1, 2021, each of the Company and ADAC-STRATTEC entered into amendments to their respective credit agreements with BMO Harris Bank N.A. extending the term of each credit facility for an additional two years until August 1, 2024 and making certain other changes thereto described in the STRATTEC Amendment or ADAC-STRATTEC Amendment, as applicable.

Section 9 - Financial Statements and Exhibits

The following exhibits are filed herewith:

Exhibit 10.1 – Amendment No. 7 to STRATTEC Credit Agreement, dated as of June 1, 2021, between STRATTEC SECURITY CORPORATION and BMO Harris Bank N.A., as lender.

Exhibit 10.2 – Amendment No. 8 to ADAC-STRATTEC Credit Agreement, dated as of June 1, 2021, between ADAC-STRATTEC, LLC and BMO Harris Bank N.A., as lender.

Exhibit 104 – Cover Page Interactive Data File (embedded within the Inline XBRL document).

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 thereunto duly authorized.

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