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):  December 7, 2022

 
STRATTEC SECURITY CORPORATION
  
 
(Exact name of registrant as specified in charter)
  

 
Wisconsin
  
 
(State or other jurisdiction of incorporation)
  

0-25150
  
39-1804239
(Commission File Number)
  
(I.R.S. Employer I.D. Number)

3333 West Good Hope Road
Milwaukee, WI
  
 
53209
(Address of Principal Executive Offices)
  
(Zip Code)

 
(414) 247-3333
  
 
(Registrant's telephone number; including area code)
  

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

Title of each class
Trading symbol(s)
Name of exchange on which registered
Common stock, $.01 par value
STRT
The Nasdaq Global Stock Market

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):

☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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.☐

Section 4 – Matters Related to Accountants and Financial Statements

Item 4.01.
Changes in Registrant's Certifying Accountant.

On December 7, 2022, STRATTEC SECURITY CORPORATION (the "Company") dismissed Crowe LLP as its independent public accountants and appointed Deloitte & Touche LLP as its new independent public accountants.  The decision to dismiss Crowe and to retain Deloitte & Touche was approved by the Company's Audit Committee on December 7, 2022.

Crowe's reports on the Company's consolidated financial statements for each of the fiscal years ended July 3, 2022 and June 27, 2021 did not contain an adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles.

During the Company's two most recent fiscal years and through December 7, 2022, there were no disagreements with Crowe on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure which, if not resolved to Crowe's satisfaction, would have caused them to make reference to the subject matter in connection with their report on the Company's consolidated financial statements for such years; and there were no reportable events, as listed in Item 304(a)(1)(v) of SEC Regulation S-K.

The Company has provided Crowe with a copy of the foregoing disclosures and has requested that Crowe review such disclosures and provide a letter addressed to the Securities and Exchange Commission as specified by Item 304(a)(3) of Regulation S-K.  A copy of Crowe's letter to the Securities and Exchange Commission is attached to this report as Exhibit 16.1.

During the fiscal years ended July 3, 2022 and June 27, 2021, and the subsequent interim period through December 7, 2022, the Company did not consult with Deloitte & Touche LLP regarding any of the matters or events set forth in Item 304(a)(2)(i) and (ii) of Regulation S-K.

Section 9 - Financial Statements and Exhibits

Item 9.01.
Financial Statements and Exhibits.

 (d)
Exhibits





16.1 -- Letter of Crowe LLP dated December 12, 2022 concerning change in the registrant's certifying accountant.





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.
STRATTEC SECURITY CORPORATION
Date:  December 13, 2022


By:
/s/ Dennis Bowe
  


Dennis Bowe, Vice President and


Chief Financial Officer


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