Current Report Filing (8-k)
October 09 2020 - 4:02PM
Edgar (US Regulatory)
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): October 6, 2020
STRATTEC SECURITY CORPORATION
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(Exact name of registrant as specified in charter)
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Wisconsin
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(State or other jurisdiction of incorporation)
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0-25150
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39-1804239
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(Commission File Number)
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(I.R.S. Employer I.D. Number)
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3333 West Good Hope Road
Milwaukee, WI
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53209
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(Address of Principal Executive Offices)
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(Zip Code)
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(414) 247-3333
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(Registrant's telephone number; including area code)
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Securities registered or to be registered pursuant to Section 12(b) of the Act:
Title of each class
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Trading symbol(s)
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Name of exchange on which registered
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Common stock, $.01 par value
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STRT
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The Nasdaq Global Stock Market
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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):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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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.
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Changes in Registrant's Certifying Accountant.
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On October 6, 2020, STRATTEC SECURITY CORPORATION (the "Company")
dismissed Deloitte & Touche LLP as its independent public accountants and appointed Crowe LLP as its new independent public accountants. The decision to dismiss Deloitte & Touche and to retain Crowe was approved by the Company's Audit Committee on October 6, 2020.
Deloitte & Touche's reports on the Company's consolidated financial statements for each of the fiscal years ended June 28, 2020 and June 30, 2019
did not contain an adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles, except the audit report on our financial statements as of and for the fiscal years ended June
28, 2020 and June 30, 2019 did contain an explanatory paragraph related to our adoption of a new accounting principle.
During the Company's two most recent fiscal years and through October 6, 2020, there were no disagreements with Deloitte & Touche on any matter of
accounting principles or practices, financial statement disclosure, or auditing scope or procedure which, if not resolved to Deloitte & Touche'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 Deloitte & Touche with a copy of the foregoing disclosures and has requested that Deloitte & Touche 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 Deloitte & Touche's letter to the Securities and Exchange Commission is attached to this report as
Exhibit 16.1.
During the fiscal years ended June 28, 2020 and June 30, 2019, and the subsequent interim period through October 6, 2020, the Company did not consult
with Crowe 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.
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Financial Statements and Exhibits.
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16.1
-- Letter of Deloitte & Touche LLP dated October 9, 2020 concerning change in the registrant's certifying accountant.
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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STRATTEC SECURITY CORPORATION
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Date: October 9, 2020
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By:
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/s/ Patrick J. Hansen
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Patrick J. Hansen, Senior Vice President and
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Chief Financial Officer
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