Form 4: STRATTEC SECURITY CORP Executive Dennis Bowe Acquires 2,850 Shares of Restricted Stock
SEC Form 4 Filing
Dennis Bowe, VP & CFO of STRATTEC SECURITY CORP, acquired 2,850 shares of restricted stock on August 20, 2024, which vest over three years.
Summary
- On August 20, 2024, Dennis Bowe, the VP & CFO of STRATTEC SECURITY CORP, acquired 2,850 shares of restricted stock.
- The shares were granted at a price of $0.00 per share.
- These shares vest pro rata over three years, with one-third vesting on each anniversary of the grant date: August 20, 2025, August 20, 2026, and August 20, 2027.
- Following the transaction, Mr. Bowe directly owns 10,200 shares of STRATTEC SECURITY CORP.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive as it reflects standard executive compensation practices and aligns management interests with shareholders.
Positives
- The acquisition of restricted stock aligns the executive's interests with the long-term performance of the company.
Industry Context
This is a routine disclosure related to executive compensation and is common in publicly traded companies to align management's interests with shareholders.
Stakeholder Impact
- The acquisition of restricted stock by a key executive can positively influence shareholder confidence.
Key Dates
| Date | Description |
|---|---|
| 08/20/2024 | Date of transaction: Dennis Bowe acquired 2,850 shares of restricted stock. |
| 08/20/2025 | First vesting date: One-third of the restricted stock vests. |
| 08/20/2026 | Second vesting date: One-third of the restricted stock vests. |
| 08/20/2027 | Final vesting date: The remaining one-third of the restricted stock vests. |
| 08/26/2024 | Date of Form 4 filing. |
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