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 30, 2018

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)

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

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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))

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 1 - Registrant's Business and Operations
 
Item 1.01
Entry into a Material Definitive Agreement
 
Effective as of December 30, 2018, ADAC-STRATTEC, LLC ("ADAC-STRATTEC"), a majority owned subsidiary of STRATTEC SECURITY CORPORATION (the "Company"), entered into a sixth amendment (the "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 and an Amendment No. 5 dated March 27, 2018 (collectively, the "ADAC-STRATTEC Credit Agreement"), with BMO Harris Bank N.A., as lender.  The Amendment extends the maturity date or term of the ADAC-STRATTEC Credit Agreement for an additional year until August 1, 2021, revises the applicable LIBOR margin for borrowings under the credit facility and makes certain other changes described in the Amendment.  The Amendment is attached hereto as Exhibit 10.1 and is incorporated herein by reference.

Section 2 - Financial Information
 
Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
 
As described above under Item 1.01, on December 30, 2018, ADAC-STRATTEC entered into an amendment to its credit agreement with BMO Harris Bank N.A. extending the term for an additional year until August 1, 2021 and making certain other changes to the ADAC-STRATTEC Credit Agreement described in the Amendment.
 
Section 9 - Financial Statements and Exhibits
 
Item 9.01
Financial Statements and Exhibits
 
  (d)   Exhibits
 
The following exhibit is filed herewith:
 
Exhibit 10.1 – Amendment No. 6 to ADAC-STRATTEC Credit Agreement, dated as of December 30, 2018, between ADAC-STRATTEC, LLC and BMO Harris Bank N.A., as lender.

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 31, 2018
      
 
By:
 /s/ Patrick J. Hansen
  
   
Patrick J. Hansen, Senior Vice President and
Chief Financial Officer