During September 2021, Patrick J. Hansen, the Senior Vice President and Chief Financial Officer of STRATTEC SECURITY CORPORATION (the " Company"), informed the Company that he intends to retire during January 2022. Mr. Hansen expects to continue to be employed by the Company in his current roles through the effective date of his retirement, which has not yet been finally determined and is dependent, in part, on the timing for the transition of his duties and roles with the Company. The Company has commenced a succession process to identify and retain a successor for Mr. Hansen. It expects that Mr. Hansen will assist and support the Company in the transition of Mr. Hansen's responsibilities.