GREENWICH, Conn.—GAMCO Investors, Inc., along with Associated Capital Group (NYSE:AC), Inc., GGCP, Inc., and Mario J. Gabelli, reported a sale of shares in STRATTEC Security Corp (NASDAQ:STRT), a company that has seen its stock surge nearly 100% over the past year, according to a recent filing with the Securities and Exchange Commission. According to InvestingPro, the company maintains a "GREAT" financial health score with strong fundamentals. The transaction, dated December 10, 2024, involved the sale of 200 shares of common stock at a price of $41.7725 per share, totaling $8,354.
Following this transaction, the reporting entities collectively hold 300 shares. The entities involved in the sale have interests in the shares through various investment partnerships, as noted in the filing. The footnotes in the report indicate that the reported amount of securities reflects the total held by the entity, which exceeds the indirect pecuniary interests of the reporting persons.
In other recent news, STRATTEC Security Corporation has been making significant changes to its corporate structure. The company announced the appointment of Chey Becker-Varto as Chief Commercial Officer and Linda Redmann as Chief People Officer, a move aimed at driving earnings growth. Both Becker-Varto and Redmann bring a wealth of experience from their previous roles at various organizations.
In addition to the new appointments, STRATTEC has also made substantial strides in its corporate governance. The company's shareholders approved the STRATTEC Security Corporation 2024 Equity Incentive Plan, which reserves 550,000 shares of common stock for equity-based awards. These changes are effective immediately, with the board's composition now set to be re-evaluated at each year's annual meeting.
STRATTEC's President and CEO, Jennifer L. Slater, was granted long-term equity awards as part of the company's 2024 Equity Incentive Plan. The awards are designed to align the CEO's interests with those of the company and its shareholders over a multi-year period. These recent developments emphasize STRATTEC's commitment to aligning the interests of its leadership with those of its shareholders.
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