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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 FORM 10-K
 þ
    
    Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 For the fiscal year ended June 29, 2008.
 o
    
    Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 Commission File Number 0-25150
 STRATTEC SECURITY CORPORATION
  Wisconsin
    
    39-1804239(State of Incorporation)
    
    (I.R.S. Employer Identification No.)
 3333 West Good Hope Road, Milwaukee, WI 53209
 (414) 247-3333  (Registrants telephone number, including area code)
  Title of each class
    
    Name of exchange on which registeredCommon Stock, $.01 par value
    
    The NASDAQ Stock Market
 (Title of Class)
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  Large accelerated filer o
    
    Accelerated filer þ
    
    Non-accelerated filer o
    
    Smaller reporting company o(Do not check if a smaller reporting company)
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Part of the Form 10-KDocument
    
    into which incorporatedPortions of the Annual Report to Shareholders for the
fiscal year ended June 29, 2008.
    
    I, II, IVPortions of the Proxy Statement dated August 29, 2008, for the
Annual Meeting of Shareholders to be held on October 7, 2008.
    
    III
 PROSPECTIVE INFORMATION
    2




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TABLE OF CONTENTS  PART IItem 1. BusinessItem 1A. Risk FactorsItem 1B. Unresolved Staff CommentsItem 2. PropertiesItem 3. Legal ProceedingsItem 4. Submission of Matters to a Vote of Security HoldersPART IIItem 5. Market for Registrants Common Equity, Related Stockholder Matters and Issuer Purchases of Equity SecuritiesItem 6. Selected Financial DataItem 7. Managements Discussion and Analysis of Financial Condition and Results of OperationsItem 7A. Quantitative and Qualitative Disclosures About Market RiskItem 8. Financial Statements and Supplementary DataItem 9. Changes In and Disagreements with Accountants on Accounting and Financial DisclosureItem 9A. Controls and ProceduresItem 9B. Other InformationPART IIIItem 10. Directors and Executive Officers and Corporate GovernanceItem 11. Executive CompensationItem 12. Security Ownership of Certain Beneficial Owners and Management and Related Shareholder MattersItem 13. Certain Relationships and Related Transactions and Director IndependenceItem 14. Principal Accountant Fees and ServicesPART IVItem 15. Exhibits and Financial Statement SchedulesSIGNATURESEXHIBIT INDEXAnnual Report to ShareholdersConsent of Independent Registered Public Accounting FirmCertificationCertificationSection 1350 Certifications    Table of Contents  
 PART I
 
 Item 1. Business
  Emerging Technologies
   Sources and Availability of Raw Materials
  Patents, Trademarks and Other Intellectual Property
    Dependence Upon Significant Customers
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Sales and Marketing
   Competition
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Research and Development
  Customer Tooling
  Environmental Compliance
    Employees
  Available Information
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Item 1A. Risk Factors
  
 Item 1B. Unresolved Staff Comments
  
 Item 2. Properties
  Location
    
    Type
    
    Sq. Ft.
    
    Owned or LeasedMilwaukee, Wisconsin
    
    Headquarters and General Offices; Component
Manufacturing, Assembly and Service Parts
Distribution
    
    
    352,000
    
    
    OwnedJuarez, Chihuahua Mexico
    
    Subsidiary Offices and Assembly
    
    
    97,000
    
    
    OwnedJuarez, Chihuahua Mexico
    
    Subsidiary Offices, Key Finishing Injection
Molding and Assembly Operations
    
    
    62,000
    
    
    LeasedEl Paso, Texas
    
    Finished Goods Warehouse
    
    
    38,000
    
    
    Leased**Troy, Michigan
    
    Sales and Engineering Office for Detroit
Customer Area
    
    
    7,700
    
    
    Leased**
 
 **
    
    Leased unit within a complex.  
 Item 3. Legal Proceedings
  
 Item 4. Submission of Matters to a Vote of Security Holders
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PART II
 
 Item 5. Market for Registrants Common Equity, Related Stockholder Matters and Issuer Purchases
of Equity Securities
   Total
    
    Average
    
    Total Number
    
    Maximum NumberNumber
    
    Price
    
    Of Shares Purchased
    
    Of Shares that MayOf Shares
    
    Paid Per
    
    As Part of Publicly
    
    Yet be PurchasedPeriod
    
    Purchased
    
    Share
    
    Announced Program
    
    Under the ProgramMarch 31, 2008 - May 4, 2008
    
    
    18,928
    
    
    $
    38.27
    
    
    
    18,928
    
    
    
    179,462May 5, 2008 - June 1, 2008
    
    
    1,400
    
    
    $
    36.78
    
    
    
    1,400
    
    
    
    178,062June 2, 2008 - July 29, 2008
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    178,062Total
    
    
    20,328
    
    
    $
    38.16
    
    
    
    20,328
    
    
    
    178,062
   
 Item 6. Selected Financial Data
  
 Item 7. Managements Discussion and Analysis of Financial Condition and Results of Operations
  
 Item 7A. Quantitative and Qualitative Disclosures About Market Risk
  
 Item 8. Financial Statements and Supplementary Data
   
 Item 9. Changes In and Disagreements with Accountants on Accounting and Financial Disclosure
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Item 9A. Controls and Procedures
     
 Item 9B. Other Information
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PART III
 
 Item 10. Directors and Executive Officers and Corporate Governance
   
 Item 11. Executive Compensation
   
 Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Shareholder
Matters
  Equity Compensation Plan Information
  Number of
    
    
    
    
    
    
    Number ofcommon shares to be
    
    
    
    
    
    
    common sharesissued upon exercise
    
    
    Weighted-average
    
    
    available for futureof outstanding
    
    
    exercise price of
    
    
    issuance underoptions,
    
    
    outstanding options,
    
    
    equityPlan Category
    
    warrants, and rights
    
    
    warrants, and rights
    
    
    compensation plansEquity compensation
plans approved by
shareholders
    
    
    187,780
    
    
    $
    58.74
    
    
    
    380,463Equity compensation
plans not approved
by shareholders
    
    
    
    
    
    
    
    
    
    
    Total
    
    
    187,780
    
    
    $
    58.74
    
    
    
    380,463
 
 Item 13. Certain Relationships and Related Transactions and Director Independence
  
 Item 14. Principal Accountant Fees and Services
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PART IV
 
 Item 15. Exhibits and Financial Statement Schedules
 (a)
    
    The following documents are filed as part of this report:
 (1)(i)
    
    Financial Statements  The following financial statements of the Company, included on pages 19 through 38 of the Companys 2008 Annual Report to Shareholders,
are incorporated by reference in Item 8 of this Form 10-K annual
report:Reports of Independent Registered Public Accounting FirmConsolidated Balance Sheets  as of June 29, 2008 and July 1, 2007Consolidated Statements of Income  years ended June 29, 2008, July 1, 2007 and July 2, 2006Consolidated Statements of Shareholders Equity  years ended June 29, 2008, July 1,
2007 and July 2, 2006Consolidated Statements of Cash Flows  years ended June 29, 2008, July 1, 2007 and July 2,
2006Notes to Financial Statements
 (2)
    
    Financial Statement ScheduleAll schedules have been omitted because they are not applicable or are not required, or
because the required information has been included in the Financial Statements or Notes thereto.(3)
    
    Exhibits. See Exhibit Index beginning on page 12.
 (b)
    
    ExhibitsSee Exhibit Index and the exhibits attached
hereto or previously filed as described on the Exhibit
Index beginning on page 12.(c)
    
    Financial Statement SchedulesNot required.
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SIGNATURES
  STRATTEC SECURITY CORPORATIONBy:
    /s/ Harold M. Stratton IIHarold M. Stratton IIChairman, President and Chief Executive Officer   Signature
    
    Title
    
    Date/s/ Harold M. Stratton II
    
    Chairman, President, Chief Executive
Officer, and Director
    
    August 29, 2008Harold M. Stratton II
    
    (Principal Executive Officer)/s/ Frank J. Krejci
    
    Director
    
    August 19, 2008Frank J. Krejci/s/ Michael J. Koss
    
    Director
    
    August 19, 2008Michael J. Koss/s/ Robert Feitler
    
    Director
    
    August 19, 2008Robert Feitler/s/ David R. Zimmer
    
    Director
    
    August 19, 2008David R. Zimmer/s/ Patrick J. Hansen
    
    Senior Vice President, Chief
Financial Officer, Secretary and Treasurer
    
    August 29, 2008Patrick J. Hansen
    
    (Principal Financial and Accounting Officer)
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##### Table of Contents



EXHIBIT INDEX TO ANNUAL REPORT
ON FORM 10-K
 Exhibit3.1 (2)
    
    Amended and Restated Articles of Incorporation of the Company
    
    *3.2 (9)
    
    By-laws of the Company
    
    *4.1 (11)
    
    Promissory Note dated November 1, 2007 by and between the Company and M&I Bank
    
    *10.1 (9) **
    
    Amended STRATTEC SECURITY CORPORATION Stock Incentive Plan
    
    *10.2 (9) **
    
    Form of Restricted Stock Grant Agreement
    
    *10.3 (3)(4)(5)(6)(7)(8)(12)**
    
    Employment Agreements between the Company and the identified executive officers
    
    *10.4 (1)(3)(4)(5)(6)(7)(8)(12)**
    
    Change In Control Agreements between the Company and the identified executive officers
    
    *10.5 (13) **
    
    Amended STRATTEC SECURITY CORPORATION Economic Value Added Plan for
Executive Officers and Senior Managers
    
    *10.6 (13) **
    
    Amended STRATTEC SECURITY CORPORATION Economic Value Added Plan for
Non-employee Members of the Board of Directors
    
    *10.7 (10) **
    
    Amended STRATTEC SECURITY
CORPORATION Supplemental Executive Retirement Plan
    
    *13
    
    Annual Report to Shareholders for the year ended June 29, 200821 (13)
    
    Subsidiaries of the Company
    
    *23.1
    
    Consent of Independent Registered Public Accounting Firm dated August 19, 200831.1
    
    Rule 13a-14(a) Certification for Harold M. Stratton II, Chairman and Chief
Executive Officer31.2
    
    Rule 13a-14(a) Certification for Patrick J. Hansen, Chief Financial Officer32 (14)
    
    18 U.S.C. Section 1350 Certifications
 
 *
    
    Previously filed**
    
    Management contract or compensatory plan or arrangement(1)
    
    Incorporated by reference from Amendment No. 1 to the Form 10 filed on January 20,
1995.(2)
    
    Incorporated by reference from Amendment No. 2 to the Form 10 filed on February 6,
1995.(3)
    
    Incorporated by reference from the June 27, 1999 Form 10-K filed on September
17, 1999.(4)
    
    Incorporated by reference from the July 1, 2001 Form 10-K filed on September 4,
2001.(5)
    
    Incorporated by reference from the June 30, 2002 Form 10-K filed on August 28,
2002.(6)
    
    Incorporated by reference from the June 29, 2003 Form 10-K filed on August 28,
2003.(7)
    
    Incorporated by reference from the September 26, 2004 Form 10-Q filed on
November 2, 2004.(8)
    
    Incorporated by reference from the March 27, 2005 Form 10-Q filed on April 29,
2005.(9)
    
    Incorporated by reference from the Form 8-K filed on October 7, 2005.(10)
    
    Incorporated by reference from the January 1, 2006 Form 10-Q filed on February
7, 2006.(11)
    
    Incorporated by reference from the September 30, 2007 Form 10-Q filed on
November 6, 2007.(12)
    
    Incorporated by reference from the April 1, 2007 Form 10-Q filed on May 8,
2007.(13)
    
    Incorporated by reference from the July 1, 2007 Form 10-K filed on August 30,
2007.(14)
    
    This certification is not filed for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended, or incorporated by reference into any filing under the
Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended. 12