On August 25, 2023, GAMCO Investors, Inc. and Strattec Security Corporation?s Board of Directors agreed that Bruce M. Lisman and F. Jack Liebau, be added to the Company?s slate of director nominees at its 2023 annual meeting of shareholders, for nomination for appointment for a 3-year term. GAMCO Investors stated that the Board approved expanding the number of directors from 6 to 7 and approved a proposal for inclusion at the 2024 annual meeting to eliminate its staggered board structure. GAMCO Investors added that the Company would nominate Bruce M. Lisman and F. Jack Liebau for appointment as directors at the Company?s 2023 annual meeting.

GAMCO Investors stated that as a result, it would withdraw its nominees for election as directors at the 2023 annual meeting and would vote its shares, which it has voting authority over, in favor of the election of all of the Company?s nominees at the 2023 annual meeting. GAMCO Investors also expressed that the election of Bruce M. Lisman and F. Jack Liebau will add value to the Company's Board.