Linda M. Redmann
About Linda M. Redmann
Chief People Officer at Strattec Security Corporation, appointed effective November 11, 2024, with a background in human capital leadership at Korn Ferry, Bolder HR, and Zimmer Biomet, and strategic HR support for the SomaLogic IPO; she holds an MBA from Loyola University Chicago and a BBA from Tiffin University . During her tenure window (FY2025), Strattec delivered improved operating and shareholder outcomes: net sales +5.1% YoY to $565M, EBITDA +9.3% to $37.5M, cash flow from operations up to $71.7M, and FY2025 TSR of ~+149% (95th percentile in Russell 2000), reflecting company programs emphasizing EBITDA and cash generation . The Board emphasized alignment via refreshed compensation design, anti-hedging/anti-pledging trading policies, and a clawback policy covering executive incentive compensation .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Korn Ferry | Human capital leadership (roles not specified) | Not disclosed | Guided cultural transformations and organizational design |
| Bolder HR | Human capital leadership (roles not specified) | Not disclosed | Led organizational change to support growth |
| Zimmer Biomet | Human capital leadership (roles not specified) | Not disclosed | Drove M&A integration to support business growth |
| SomaLogic | Strategic HR support for IPO | Not disclosed | Prepared people/processes for private-to-public transition |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| None disclosed in proxy for Linda M. Redmann | — | — | — |
Fixed Compensation
- Not disclosed. FY2025 NEOs were CEO (Slater), CFO (Pauli), and COO (Guillot); proxy compensation tables and employment agreement terms were provided for NEOs only .
Performance Compensation
Company STIP (annual cash incentive) – design and FY2025 outcomes
- Program covered NEOs and substantially all U.S. employees; payouts based entirely on consolidated EBITDA and Cash Flow from Operations (50%/50%), with payouts from 0% to 200% of target .
- FY2025 performance significantly exceeded targets; NEO payouts were at 200% of target .
| Metric | Threshold | Target | Maximum | FY2025 Result | Payout % of Target |
|---|---|---|---|---|---|
| EBITDA ($MM) | $20.6 | $22.9 | $34.3 | $41.6 | 200% |
| Cash Flow from Operations ($MM) | $38.7 | $51.7 | $64.6 | $71.6 | 200% |
Long-term incentives (PSUs and RSAs) – program structure
- RSAs: Time-based vesting in three equal annual tranches (general program practice) .
- PSUs: 3-year performance cycle (FY2025–FY2027), vesting based on EBITDA margin achievement (threshold 50% vesting at 80% of target; max 200% at 120% of target) .
- FY2025 EBITDA margin achieved: 6.6%; implies year-two target margin of 7.6% (prior year +100 bps) .
| PSU Cycle | Metric | Year 1 Actual | Year 2 Target | Vesting Scale |
|---|---|---|---|---|
| FY2025–FY2027 | EBITDA Margin (%) | 6.6% | 7.6% | 50% at 80% of target; 200% at 120% |
Company performance context (FY2024 → FY2025)
| Metric | FY2024 | FY2025 |
|---|---|---|
| Net Sales ($MM) | $538 | $565 |
| EBITDA ($MM) | $34.4 | $37.5 |
| Cash Flow from Operations ($MM) | $12.2 | $71.7 |
| TSR ($ initial 100) | FY2024 | FY2025 |
|---|---|---|
| Cumulative TSR value | $75.76 | $184.91 |
Equity Ownership & Alignment
- Trading policies prohibit executive officers from hedging, short sales, margin accounts, and pledging Strattec securities; all executive transactions require pre-clearance with the CFO or designee .
- Clawback policy mandates recovery of erroneously awarded incentive compensation following an accounting restatement (SEC/Nasdaq compliant) .
- Stock ownership guidelines (NEOs): CEO 5x base salary; other NEOs 2x; executives must hold all net vested shares until guideline met .
- Shares outstanding: 4,160,284 as of August 15, 2025; principal holders disclosed; insider ownership aggregated at the company level in proxy summary .
Employment Terms
- Appointed Chief People Officer effective November 11, 2024 .
- Equity eligibility governed by the 2024 Equity Incentive Plan (550,000 shares reserved; RSAs/RSUs/Options/SARs permitted; minimum 1-year vesting with limited exceptions; change-of-control provisions allow full vesting upon qualifying termination within 3 months prior to or 24 months post-CoC; no option/SAR repricing without shareholder approval) .
- Company policies include anti-hedging/anti-pledging and a clawback; no excise tax gross-ups per compensation governance practices .
Compensation Committee Analysis and Peer Group
- Independent consultant Pay Governance supported program redesign (peer benchmarking, ownership guidelines, incentive structures) .
- FY2025 compensation peer group (industrial/auto adjacencies), e.g., Methode Electronics, Stoneridge, NN, Inc., Allient, Mayville Engineering, Vishay Precision Group, Miller Industries, Power Solutions International, Motorcar Parts of America, etc. .
- 2024 Say-on-Pay support: 78.55% “For”; 2024 Equity Plan adoption approved (61.10% of eligible shares) .
Risk Indicators & Governance Signals
- Strong governance enhancements: declassified board (annual elections), proxy access by-laws, refreshed board composition, independent chair, and adoption of ERM and FX hedging policies .
- No related-party transactions in FY2025; director committee independence and 100% attendance noted .
Investment Implications
- Alignment: Company-wide prohibition on hedging/pledging and clawback enforcement reduces misalignment risk; long-term PSU focus on EBITDA margin ties executive equity to durable profitability improvements, a positive signal for retention and execution discipline .
- Performance tailwinds: FY2025 overachievement on EBITDA and cash flow drove max STIP payouts and strong TSR; as CPO, Redmann’s mandate over culture, accountability, and talent systems is leveraged against financial metrics embedded in incentives—supportive for continued operational predictability .
- Retention/trading pressure: Absence of disclosed individual grants for Redmann limits visibility into her vesting/sale overhang; nevertheless, plan rules (three-year PSU cycles, one-year minimum vesting, double-trigger CoC vesting) and ownership holding requirements for NEOs (policy precedence) mitigate near-term sell pressure across leadership cohorts .
- Benchmarking and governance: Use of a relevant industrial/auto peer set and strong say-on-pay support lowers pay inflation or misalignment risk; governance upgrades (declassification, proxy access) enhance shareholder responsiveness—constructive for valuation multiples tied to governance quality .