Thomas W. Florsheim, Jr.
About Thomas W. Florsheim, Jr.
Thomas W. Florsheim, Jr. is an independent director of Strattec (STRT), serving on the Board since 2012. He is Chairman and Chief Executive Officer of Weyco Group, Inc. (NASDAQ: WEYS) and brings public-company leadership experience with expertise in M&A, financial oversight, compensation, and global operations; age 67 per the 2025 proxy biography . He is currently a member of the Audit Committee, a member of the Nominating & Corporate Governance Committee, and Chair of the Compensation Committee at Strattec . The Board has determined he is independent under NASDAQ listing standards .
Past Roles
- No additional prior roles were disclosed for Mr. Florsheim in Strattec’s 2025 proxy beyond his current role at Weyco Group .
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Weyco Group, Inc. (NASDAQ: WEYS) | Chairman & Chief Executive Officer | Since 2002 | Public-company executive role |
Board Governance
| Governance Item | FY 2025 Detail |
|---|---|
| Independence | Independent director under NASDAQ standards |
| Board tenure at STRT | Director since 2012 |
| Committees | Audit (member); Compensation (Chair); Nominating & Corporate Governance (member) |
| Board meetings held | 5 meetings; all directors who served in FY2025 attended >75% of Board and applicable committee meetings |
| Committee meetings held | Audit: 9; Compensation: 6; Nominating & Corporate Governance: 5 |
| Executive sessions | Non-employee director executive sessions held at each Board meeting |
| Annual meeting attendance | “All but one” directors attended the Oct 23, 2024 Annual Meeting (individual attendance not identified) |
Fixed Compensation (Non-Employee Director Pay – FY2025)
- Program structure: Annual retainer $170,000, paid $85,000 in cash (quarterly) and $85,000 in restricted stock granted generally on the annual meeting date, vesting at the next annual meeting; transitional additional $50,000 RSU for prior-year service as the program shifted from arrears; director cash incentive eliminated .
- Additional annual chair retainers: Board Chair $60,000; Audit Chair $20,000; Compensation Chair $15,000; Nominating & Corporate Governance Chair $15,000 .
| Component | Amount |
|---|---|
| Fees Earned or Paid in Cash (FY2025) | $75,000 |
| Stock Awards (grant date fair value, Oct 25, 2024) | $137,256 |
| Non-Equity Incentive | $0 |
| All Other Compensation | $0 |
| Total | $212,256 |
Notes:
- Equity awards reflect ASC 718 grant-date fair value; vest on the following annual meeting date; transitional $50,000 RS for fiscal 2024 service plus $85,000 RS for fiscal 2025 service were implemented in FY2025 .
Performance Compensation
| Element | Detail |
|---|---|
| Performance-based director pay | None; non-employee directors do not participate in an annual cash incentive program under the revised framework |
Other Directorships & Interlocks
| Company | Role | Interlock/Network Relevance |
|---|---|---|
| Weyco Group, Inc. (NASDAQ: WEYS) | Chairman & CEO (public) | Strattec director Tina Chang serves on Weyco’s board since 2007, creating a board interlock via Weyco |
- Potential implications: Interlocks can increase information flow but may raise perceived network ties; no related-party transactions were disclosed in FY2025 (see Related Party section) .
Expertise & Qualifications
- Public-company leadership (CEO/Chair), M&A, financial oversight, compensation matters, organizational development; exposure to manufacturing, marketing, and global operations .
- Committee leadership: Chair of STRT’s Compensation Committee (FY2025) .
Equity Ownership
| As of | Total Beneficial Ownership (shares) | Percent of Class | Sole Voting & Investment Power | Sole Voting Power Only (Unvested RS) | Shares Outstanding Basis |
|---|---|---|---|---|---|
| Aug 15, 2025 | 18,455 | 0.4% | 15,548 | 2,907 | 4,160,284 |
- Section 16(a) compliance: Company reports no delinquent filings by directors/officers/10% holders in FY2025 .
- Hedging/pledging policies: Directors and employees are prohibited from hedging, shorting, maintaining margin accounts holding STRT securities, or pledging STRT securities; all trades require pre-clearance .
Related Party Transactions (Conflicts)
- Strattec disclosed no related party transactions in FY2025 and outlined Audit Committee oversight for any such matters if they arise .
Governance Assessment
-
Strengths:
- Independent status, multi-committee involvement, and Compensation Committee chair role support board effectiveness and pay oversight .
- Attendance: Board held 5 meetings; all directors exceeded the 75% attendance threshold; executive sessions at every meeting enhance independent oversight .
- Alignment and controls: Prohibitions on hedging/pledging, mandatory trade pre-clearance, and adoption of a clawback policy bolster investor protections .
- No related party transactions disclosed; clean Section 16 compliance in FY2025 .
-
Watchpoints:
- External interlock via Weyco: Thomas W. Florsheim, Jr. (WEYS CEO/Chair) and fellow STRT director Tina Chang (WEYS director) serve together at Weyco; monitor for potential perceived network effects in compensation/governance decision-making (no related-party dealings disclosed) .
- Director equity is time-based rather than performance-based; while typical for small-cap boards, it lacks explicit performance metrics (STRT removed director cash incentive in FY2025) .