Universal Electronics Inc. Files Definitive Proxy Statement

Ticker: UEIC · Form: DEF 14A · Filed: Apr 25, 2024 · CIK: 101984

Universal Electronics Inc DEF 14A Filing Summary
FieldDetail
CompanyUniversal Electronics Inc (UEIC)
Form TypeDEF 14A
Filed DateApr 25, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$398,978, $250,000 b, $148,978, $235.1 million
Sentimentneutral

Sentiment: neutral

Topics: DEF 14A, Proxy Statement, Universal Electronics Inc., Executive Compensation, Corporate Governance

TL;DR

<b>Universal Electronics Inc. filed its definitive proxy statement on April 25, 2024.</b>

AI Summary

UNIVERSAL ELECTRONICS INC (UEIC) filed a Proxy Statement (DEF 14A) with the SEC on April 25, 2024. Filing type is DEF 14A, indicating a definitive proxy statement. Company is Universal Electronics Inc., SIC code 3651 (Household Audio & Video Equipment). Filing date is April 25, 2024, with a report period ending April 25, 2024. Includes data for fiscal years ending December 31, 2020, 2021, 2022, and 2023. Contains executive compensation data, including stock and option awards.

Why It Matters

For investors and stakeholders tracking UNIVERSAL ELECTRONICS INC, this filing contains several important signals. This filing is crucial for shareholders to understand executive compensation and corporate governance matters before voting. It provides detailed information on the company's financial performance and executive pay practices over the past few fiscal years.

Risk Assessment

Risk Level: low — UNIVERSAL ELECTRONICS INC shows low risk based on this filing. The filing is a routine DEF 14A, providing information to shareholders rather than announcing new material events.

Analyst Insight

Shareholders should review the executive compensation details and any proposals to be voted on at the upcoming meeting.

Key Numbers

  • 2024-04-25 — Filing Date (DEF 14A filing date)
  • 2024-04-25 — Report Period End Date (Conformed period of report)
  • 1231 — Fiscal Year End (Company fiscal year end)
  • 2023-12-31 — Most Recent Fiscal Year End (Data available for this fiscal year)
  • 2020-12-31 — Earliest Fiscal Year End (Data available for this fiscal year)

Key Players & Entities

  • UNIVERSAL ELECTRONICS INC (company) — Filer name
  • 3651 (dollar_amount) — Standard Industrial Classification code
  • DE (company) — State of incorporation
  • 330204817 (company) — IRS number
  • 480-530-3000 (company) — Business phone number
  • 2024-04-25 (date) — Filing date

FAQ

When did UNIVERSAL ELECTRONICS INC file this DEF 14A?

UNIVERSAL ELECTRONICS INC filed this Proxy Statement (DEF 14A) with the SEC on April 25, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by UNIVERSAL ELECTRONICS INC (UEIC).

Where can I read the original DEF 14A filing from UNIVERSAL ELECTRONICS INC?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by UNIVERSAL ELECTRONICS INC.

What are the key takeaways from UNIVERSAL ELECTRONICS INC's DEF 14A?

UNIVERSAL ELECTRONICS INC filed this DEF 14A on April 25, 2024. Key takeaways: Filing type is DEF 14A, indicating a definitive proxy statement.. Company is Universal Electronics Inc., SIC code 3651 (Household Audio & Video Equipment).. Filing date is April 25, 2024, with a report period ending April 25, 2024..

Is UNIVERSAL ELECTRONICS INC a risky investment based on this filing?

Based on this DEF 14A, UNIVERSAL ELECTRONICS INC presents a relatively low-risk profile. The filing is a routine DEF 14A, providing information to shareholders rather than announcing new material events.

What should investors do after reading UNIVERSAL ELECTRONICS INC's DEF 14A?

Shareholders should review the executive compensation details and any proposals to be voted on at the upcoming meeting. The overall sentiment from this filing is neutral.

How does UNIVERSAL ELECTRONICS INC compare to its industry peers?

Universal Electronics Inc. operates in the Household Audio & Video Equipment industry.

Are there regulatory concerns for UNIVERSAL ELECTRONICS INC?

This filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose information to shareholders.

Industry Context

Universal Electronics Inc. operates in the Household Audio & Video Equipment industry.

Regulatory Implications

This filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose information to shareholders.

What Investors Should Do

  1. Review the executive compensation details for named executive officers.
  2. Examine any proposals presented for shareholder vote.
  3. Understand the company's governance practices as outlined in the filing.

Key Dates

  • 2024-04-25: Filing of DEF 14A — Indicates the company is providing its definitive proxy statement to the SEC.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard disclosure document for proxy solicitations and does not represent a change from previous filings of the same type.

Filing Stats: 4,513 words · 18 min read · ~15 pages · Grade level 12 · Accepted 2024-04-25 08:55:31

Key Financial Figures

  • $398,978 — nership among independent directors was $398,978, including time-based restricted stock
  • $250,000 b — eded the minimum ownership guideline of $250,000 by $148,978. New independent directors ha
  • $148,978 — imum ownership guideline of $250,000 by $148,978. New independent directors have five ye
  • $235.1 million — 2023, the Company generated a total of $235.1 million in cash flow from operations. 4 Tabl

Filing Documents

Security Ownership

Security Ownership 63 OTHER MATTERS 64 Stockholder Proposals for this Annual Meeting and for the 202 5 Annual Meeting 64 Other Business 65 ABOUT THE MEETING AND VOTING 65 APPENDIX A - RECONCILIATION OF NON-GAAP MEASURES 68 APPENDIX B - AMENDED AND RESTATED 2018 EQUITY AND INCENTIVE COMPENSATION PLAN 71 Table of Contents UNIVERSAL ELECTRONICS INC. Corporate Headquarters 15147 N. Scottsdale Road, Suite H300 Scottsdale, Arizona 85254 Notice of Annual Meeting of Stockholders to be Held on Tuesday, June 11, 2024 The 2024 Annual Meeting of Stockholders of Universal Electronics Inc., a Delaware corporation ("Universal," "UEI," the "Company," "we," "us" or "our"), will be held at our corporate office, 15147 N. Scottsdale Road, Suite H300, Scottsdale, Arizona 85254, on Tuesday, June 11, 2024 at 1:00 p.m., local time in Scottsdale, Arizona. The meeting will be conducted for the following purposes: Proposal One: To elect Paul D. Arling as a Class I Director to serve on the Board of Directors until the next Annual Meeting of Stockholders to be held in 2025 or until the election and qualification of his successor; and to elect William C. Mulligan, Satjiv S. Chahil, Sue Ann R. Hamilton, Romulo C. Pontual, Eric B. Singer and Edward K. Zinser as Class II directors to serve on the Board of Directors until the Annual Meeting of Stockholders to be held in 2026 or until their respective successors are elected and qualified; Proposal Two: To approve, on an advisory basis, the compensation of our named executive officers; Proposal Three: To adopt and approve the Amended and Restated 2018 Equity and Incentive Compensation Plan; Proposal Four: To ratify the appointment of Grant Thornton LLP, an independent registered public accounting firm, as our auditors for the year ending December 31, 2024; and To consider and act upon such other matters as may properly come before this Annual Meeting of Stockholders or any and all postponements or adjournments ther

Executive Compensation Program Highlights

Executive Compensation Program Highlights We strongly believe that executive compensation, both pay opportunities and pay actually realized, should be tied to Company performance and long-term stockholder returns. In 2023, over 81% of our CEO's total compensation was in the form of annual and long-term incentives that were tied to the Company's operating results or stock price. Our other named executive officers, on average, received approximately 65% of their total 2023 compensation pursuant to the same annual and long-term incentives. Furthermore, the great majority of named executive officer compensation is not guaranteed but subject to annual financial and performance goals or the Company's stock price. The following chart, which is provided as a supplemental disclosure and not as a substitute for the required Pay Versus Performance disclosure later in the proxy statement, demonstrates the close link between Company performance (measured as cumulative total stockholder return of the Company's common stock for the five-year period beginning January 1, 2019 based on the percentage that the stock price at the end of the years shown represents versus the stock price as of January 1, 2019) and our CEO's annual compensation over that same five-year period: 2 Table of Contents We believe this alignment of executive and stockholder interests is best advanced by observing the following principles in developing compensation programs and implementing compensation decisions: Long-term commitment - The program should be designed to gain a long-term commitment from the proven, accomplished executives that lead our success. Our executive officers have a combined total of approximately 125 years with the Company, during which they have held different positions and have been promoted to increasing levels of responsibility. Pay-for-performance - A high proportion of total compensation should be at risk and tied to achievement of annual operating and strategic goals and

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