Universal Security Instruments Enters Material Definitive Agreement
Ticker: UUU · Form: 8-K · Filed: Jul 11, 2024 · CIK: 102109
| Field | Detail |
|---|---|
| Company | Universal Security Instruments Inc (UUU) |
| Form Type | 8-K |
| Filed Date | Jul 11, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement
TL;DR
USUR just signed a big deal, details TBD.
AI Summary
On July 10, 2024, Universal Security Instruments, Inc. entered into a material definitive agreement. The filing does not provide specific details on the agreement or any associated dollar amounts or parties involved.
Why It Matters
This filing indicates a significant new contract or partnership for Universal Security Instruments, Inc., which could impact its future business operations and financial performance.
Risk Assessment
Risk Level: medium — The lack of specific details in the filing regarding the material definitive agreement introduces uncertainty about its nature and potential impact.
Key Players & Entities
- Universal Security Instruments, Inc. (company) — Registrant
- July 10, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the material definitive agreement entered into by Universal Security Instruments, Inc.?
The filing states that Universal Security Instruments, Inc. entered into a material definitive agreement on July 10, 2024, but does not provide specific details about its nature.
Are there any specific parties named in the material definitive agreement?
The filing does not name any specific parties involved in the material definitive agreement.
What is the dollar amount associated with this material definitive agreement?
The filing does not disclose any specific dollar amounts related to the material definitive agreement.
What is the business address of Universal Security Instruments, Inc.?
The business address of Universal Security Instruments, Inc. is 11407 Cronhill Drive, Suite A, Owings Mills, Maryland 21117.
When is Universal Security Instruments, Inc.'s fiscal year end?
Universal Security Instruments, Inc.'s fiscal year ends on March 31.
Filing Stats: 492 words · 2 min read · ~2 pages · Grade level 11.2 · Accepted 2024-07-11 17:30:53
Filing Documents
- tm2419238d1_8k.htm (8-K) — 26KB
- tm2419238d1_ex10-1.htm (EX-10.1) — 6KB
- 0001104659-24-079270.txt ( ) — 203KB
- uuu-20240710.xsd (EX-101.SCH) — 3KB
- uuu-20240710_lab.xml (EX-101.LAB) — 33KB
- uuu-20240710_pre.xml (EX-101.PRE) — 22KB
- tm2419238d1_8k_htm.xml (XML) — 4KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. On July 10, 2024, the Registrant entered into an Addendum to the Second Amended and Restated Employment Agreement dated as of July 18, 2005 with Harvey B. Grossblatt, President and Chief Executive Officer of the Registrant (the "Addendum"). The Addendum extended the term of Mr. Grossblatt's employment by one year, from July 31, 2024 to July 31, 2025. In addition, the Registrant continued the bonus threshold on which the Executive may earn a bonus for the fiscal year beginning April 1, 2024 at 4% of shareholders' equity as of April 1, 2024.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (c) Exhibits The following exhibits are filed herewith: Exhibit No. 10.1 Addendum, dated July 10, 2024, to Second Amended and Restated Employment Agreement 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. UNIVERSAL SECURITY INSTRUMENTS, INC. (Registrant) Date: July 11, 2024 By: /s/ Harvey B. Grossblatt Harvey B. Grossblatt President