Universal Security Instruments Files 8-K
Ticker: UUU · Form: 8-K · Filed: Nov 19, 2024 · CIK: 102109
| Field | Detail |
|---|---|
| Company | Universal Security Instruments Inc (UUU) |
| Form Type | 8-K |
| Filed Date | Nov 19, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financials, 8-k
Related Tickers: USUR
TL;DR
USUR filed an 8-K on Nov 18 for a material agreement. Check financials.
AI Summary
Universal Security Instruments, Inc. filed an 8-K on November 19, 2024, reporting a material definitive agreement entered into on November 18, 2024. The filing also includes financial statements and exhibits. The company is incorporated in Maryland and its principal executive offices are located in Owings Mills, Maryland.
Why It Matters
This 8-K filing indicates a significant event or agreement for Universal Security Instruments, Inc., which could impact its business operations and financial standing.
Risk Assessment
Risk Level: low — The filing is a standard 8-K reporting a material definitive agreement and financial statements, with no immediate indication of significant financial distress or unusual risk.
Key Numbers
- 001-31747 — Commission File Number (SEC file number for the registrant)
- 52-0898545 — IRS Employer Identification No. (Tax identification number for the registrant)
Key Players & Entities
- UNIVERSAL SECURITY INSTRUMENTS, INC. (company) — Registrant
- November 18, 2024 (date) — Date of earliest event reported
- November 19, 2024 (date) — Filing date
- Maryland (jurisdiction) — State of Incorporation
- Owings Mills, Maryland (location) — Principal Executive Offices
FAQ
What is the nature of the material definitive agreement entered into on November 18, 2024?
The filing states that an "Entry into a Material Definitive Agreement" is an item of disclosure, but the specific details of the agreement are not provided in this excerpt.
What financial statements are included with this 8-K filing?
The filing indicates that "Financial Statements and Exhibits" are included, but the specific financial statements are not detailed in this excerpt.
When was Universal Security Instruments, Inc. incorporated?
The company was incorporated in Maryland.
What is the primary business address of Universal Security Instruments, Inc.?
The primary business address is 11407 Cronhill Drive, Suite A, Owings Mills, Maryland 21117.
What is the SIC code for Universal Security Instruments, Inc.?
The Standard Industrial Classification (SIC) code is 5065, which corresponds to Wholesale-Electronic Parts & Equipment, NEC.
Filing Stats: 556 words · 2 min read · ~2 pages · Grade level 11.3 · Accepted 2024-11-19 13:22:57
Filing Documents
- tm2428892d1_8k.htm (8-K) — 26KB
- tm2428892d1_ex10-1.htm (EX-10.1) — 8KB
- 0001104659-24-120466.txt ( ) — 206KB
- uuu-20241118.xsd (EX-101.SCH) — 3KB
- uuu-20241118_lab.xml (EX-101.LAB) — 33KB
- uuu-20241118_pre.xml (EX-101.PRE) — 22KB
- tm2428892d1_8k_htm.xml (XML) — 4KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. As previously reported, on October 29, 2024, Universal Security Instruments, Inc., a Maryland corporation (" USI "), entered into an Asset Purchase Agreement (the " Purchase Agreement ") by and among USI, a wholly owned subsidiary of USI and Feit Electric Company, Inc., a California corporation. On November 18, 2024, Harvey B. Grossblatt, President and Chief Executive Officer of USI and USI entered into a letter agreement (the " Letter Agreement ") pursuant to which Mr. Grossblatt waived certain "change of control" payments to which he would be entitled pursuant to the terms of the Second Amended and Restated Employment Agreement dated as of July 18, 2005 by and between Mr. Grossblatt and USI. The waiver set forth in the Letter Agreement is only effective with respect to a "change of control" which would occur as a result of the transaction with Feit Electric pursuant to the terms of the Purchase Agreement.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (c) Exhibits The following exhibits are filed herewith: Exhibit No. 10.1 Letter Agreement, dated November 18, 2024, waiving certain rights under the Second Amended and Restated Employment Agreement by and between Harvey B. Grossblatt and Universal Security Instruments, Inc.
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: November 19, 2024 By: /s/ Harvey B. Grossblatt Harvey B. Grossblatt President