Universal Safety Products Files 8-K with Material Agreement, Officer Changes

TL;DR

Universal Safety Products filed an 8-K for a material agreement and officer changes on Oct 1, 2025.

AI Summary

Universal Safety Products, Inc. announced on October 1, 2025, a material definitive agreement and changes in its officer and director positions. The company also filed financial statements and exhibits related to these events. This filing follows a name change from Universal Security Instruments Inc. in 1992.

Why It Matters

This 8-K filing indicates significant corporate actions, including a new material agreement and potential leadership shifts, which could impact the company's strategic direction and operational performance.

Risk Assessment

Risk Level: medium — Material definitive agreements and changes in officers/directors can signal significant strategic shifts or internal restructuring, warranting closer investor attention.

Key Players & Entities

• UNIVERSAL SAFETY PRODUCTS, INC. (company) — Registrant
• October 1, 2025 (date) — Date of earliest event reported
• Maryland (jurisdiction) — State of incorporation
• 001-31747 (identifier) — SEC File Number
• 52-0898545 (identifier) — I.R.S. Employer Identification Number
• UNIVERSAL SECURITY INSTRUMENTS INC (company) — Former company name
• 19920703 (date) — Date of name change

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value UUU NYSE American Indic
• $352,286 — rossblatt will be paid a base salary of $352,286 per annum (the " Base Salary "). Additi
• $2.5 million — 31, 2027, with the first bonus equal to $2.5 million upon receipt of gross proceeds of at le
• $100 m — n receipt of gross proceeds of at least $100 million, with additional bonuses of $1.0
• $1.0 million — 100 million, with additional bonuses of $1.0 million for each $100 million of gross proceeds
• $100 million — tional bonuses of $1.0 million for each $100 million of gross proceeds between $200 million
• $200 million — $100 million of gross proceeds between $200 million and $900 million, with a final potentia
• $900 m — gross proceeds between $200 million and $900 million, with a final potential bonus of
• $500,000 — illion, with a final potential bonus of $500,000 upon gross proceeds of $1 billion, whic
• $1 b — onus of $500,000 upon gross proceeds of $1 billion, which would result in total bonu
• $10 million — tal bonus payments to Mr. Grossblatt of $10 million. Mr. Grossblatt is also entitled to lif

Filing Documents

• tm2527797d1_8k.htm (8-K) — 34KB
• tm2527797d1_ex10-1.htm (EX-10.1) — 119KB
• 0001104659-25-096097.txt ( ) — 344KB
• uuu-20251001.xsd (EX-101.SCH) — 3KB
• uuu-20251001_lab.xml (EX-101.LAB) — 33KB
• uuu-20251001_pre.xml (EX-101.PRE) — 22KB
• tm2527797d1_8k_htm.xml (XML) — 4KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. The information set forth under Item 5.02 below is incorporated in its entirety herein by reference.

02. Departure of Directors or Certain Officers; Election of Directors; Appointment

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On October 1, 2025, Universal Safety Products, Inc., a Maryland corporation (the " Company ") entered into an employment agreement (the " Agreement ") with Harvey B. Grossblatt, the Company's President and Chief Executive Officer, to continue to serve as the Company's President and Chief Executive Officer through July 31, 2027. Pursuant to the Agreement, Mr. Grossblatt will be paid a base salary of $352,286 per annum (the " Base Salary "). Additionally, Mr. Grossblatt is entitled to bonus compensation based upon milestone amounts of the Company's receipt of gross proceeds from capital raises from the date of the Agreement through July 31, 2027, with the first bonus equal to $2.5 million upon receipt of gross proceeds of at least $100 million, with additional bonuses of $1.0 million for each $100 million of gross proceeds between $200 million and $900 million, with a final potential bonus of $500,000 upon gross proceeds of $1 billion, which would result in total bonus payments to Mr. Grossblatt of $10 million. Mr. Grossblatt is also entitled to life, health and disability insurance benefits, medical reimbursement, automobile allowance, and Company paid retirement plan contributions. If the Agreement is terminated by Mr. Grossblatt for good reason, Mr. Grossblatt is entitled to receive his compensation through any balance of the employment term plus a lump sum payment equal to his last 12 months Base Salary, health benefits for three years, and an additional lump sum payment payable on each of the first three anniversaries of the termination equal to the 401(k) plan contribution the Company would have made on behalf of the Company had he remained employed by the Company. If Mr. Grossblatt's employment is terminated following or in anticipation of a "change of control" of the Company, Mr. Grossblatt will be e

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits: Exhibit No. Description 10.1* Employment Agreement, dated October 1, 2025, by and between Universal Safety Products, Inc. and Harvey B. Grossblatt. 101 Pursuant to Rule 406 of Regulation S-T, the cover page is formatted in Inline XBRL (Inline eXtensible Business Reporting Language). 104 Cover Page Interactive Data File (embedded within the Inline XBRL document and included in Exhibit 101). * Indicates management contract or compensatory plan or arrangement. 3 SIGNATURE 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 hereunto duly authorized. UNIVERSAL SAFETY PRODUCTS, INC. Dated: October 2, 2025 /s/ Harvey B. Grossblatt Harvey B. Grossblatt President and Chief Executive Officer 4

View Full Filing

View this 8-K filing on SEC EDGAR