Universal Security Instruments Files Proxy Statement

TL;DR

USUR proxy filing out. Shareholders vote soon on corp governance.

AI Summary

Universal Security Instruments, Inc. filed a DEF 14A on July 29, 2024, for its fiscal year ending March 31, 2024. The filing pertains to the company's proxy statement, which is a document provided to shareholders before a shareholder meeting, typically detailing matters to be voted upon, such as the election of directors and executive compensation. The company is headquartered in Owings Mills, Maryland.

Why It Matters

This filing provides shareholders with crucial information regarding corporate governance and upcoming votes, impacting their ability to make informed decisions about the company's direction.

Risk Assessment

Risk Level: low — This is a routine DEF 14A filing, which is standard for publicly traded companies and does not inherently indicate new risks.

Key Numbers

• 20240729 — Filing Date (Date the DEF 14A was submitted to the SEC.)
• 20241107 — Fiscal Year End (The period the proxy statement covers.)

Key Players & Entities

• UNIVERSAL SECURITY INSTRUMENTS INC (company) — Registrant
• 0001104659-24-083141 (filing_id) — Accession Number
• 20240729 (date) — Filing Date
• 20241107 (date) — Conformed Period of Report
• Owings Mills, Maryland (location) — Company Headquarters

FAQ

Key Financial Figures

• $10,000 — each outside director was entitled to a $10,000 annual fee for annual service as a dire
• $1,699,000 — other Company expenses of approximately $1,699,000 and $1,748,000, respectively, were char
• $1,748,000 — xpenses of approximately $1,699,000 and $1,748,000, respectively, were charged to credit c
• $276,000 — any expenses) amounted to approximately $276,000 and $217,000, respectively, and no amou
• $217,000 — amounted to approximately $276,000 and $217,000, respectively, and no amounts were outs
• $100,000 — nsation during the fiscal year exceeded $100,000 (listed in the Summary Compensation Tab
• $40,815 — cludes employer 401(k) contributions of $40,815 and $40,815, medical reimbursement and
• $40,815, m — yer 401(k) contributions of $40,815 and $40,815, medical reimbursement and health insuranc
• $24,870 — sement and health insurance premiums of $24,870 and $24,590, group life and disability
• $24,590 — ealth insurance premiums of $24,870 and $24,590, group life and disability premiums of
• $4,625 — , group life and disability premiums of $4,625 and $4,533, and auto lease value of $85
• $4,533 — e and disability premiums of $4,625 and $4,533, and auto lease value of $852 and $852.
• $852 — 625 and $4,533, and auto lease value of $852 and $852. (2) All other compensation
• $6,000 — ployer match of 401(k) contributions of $6,000 and $5,866, group life and disability p
• $5,866 — h of 401(k) contributions of $6,000 and $5,866, group life and disability premiums of

Filing Documents

• tm2420184d1_def14a.htm (DEF 14A) — 156KB
• 0001104659-24-083141.txt ( ) — 157KB

From the Filing

DEF 14A 1 tm2420184d1_def14a.htm FORM DEF 14A SCHEDULE 14A (Rule 14a-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant x Filed by a Party other than the Registrant ¨ Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the, Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material Pursuant to Rule 14a-11(c) or Rule 14a-12 Universal Security Instruments, Inc. (Name of Registrant as Specified in Its Charter) N/A (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): No fee required. Fee previously paid with preliminary materials. Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11. Universal Security Instruments, Inc. 11407 Cronhill Drive, Suite A Owings Mills, Maryland 21117 Notice of Annual Meeting of Shareholders to be held November 7, 2024 To the Shareholders of Universal Security Instruments, Inc.: The Annual Meeting of Shareholders of Universal Security Instruments, Inc., a Maryland corporation (the “Company”) will be held at the offices of the Company, 11407 Cronhill Drive, Suite A, Owings Mills, Maryland, on Thursday, November 7, 2024 at 8:30 a.m., local time, for the following purposes: 1. To elect one (1) director for a three (3) year term ending at the Annual Meeting of Shareholders to be held in 2027 and until his successor is duly elected and qualified. 2. To vote on a non-binding resolution approving the compensation of the executive officers named in the proxy statement. 3. To authorize the Board of Directors to accept the auditors selected by the Audit Committee of an outside auditing firm for the fiscal year ending March 31, 2025. 4. To transact such other business as may properly come before the meeting or any adjournments or postponements thereof. The Board of Directors has fixed September 9, 2024, as the record date for the determination of shareholders entitled to notice of, and to vote at, the meeting. Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting of Shareholders to be held on November 7, 2024 Pursuant to rules and regulations adopted by the Securities and Exchange Commission, we have elected to provide access to our proxy materials over the Internet, allowing us to provide the information shareholders need, while lowering delivery and printing expenses. On or about September 13, 2024, we will mail to our shareholders a notice containing instructions on how our shareholders may access online our 2024 Proxy Statement and 2024 Annual Report to Shareholders. Our Annual Report to Shareholders does not constitute a part of the proxy solicitation material, but provides you with additional information about the Company. These materials are available on the following website: http://www.usiannualmeeting.com. We invite your attention to each of these documents, and we invite you to attend the Annual Meeting of Shareholders, in person. By Order of the Board of Directors James B. Huff Secretary Owings Mills, Maryland September 13, 2024 EVEN IF YOU PLAN TO ATTEND THE MEETING IN PERSON, PLEASE COMPLETE, SIGN AND DATE A PROXY CARD, WHICH IS AVAILABLE TO YOU ONLINE, OR UPON REQUEST, AND RETURN IT PROMPTLY TO US. IF YOU ATTEND THE MEETING IN PERSON, YOU MAY REVOKE YOUR PROXY AND VOTE IN PERSON AT THE MEETING. Universal Security Instruments, Inc. 11407 Cronhill Drive, Suite A Owings Mills, Maryland 21117 (410) 363-3000 Proxy The accompanying proxy is solicited by the Board of Directors (the “Board”) of Universal Security Instruments, Inc., a Maryland corporation (the “Company”), in connection with the Annual Meeting of Shareholders to be held on November 7, 2024, or at any adjournments or postponements thereof, for the purposes set forth in the accompanying notice of the meeting. The Board has fixed the close of business on September 9, 2024 as the record date (the “Record Date”) for the determination of shareholders entitled to notice of, and to vote at, the meeting. On that date, there were outstanding 2,312,887 shares of the Company’s Common Stock par value $.01 per share (the “Shares”). Pursuant to the e-proxy rules and regulations adopted by the United States Securities and Exchange Commission (“SEC”), we have elected to provide access to our proxy materials over the Internet. On or about September 13, 2024, we will mail to our shareholders a notice (the “E-Proxy Notice”) containing instructions on how to access online our 2024 Proxy Statement, and Annual Report to Shareholders. If you would like to receive a printed copy of our proxy materials, you

View Full Filing

View this DEF 14A filing on SEC EDGAR