NAPCO SECURITY TECHNOLOGIES, INC. (NASDAQ:NSSC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Certain Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 12, 2020, the Board of Directors of NAPCO Security Technologies, Inc., a Delaware corporation (the “Company”), upon the recommendation of its Nominating Committee, appointed Robert Ungar to the Company’s Board of Directors and to the Audit Committee thereof. Mr. Ungar’s appointment fills a vacancy on the Board and Audit Committee resulting from the previously reported death of Arnold Blumenthal. Mr. Ungar was appointed to serve for a term ending at the Annual Meeting of Stockholders following the Company’s fiscal year ending June 30, 2020. Mr. Ungar has not engaged in any transaction with the Company that would be reportable to Item 404(a) of Regulation S-K.
Item 8.01. Other Events.
The appointment of Mr. Ungar, as an independent director and audit committee member, brings the Company back into compliance with the NASDAQ Listing Rule 5605. As previously reported, NASDAQ gave the Company until June 26, 2020 regain compliance with such Rule. On February 14, 2020, the Company received a letter from NASDAQ confirming that it was in compliance with NASDAQ Listing Rule 5605 by virtue of the appointment of Mr. Ungar to the audit committee.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| Exhibit 99.1 | Letter from NASDAQ dated February 14, 2020 |
NAPCO SECURITY TECHNOLOGIES, INC Exhibit
EX-99.1 2 tm209273d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Sent via Electronic Delivery to: [email protected] February 14,…
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About NAPCO SECURITY TECHNOLOGIES, INC. (NASDAQ:NSSC)
NAPCO Security Technologies, Inc. is a manufacturer of security products, encompassing access control systems, door-locking products, intrusion and fire alarm systems and video surveillance products. These products are used for commercial, residential, institutional, industrial and governmental applications, and are sold across the world principally to independent distributors, dealers and installers of security equipment. The Company manufactures and markets various products for alarm systems, which include automatic communicators, control panels, combination control panels/digital communicators and digital keypad systems, fire alarm control panel and area detectors. It manufactures a range of door locking devices, including microprocessor-based electronic door locks with push button, card reader and bio-metric operation, door alarms, mechanical door locks and simple dead bolt locks. It also markets peripheral and related equipment manufactured by other companies.
