03/27/2026 | Press release | Distributed by Public on 03/27/2026 14:31
| Item 5.07 | Submission of Matters to a Vote of Security Holders. |
On March 27, 2026, Universal Safety Products, Inc., a Maryland corporation (the "Company") held its 2026 annual meeting of stockholders (the "Meeting"). As of February 24, 2026, the record date for the Meeting, the Company had outstanding and entitled to vote 2,717,787 shares of the Company's common stock, par value $0.001 per share (the "Common Stock"), which constitutes all of the outstanding voting capital stock of the Company.
At the Meeting, the stockholders voted on four proposals, each of which is described in more detail in the Company's definitive proxy statement on Schedule 14A filed with the U.S. Securities and Exchange Commission on February 24, 2026. At the Meeting, stockholders appointed three (3) directors, and approved proposals 2, 3 and 4, each of which were presented for a vote. The tables below set forth the number of votes cast for and against or withheld, and the number of abstentions or broker non-votes, for each matter voted upon by the Company's stockholders.
Proposal One: The election of one (1) Class II director nominee named by the Company to hold office for a term of two (2) years until the annual meeting of stockholders to be held in 2028.
| For | Against | Abstain | Broker Non-Votes | |||||
| Ira F. Bormel | 736,173 | 80,519 | 41,856 | 586,187 |
The election of two (2) Class III director nominees named by the Company to hold office for a term of three (3) years until the annual meeting of stockholders to be held in 2029.
| For | Against | Abstain | Broker Non-Votes | |||||
| Harvey B. Grossblatt | 792,783 | 62,703 | 3,062 | 586,187 | ||||
| Henry C.W. Nisser | 853,679 | 4,205 | 664 | 586,187 |
Proposal Two: The ratification of CBIZ CPAs P.C., as the Company's independent registered public accounting firm for the fiscal year ending March 31, 2026.
| For | Against | Abstain | Broker Non-Votes | |||
| 1,361,691 | 50,957 | 32,045 | 42 |
Proposal Three: Approval of, on a non-binding advisory basis, the compensation of our named executive officers.
| For | Against | Abstain | Broker Non-Votes | |||
| 741,119 | 115,107 | 2,322 | 586,187 |
Proposal Four: Approval of, on a non-binding advisory basis, the frequency of advisory approval of the compensation of our named executive officers.
| 3 Years | 2 Years | 1 Year | Abstain | Broker Non-Votes | ||||
| 695,035 | 1,201 | 156,990 | 5,364 | 586,145 |
Following the Company's receipt of the voting results on Proposal Four, the Company has determined to proceed with a frequency for voting on executive compensation of every three years.