UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM
_________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
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Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
On June 14, 2022, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
99.1 | Press Release dated June 14, 2022 | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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.
United-Guardian, Inc. | ||
Date: June 14, 2022 | By: | /s/ Ken Globus |
Ken Globus | ||
President | ||
EXHIBIT 99.1
United-Guardian Completes Review of Strategic Alternatives; Announces Retirement of the Company’s CEO
HAUPPAUGE, N.Y., June 14, 2022 (GLOBE NEWSWIRE) -- United-Guardian, Inc. (NASDAQ:UG) announced today that it has completed the formal review of strategic alternatives that it initiated in January, and concluded that there were no opportunities presented to the company that the Board of Directors believed would be in the best interests of the company to pursue at the present time. While the active efforts that began in January will be suspended, the company will continue to explore opportunities to grow the company’s core businesses, and will consider any opportunities for strategic alternatives that may be brought to the company in the future that the Board believes would be in the best interest of the company and its shareholders.
The company also announced that the company’s President and CEO, Ken Globus, intends to retire by the end of the year, and that the company has begun the process of finding a suitable replacement. The Board will oversee that process, and Mr. Globus will continue to lead the company until the selection and onboarding of a new President and CEO is completed. The search process will focus on identifying a leader who shares the Board’s vision for the company, and has the experience and qualifications to accelerate the growth of the company. Mr. Globus has agreed to continue in a consulting role for as long as he is needed.
Mr. Globus has been with the company for 39 years, having joined the company in 1983 as Vice President & General Counsel. He was appointed President in 1988 and became the company’s CEO in 2009 upon the death of the company’s founder, Dr. Alfred R. Globus.
NOTE: This press release contains both historical and "forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements about the company’s expectations or beliefs concerning future events, such as financial performance, business prospects, and similar matters, are being made in reliance upon the “safe harbor” provisions of that Act. Such statements are subject to a variety of factors that could cause our actual results or performance to differ materially from the anticipated results or performance expressed or implied by such forward-looking statements. For further information about the risks and uncertainties that may affect the company’s business please refer to the company's reports and filings with the Securities and Exchange Commission.
Contact: Ken Globus
(631) 273-0900
pgc@u-g.com
Cover |
Jun. 14, 2022 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Jun. 14, 2022 |
Entity File Number | 001-10526 |
Entity Registrant Name | United-Guardian, Inc. |
Entity Central Index Key | 0000101295 |
Entity Tax Identification Number | 11-1719724 |
Entity Incorporation, State or Country Code | DE |
Entity Address, Address Line One | 230 Marcus Boulevard |
Entity Address, City or Town | Hauppauge |
Entity Address, State or Province | NY |
Entity Address, Postal Zip Code | 11788 |
City Area Code | 631 |
Local Phone Number | 273-0900 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock, $0.10 par value per share |
Trading Symbol | UG |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | false |
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