0001104659-20-109896.txt : 20200929 0001104659-20-109896.hdr.sgml : 20200929 20200929170038 ACCESSION NUMBER: 0001104659-20-109896 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20200924 ITEM INFORMATION: Entry into a Material Definitive Agreement FILED AS OF DATE: 20200929 DATE AS OF CHANGE: 20200929 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NAPCO SECURITY TECHNOLOGIES, INC CENTRAL INDEX KEY: 0000069633 STANDARD INDUSTRIAL CLASSIFICATION: COMMUNICATIONS EQUIPMENT, NEC [3669] IRS NUMBER: 112277818 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-10004 FILM NUMBER: 201209573 BUSINESS ADDRESS: STREET 1: 333 BAYVIEW AVE CITY: AMITYVILLE STATE: NY ZIP: 11701 BUSINESS PHONE: 631-842-9400 MAIL ADDRESS: STREET 1: 333 BAYVIEW AVE STREET 2: XXXXXXXXXXXXXXXXXXX CITY: AMITYVILLE STATE: NY ZIP: 11701 FORMER COMPANY: FORMER CONFORMED NAME: NAPCO SECURITY SYSTEMS INC DATE OF NAME CHANGE: 19920703 8-K 1 tm2032054d1_8k.htm FORM 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)

September 24, 2020

NAPCO SECURITY TECHNOLOGIES, INC.

(Exact name of registrant as specified in charter)

Delaware		0-10004		11-2277818
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

333 Bayview Avenue, Amityville, New York 11701

(Address of principal executive offices)

Registrant's telephone number, including area code (631) 842-9400

(Former name and former address if changed from last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.01 per share		NSSC		Nasdaq Stock Market

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 (see General Instruction A.2 below):

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))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (section 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (section 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 ¨

Item 1.01. Entry into a Material Definitive Agreement.

On September 24, 2020, the Company entered into the Seventh Amendment (the “Seventh Amendment”) to the Third Amended and Restated Credit Agreement with HSBC Bank USA, National Association. The principal features of the Seventh Amendment are that it: eliminates the mortgage on the Amityville location; allows acquisitions up to $50,000,000 (cash paid plus acquired debt), must have at least 50% of its assets in the U.S.; eliminates the limit on cash outside of HSBC; and eliminates the limit on Capex.

In September, 2020 the Company entered into Indemnification Agreements with all seven members of its Board of Directors as well as three officers of the Company. The material terms of the Form of Indemnficiation Agreement were described in the Company’s Form 8-K filed on September 8, 2020.

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 thereunder duly authorized.

		NAPCO SECURITY TECHNOLOGIES, INC.
		(Registrant)

Date:	September 29, 2020	By:	/s/ Kevin S. Buchel
			Kevin S. Buchel
			Senior Vice President and Chief Financial Officer