UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM
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CURRENT REPORT
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Departure of Beatriz Blanco as President, CEO, and Director
On June 13, 2023, United-Guardian, Inc. (the “Company”) announced that, upon mutual agreement, Beatriz Blanco would be ending her employment as President of and Chief Executive Officer of the Company. Ms. Blanco’s role as President and her involvement in the daily operations of the company were mutually terminated effective June 8, 2023, but she will continue to be employed by the company until July 8, 2023. Ms. Blanco and the Company’s Board of Directors have agreed to the general terms of a separation agreement to govern Ms. Blanco’s departure, which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ending June 30, 2023.
Ms. Blanco resigned as a Director of the Company on June 8, 2023. Ms. Blanco’s resignation from the Company’s Board of Directors was amicable, and there were no disagreements between Ms. Blanco and the Company’s Board of Directors with regard to the operations, policies or practices of the Company. At the present time the Board has not yet decided if and when it will fill the vacancy created by the resignation of Ms. Blanco from the Board.
Appointment of Donna Vigilante as President
On June 13, 2023, the Company announced that at a meeting of the Board of Directors on June 9, 2023 the Board appointed Donna Vigilante as the Company’s new President, effective as of that date. Ms. Vigilante has been with the Company for over 20 years, and is currently one of the Company’s Vice Presidents and Manager of the Company’s Research & Development department. She has a Bachelor of Science degree in Biochemistry, with a minor in business, from Stony Brook University.
The Company’s Board of Directors has not yet finalized the compensation for Ms. Vigilante, and an amendment to this 8-K will be filed once that has been completed.
There is no family relationship between Ms. Vigilante and any director or officer of the Company. There are no transactions between Ms. Vigilante that would be required to be reported under Item 404(a) of Regulation S-K of the Securities Exchange Act of 1934, as amended.
On June 13, 2023, the Company issued a press release announcing the departure of Ms. Blanco and the appointment of Ms. Vigilante as her successor. A copy of the press release is being furnished as Exhibit 99.1.
(d) Exhibits
| Exhibit No. | Description | |
| 99.1 | Press Release dated June 13, 2023 | |
| 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 13, 2023 | By: | /s/ Donna Vigilante |
| Donna Vigilante | ||
| President | ||
EXHIBIT 99.1
United-Guardian Appoints New President
HAUPPAUGE, N.Y., June 13, 2023 (GLOBE NEWSWIRE) -- United-Guardian, Inc. (NASDAQ: UG), a manufacturer of cosmetic ingredients, pharmaceuticals, and medical products, announced today that the company’s Board of Directors has appointed Donna Vigilante as the company’s next President. Ms. Vigilante, 43, is currently one of the company’s vice presidents, and manages the company’s Research and Development department. She succeeds Beatriz Blanco, the company’s current President, who will be leaving the company upon mutual agreement, and who resigned as a member of the company’s Board of Directors on June 8, 2023. Ms. Vigilante’s appointment to the new position became effective on June 9, 2023.
Ms. Vigilante has a Bachelor of Science degree in biochemistry with a minor in business from Stony Brook University. She has been with the company for 20 years, and has been responsible for the development of many of the company’s products. She will continue to oversee the company’s R&D efforts, and will remain actively involved in the further expansion of the company’s extensive line of specialty cosmetic ingredients and medical products, especially its initiatives in the development of naturally-derived and environmentally friendly products for the company’s cosmetic customers.
“Donna has been a key employee of the company for many years, and is very excited to have the opportunity to put in place some new marketing strategies and expand the company’s product lines,” said Ken Globus, Chairman of the company’s Board of Directors and former company President & CEO. “She has extensive experience in product development, and has many new ideas to grow the company while maintaining its profitability. I have no doubt that she will be successful in this position, and will provide the company not only with new approaches to product development, but also with new marketing strategies. I believe she is the right person for the job, and am looking forward to watching her grow the company.”
| Contact: | Andrea Young (631) 273-0900 |
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.