|EX-99.1 - PRESS RELEASE - UNIVERSAL STAINLESS & ALLOY PRODUCTS INC||d405193dex991.htm|
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 27, 2012
Universal Stainless & Alloy Products, Inc.
(Exact name of registrant as specified in its charter)
(State or other jurisdiction
|600 Mayer Street, Bridgeville, Pennsylvania||15017|
|(Address of principal executive offices)||(Zip code)|
Registrants telephone number, including area code: (412) 257-7600
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.):
|¨||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))|
|Item 5.02.||Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.|
On August 31, 2012, Universal Stainless and Alloy Products, Inc. (the Company) announced that William W. Beible resigned from his position as Senior Vice President of Operations, effective August 27, 2012, in order to pursue other interests. In connection with Mr. Beibles resignation, the Company and Mr. Beible agreed to terms of a separation arrangement. Pursuant to the separation arrangement, Mr. Beible will receive a severance payment equal to approximately $246,000, or 12 months of Mr. Beibles salary at the time of his resignation. The Company also will continue to provide health care coverage to Mr. Beible under the Companys group coverage until August 2013. Mr. Beible will be subject to a customary non-disparagement covenant, and the Company and Mr. Beible agreed to a customary mutual release of claims.
On August 31, 2012, the Company issued a press release announcing Mr. Beibles resignation. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
|Item 9.01.||Financial Statements and Exhibits.|
|99.1||Press Release dated August 31, 2012|
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.
UNIVERSAL STAINLESS & ALLOY PRODUCTS, INC.
|Vice President of Administration, General Counsel and Secretary|
Dated: August 31, 2012