SC 13D 1 usigrossblatt13d.txt UNIVERSAL SECURITY INSTRUMENTS, INC./13D GROSSBLATT SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ------------ SCHEDULE 13D (Rule 13d-101) UNDER THE SECURITIES EXCHANGE ACT OF 1934 (Amendment No. ) Universal Security Instruments, Inc. -------------------------------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------------------------------- (Title of Class of Securities) 913821 30 2 -------------------------------------------------------------------------------- (CUSIP Number) Hillel Tendler, Esquire, Neuberger, Quinn, Gielen, Rubin & Gibber, P.A. One South Street, 27th Floor, Baltimore, Maryland 21202, (410) 332-8552 -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) April 1, 2002 -------------------------------------------------------------------------------- (Date of Event Which Requires Filing of This Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1 (e), 13d-1(f) or 13d-1(g), check the following box: . Note. Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent. (Continued on following pages) (Page 1 of 5 Pages) -------------------------------------------- --------------------------- CUSIP No. 913821 30 2 13D Page 2 of 5 Pages ---------------------------------- - - -------------------------------------------- --------------------------- -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS Harvey B. Grossblatt ###-##-#### -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* _ (a) |_| _ (b) |_| -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* PF -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) _ |_| -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION U.S.A. -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 64,772 SHARES BENEFICIALLY ----------------------------------------------------------- OWNED BY EACH 8 SHARED VOTING POWER REPORTING 0 PERSON WITH ----------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 64,772 ----------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 64,772 -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* _ |_| -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.1% -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN -------------------------------------------------------------------------------- SCHEDULE 13D Item 1. Security and Issuer. This statement relates to shares of common stock, par value $.01 per share (the "Shares"), of Universal Security Instruments, Inc. (the "Issuer"), 7-A Gwynns Mill Court, Owings Mills, Maryland 21117. Item 2. Identity and Background. (a) The name of the Reporting Person is Harvey B. Grossblatt (the "Reporting Person"). (b) The Reporting Person's business address is 7-A Gwynns Mill Court, Owings Mills, Maryland 21117. (c) The Reporting Person is a director and president of the Issuer. (d) No. (e) No. (f) The Reporting Person is a citizen of the United States of America. Item 3. Source and Amount of Funds or Other Consideration. The Reporting Person acquired the Shares covered by this statement with personal funds from time to time. Of the Shares reported, 7,272 were purchased by the Reporting Person or for his self-directed 401(k) plan account, from time to time, either directly from the Issuer pursuant to the Issuer's Employee Stock Purchase Plan, or on the market. The balance of the Shares covered by this statement may be acquired by the Reporting Person pursuant to options granted by the Issuer exercisable within 60 days from the date hereof. Item 4. Purpose of Transaction. The Reporting Person has acquired the Shares covered by this statement from time to time to increase his equity position in the Issuer. The Reporting Person has no current plans or proposals which relate to or would result in any of the following: (a) The acquisition by any person of additional securities of the Issuer, or the disposition of securities of the Issuer; 3 (b) An extraordinary corporate transaction involving the Issuer or any of its subsidiaries; (c) A sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; (d) Any change in the present board of directors or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board of directors; (e) Any material change in the present capitalization or dividend policy of the Issuer; (f) Any other material change in the Issuer's business or corporate structure; (g) Changes in the Issuer's charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the Issuer by any person (other than as a result of the Reporting Person's stock ownership); (h) Causing a class of securities of the Issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (i) A class of equity securities of the issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934; or (j) Any action similar to any of those enumerated above. Notwithstanding the foregoing, the Reporting Person may from time to time acquire beneficial ownership of additional Shares or dispose of any Shares beneficially owned by him, including pursuant to any stock option or similar plan of the Issuer in which the Reporting Person is eligible to participate. Item 5. Interest in Securities of the Issuer. (a) The Reporting Person is the beneficial owner of 64,772 Shares, representing 6.1% of the class of securities covered by this statement, including (i) 6,276 Shares owned directly by the Reporting Person, (ii) 996 Shares are held in the Reporting Person's self-directed 401(k) plan account, and (iii) 57,500 Shares which the Reporting Person has a right to acquire pursuant to outstanding options exercisable within 60 days from the date hereof. (b) The Reporting Person has sole voting and dispositive power with respect to all of the Shares covered by this statement. (c) Other than as set forth in Item 6 below, none. 4 (d) Not applicable. (e) Not applicable. Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer. The Issuer has granted the options to the Reporting Person to acquire the following Shares, all of which are currently exercisable at the following exercise prices: Date of Grant Number of Shares Exercise Price per Share ------------- ---------------- ------------------------ November 9, 1998 6,250(1) $0.66 June 1, 2000 5,000(2) $4.50 July 2, 2001 13,250(3) $3.00 November 2, 2001 15,000(1) $1.30 November 2, 2001 15,000(1) $1.70 April 1, 2002 20,000(1) $4.50 (1) All are currently exercisable (2) 1,250 are currently exercisable (3) None are currently exercisable Item 7. Material to be Filed as Exhibits. Not applicable. Signature. After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. DATE: April 15, 2002 /s/ Harvey B. Grossblatt ------------------------------------ Harvey B. Grossblatt 5