-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, O5fAnuMM45zkk8e+o4Z+9jp5J8+d0pkiws2ndIyzVKGMNTMwZZcOscz/TPicqLlS 6mTmjtabJLfvO7RsQblQMA== 0001380023-10-000004.txt : 20100820 0001380023-10-000004.hdr.sgml : 20100820 20100820171919 ACCESSION NUMBER: 0001380023-10-000004 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20100820 DATE AS OF CHANGE: 20100820 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: UNIVERSAL TECHNICAL INSTITUTE INC CENTRAL INDEX KEY: 0001261654 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EDUCATIONAL SERVICES [8200] IRS NUMBER: 860226984 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-79434 FILM NUMBER: 101030824 BUSINESS ADDRESS: STREET 1: 20410 NORTH 19TH AVENUE STREET 2: SUITE 200 CITY: PHOENIX STATE: AZ ZIP: 85027 BUSINESS PHONE: 623-445-9500 MAIL ADDRESS: STREET 1: 20410 NORTH 19TH AVENUE STREET 2: SUITE 200 CITY: PHOENIX STATE: AZ ZIP: 85027 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Pivot Point Capital Partners, LLC CENTRAL INDEX KEY: 0001380023 IRS NUMBER: 201888857 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: ONE SANSOME STREET STREET 2: SUITE 2900 CITY: SAN FRANCISCO STATE: CA ZIP: 94104 BUSINESS PHONE: 415.343.7074 MAIL ADDRESS: STREET 1: ONE SANSOME STREET STREET 2: SUITE 2900 CITY: SAN FRANCISCO STATE: CA ZIP: 94104 SC 13D/A 1 uti13d082010.txt =========================================================================== UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D (Amendment No. 1) Under the Securities and Exchange Act of 1934 Universal Technical Institute, Inc. ------------------------------------------------ (Name of Issuer) Common Stock, $0.0001 par value ------------------------------------------------ (Title of Class of Securities) 913915104 ------------------------------------------------ (CUSIP Number) Wendy Menefee Pivot Point Capital Partners, LLC One Sansome Street, Suite 2900 San Francisco, CA 94104 (415) 343-7074 Copy to: Julia Corelli Pepper Hamilton LLP 2 Logan Square, Suite 3000 Philadelphia, PA 19103-2799 (215) 981-4000 ------------------------------------------------ (Name, address and telephone number of Person Authorized to Receive Notices and Communications) August 16, 2010 ------------------------------------------------ (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 that is the subject of this Schedule 13D, and is filing this schedule because of 240.13d-1(e), 240.13d-1(f) or 240.13d-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 240.13d-7 for other parties to whom copies are to be sent. *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. This information required on the remainder of this cover page shall not be deemed to be 'filed' for the purpose of Section 18 of the Securities Exchange Act of 1934 ('Act') or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Page 1 of 12 =========================================================================== SCHEDULE 13D - -------------------------- ----------------------- CUSIP NO. 913915104 Page 2 of 12 - --------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE PERSON (entities only) Pivot Point Capital Master, LP 20-5031308 - --------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] - --------------------------------------------------------------------------- 3. SEC USE ONLY - --------------------------------------------------------------------------- 4. SOURCE OF FUNDS (See Instructions)* WC* - --------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - --------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - --------------------------------------------------------------------------- 7. SOLE VOTING POWER 0 NUMBER OF -------------------------------------------------------- SHARES 8. SHARED VOTING POWER BENEFICIALLY 970,034** OWNED BY EACH -------------------------------------------------------- PERSON WITH 9. SOLE DISPOSITIVE POWER 0 -------------------------------------------------------- 10. SHARED DISPOSITIVE POWER 970,034** - --------------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 970,034** - --------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - --------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.0% - --------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON PN - --------------------------------------------------------------------------- *See Item 3 **See Item 2 and 5 SCHEDULE 13D - ------------------------ ------------------------- CUSIP NO. 913915104 Page 3 of 12 - --------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE PERSON (entities only) Pivot Point Capital, LP 20-2259088 - --------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] - --------------------------------------------------------------------------- 3. SEC USE ONLY - --------------------------------------------------------------------------- 4. SOURCE OF FUNDS (See Instructions)* WC* - --------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - --------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - --------------------------------------------------------------------------- 7. SOLE VOTING POWER 0 NUMBER OF -------------------------------------------------------- SHARES 8. SHARED VOTING POWER BENEFICIALLY 970,034** OWNED BY EACH -------------------------------------------------------- PERSON WITH 9. SOLE DISPOSITIVE POWER 0 -------------------------------------------------------- 10. SHARED DISPOSITIVE POWER 970,034** - --------------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 970,034** - --------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - --------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.0% - --------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON PN - --------------------------------------------------------------------------- *See Item 3 **See Item 2 and 5 SCHEDULE 13D - -------------------------- ------------------------ CUSIP NO. 913915104 Page 4 of 12 - --------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE PERSON (entities only) Pivot Point Capital Offshore, L.P. 20-5085181 - --------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] - --------------------------------------------------------------------------- 3. SEC USE ONLY - --------------------------------------------------------------------------- 4. SOURCE OF FUNDS (See Instructions)* WC* - --------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - --------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands - --------------------------------------------------------------------------- 7. SOLE VOTING POWER 0 NUMBER OF -------------------------------------------------------- SHARES 8. SHARED VOTING POWER BENEFICIALLY 970,034** OWNED BY EACH -------------------------------------------------------- PERSON WITH 9. SOLE DISPOSITIVE POWER 0 -------------------------------------------------------- 10. SHARED DISPOSITIVE POWER 970,034** - --------------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 970,034** - --------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - --------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.0% - --------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON PN - --------------------------------------------------------------------------- *See Item 3 **See Item 2 and 5 SCHEDULE 13D - -------------------------- ----------------------- CUSIP NO. 913915104 Page 5 of 12 - --------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE PERSON (entities only) Pivot Point Capital Offshore DS, Ltd. - --------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] - --------------------------------------------------------------------------- 3. SEC USE ONLY - --------------------------------------------------------------------------- 4. SOURCE OF FUNDS (See Instructions)* WC* - --------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - --------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands - --------------------------------------------------------------------------- 7. SOLE VOTING POWER 0 NUMBER OF -------------------------------------------------------- SHARES 8. SHARED VOTING POWER BENEFICIALLY 970,034** OWNED BY EACH -------------------------------------------------------- PERSON WITH 9. SOLE DISPOSITIVE POWER 0 -------------------------------------------------------- 10. SHARED DISPOSITIVE POWER 970,034** - --------------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 970,034** - --------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - --------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.0% - --------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON CO - --------------------------------------------------------------------------- *See Item 3 **See Item 2 and 5 SCHEDULE 13D - -------------------------- ----------------------- CUSIP NO. 913915104 Page 6 of 12 - --------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE PERSON (entities only) Pivot Point Capital Partners, LLC 20-1888857 - --------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] - --------------------------------------------------------------------------- 3. SEC USE ONLY - --------------------------------------------------------------------------- 4. SOURCE OF FUNDS* 00* - --------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - --------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - --------------------------------------------------------------------------- 7. SOLE VOTING POWER 0 NUMBER OF -------------------------------------------------------- SHARES 8. SHARED VOTING POWER BENEFICIALLY 970,034** OWNED BY EACH -------------------------------------------------------- PERSON WITH 9. SOLE DISPOSITIVE POWER 0 -------------------------------------------------------- 10. SHARED DISPOSITIVE POWER 970,034** - --------------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 970,034** - --------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - --------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.0% - --------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON 00 (LLC) - --------------------------------------------------------------------------- *See Item 3 **See Item 2 and 5 SCHEDULE 13D - -------------------------- ----------------------- CUSIP NO. 913915104 Page 7 of 12 - --------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE PERSON (entities only) Pivot Point Capital GP, LLC 20-2258940 - --------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] - --------------------------------------------------------------------------- 3. SEC USE ONLY - --------------------------------------------------------------------------- 4. SOURCE OF FUNDS* 00* - --------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - --------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - --------------------------------------------------------------------------- 7. SOLE VOTING POWER 0 NUMBER OF -------------------------------------------------------- SHARES 8. SHARED VOTING POWER BENEFICIALLY 970,034** OWNED BY EACH -------------------------------------------------------- PERSON WITH 9. SOLE DISPOSITIVE POWER 0 -------------------------------------------------------- 10. SHARED DISPOSITIVE POWER 970,034** - --------------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 970,034** - --------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - --------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.0% - --------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON 00 (LLC) - --------------------------------------------------------------------------- *See Item 3 **See Item 2 and 5 SCHEDULE 13D - -------------------------- ----------------------- CUSIP NO. 913915104 Page 8 of 12 - --------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE PERSON (entities only) ANTHONY P. BRENNER - --------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] - --------------------------------------------------------------------------- 3. SEC USE ONLY - --------------------------------------------------------------------------- 4. SOURCE OF FUNDS* 00* - --------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - --------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION U.S.A. - --------------------------------------------------------------------------- 7. SOLE VOTING POWER 0 NUMBER OF -------------------------------------------------------- SHARES 8. SHARED VOTING POWER BENEFICIALLY 970,034** OWNED BY EACH -------------------------------------------------------- PERSON WITH 9. SOLE DISPOSITIVE POWER 0 -------------------------------------------------------- 10. SHARED DISPOSITIVE POWER 970,034** - --------------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 970,034** - --------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - --------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.0% - --------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON IN - --------------------------------------------------------------------------- *See Item 3 **See Item 2 and 5 SCHEDULE 13D - ------------------------ ------------------------- CUSIP NO. 913915104 Page 9 of 12 - --------------------------------------------------------------------------- Item 1. Security and Issuer This Amendment No. 1 amends the Schedule 13D (the 'Schedule 13D')filed with the Securities and Exchange Commission (the 'Commission') on April 6, 2009 by Pivot Point Capital Master, LP, a Delaware limited partnership ('PPC Master'); Pivot Point Capital, LP, a Delaware limited partnership ('PPC LP'); Pivot Point Capital Offshore, L.P., a Cayman Islands exempted limited partnership ('PPC Offshore'); Pivot Point Capital Offshore DS, Ltd., a Cayman Islands exempt corporation ('DS Fund'); Pivot Point Capital GP, LLC, a Delaware limited liability company ('PPC GP'); Pivot Point Capital Partners, LLC, a Delaware limited liability company ('PPCP'); and Anthony P. Brenner (collectively, the 'Reporting Persons'). This amendment relates to the Common Stock, $0.0001 par value per share (the 'Common Stock'), of Universal Technical Institute, Inc. a Delaware corporation (the 'Issuer'). The address of the principal executive offices of the Issuer is 20410 North 19th Avenue, Suite 200, Phoenix, Arizona 85027. The following amendments to the Schedule 13D are hereby made. Unless otherwise defined herein, all capitalized terms shall have the meanings ascribed to them in the initial Schedule 13D. Item 2. Identity and Background There have been no changes to Item 2 since the initial Schedule 13D filed on April 6, 2009. Item 3. Source and Amount of Funds or Other Consideration There have been no changes to Item 3 since the initial Schedule 13D filed on April 6, 2009. Item 4. Purpose of Transaction There have been no changes to Item 4 since the initial Schedule 13D filed on April 6, 2009. Item 5. Interest in Securities of the Issuer (a),(b). According to the Issuer's Form 10Q filed with the Securities and Exchange Commission on August 4, 2010, there were 24,222,486 shares of Common Stock issued and outstanding as of July 29, 2010. Based on such information, after taking into account the transactions described in Item 5(c) below, the Reporting Persons report beneficial ownership of 970,034 shares of Common Stock, representing 4.0% of the outstanding Common Stock, by PPC Master on behalf of the feeder funds, PPC LP, PPC Offshore and DS Fund. Shares reported as beneficially owned by PPC Master, PPC LP, PPC Offshore and DS Fund LP are also reported as beneficially owned by (i) PPC GP as the general partner of PPC Master, PPC LP and PPC Offshore and as SCHEDULE 13D - ------------------------ ------------------------- CUSIP NO. 913915104 Page 10 of 12 - --------------------------------------------------------------------------- Manager of DS Fund, and (ii) PPCP in its capacity as investment advisor to PPC Master, PPC LP, PPC Offshore and DS Fund. Voting and investment power concerning the above shares are held solely by PPC GP and PPCP and Anthony Brenner as sole Managing Member of both entities. The Reporting Persons therefore may be deemed to be members of a group, in which case the group would be deemed to have beneficial ownership of an aggregate of 970,034 shares of the Common Stock, which is 4.0% of the outstanding Common Stock. The filing of this Schedule 13D shall not be construed as an admission that any of the executive officers, managing members or members of PPCP and PPC GP is, for any purpose, the beneficial owner of any of the securities that are beneficially owned by the Reporting Persons. (c) The following shares of Common Stock were sold by the Reporting Persons in the open market within the last sixty days: Reporting Person Trade Date Shares Price/Share - ---------------- ---------- --------- ----------- Pivot Point Capital 07/14/2010 15,000 23.1605 Master, LP 07/15/2010 1,100 22.8426 07/16/2010 8,423 22.3080 07/19/2010 30,000 22.9915 07/21/2010 3,700 22.5280 07/22/2010 600 21.9713 07/28/2010 900 20.9396 07/30/2010 15,000 20.3215 08/02/2010 15,000 20.6869 08/09/2010 43,800 16.9994 08/10/2010 24,688 16.4109 08/11/2010 26,860 16.4690 08/12/2010 14,862 15.8879 08/13/2010 12,500 15.0889 08/16/2010 104,201 16.2230 08/17/2010 76,236 15.9277 08/18/2010 49,207 16.4441 08/19/2010 37,300 16.3708 08/20/2010 52,483 16.3032 (d) Not applicable. (e) The Reporting Persons ceased to beneficially own 5% of the Issuer's Common Stock on August 16, 2010. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer There have been no changes to Item 6 since the initial Schedule 13D filed on April 6, 2009. Item 7. Material to Be Filed as Exhibits Exhibit 1: Joint Filing Undertaking SCHEDULE 13D - -------------------------- ----------------------- CUSIP NO. 913915104 Page 11 of 12 - --------------------------------------------------------------------------- SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. Pivot Point Capital Master, LP, by Pivot Point Capital GP, LLC, its General Partner By: /s/ Anthony P. Brenner -------------------------------------- Dated: August 20, 2010 Anthony P. Brenner, Managing Member Pivot Point Capital, LP, by Pivot Point Capital GP, LLC, its General Partner By: /s/ Anthony P. Brenner -------------------------------------- Dated: August 20, 2010 Anthony P. Brenner, Managing Member Pivot Point Capital Offshore, L.P., by Pivot Point Capital GP, LLC, its General Partner By: /s/ Anthony P. Brenner -------------------------------------- Dated: August 20, 2010 Anthony P. Brenner, Managing Member Pivot Point Capital Offshore DS, Ltd., by Pivot Point Capital GP, LLC, its Manager By: /s/ Anthony P. Brenner -------------------------------------- Dated: August 20, 2010 Anthony P. Brenner, Director Pivot Point Capital GP, LLC By: /s/ Anthony P. Brenner -------------------------------------- Dated: August 20, 2010 Anthony P. Brenner, Managing Member Pivot Point Capital Partners, LLC By: /s/ Anthony P. Brenner -------------------------------------- Dated: August 20, 2010 Anthony P. Brenner, Managing Member /s/ Anthony P. Brenner -------------------------------------- Dated: August 20, 2010 Anthony P. Brenner SCHEDULE 13D - -------------------------- ------------------------- CUSIP NO. 913915104 Page 12 of 12 - --------------------------------------------------------------------------- Exhibit 1 JOINT FILING UNDERTAKING The undersigned, being duly authorized thereunto, hereby execute this agreement as an exhibit to this Schedule 13D to evidence the agreement of the below-named parties, in accordance with the rules promulgated pursuant to the Securities Exchange Act of 1934, to file this Schedule jointly on behalf of each such party. Pivot Point Capital Master, LP, by Pivot Point Capital GP, LLC, its General Partner By: /s/ Anthony P. Brenner -------------------------------------- Dated: August 20, 2010 Anthony P. Brenner, Managing Member Pivot Point Capital, LP, by Pivot Point Capital GP, LLC, its General Partner By: /s/ Anthony P. Brenner -------------------------------------- Dated: August 20, 2010 Anthony P. Brenner, Managing Member Pivot Point Capital Offshore, L.P., by Pivot Point Capital GP, LLC, its General Partner By: /s/ Anthony P. Brenner -------------------------------------- Dated: August 20, 2010 Anthony P. Brenner, Managing Member Pivot Point Capital Offshore DS, Ltd., by Pivot Point Capital GP, LLC, its Manager By: /s/ Anthony P. Brenner -------------------------------------- Dated: August 20, 2010 Anthony P. Brenner, Director Pivot Point Capital GP, LLC By: /s/ Anthony P. Brenner -------------------------------------- Dated: August 20, 2010 Anthony P. Brenner, Managing Member Pivot Point Capital Partners, LLC By: /s/ Anthony P. Brenner -------------------------------------- Dated: August 20, 2010 Anthony P. Brenner, Managing Member /s/ Anthony P. Brenner -------------------------------------- Dated: August 20, 2010 Anthony P. Brenner -----END PRIVACY-ENHANCED MESSAGE-----