0001558370-23-016934.txt : 20231027 0001558370-23-016934.hdr.sgml : 20231027 20231027130024 ACCESSION NUMBER: 0001558370-23-016934 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20231023 ITEM INFORMATION: Changes in Registrant's Certifying Accountant ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20231027 DATE AS OF CHANGE: 20231027 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: 231354465 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 nssc-20231023x8k.htm 8-K
0000069633false00000696332023-10-232023-10-23

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)

October 23, 2023

NAPCO SECURITY TECHNOLOGIES, INC.

(Exact name of registrant as specified in charter)

Delaware

    

0-10004

    

11-2277818

(State or other jurisdiction of

 

(Commission File Number)

 

(IRS Employer Identification No.)

incorporation)

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)

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))

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

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 4.01.    CHANGES IN REGISTRANT’S CERTIFYING ACCOUNTANT

The Audit Committee (the “Committee”) of the Board of Directors of NAPCO Security Technologies, Inc. (the “Company”) is in the process of conducting a competitive selection process to determine the Company’s independent registered public accounting firm for the fiscal year ending June 30, 2024. As part of this process, on October 23, 2023, the Audit Committee determined to dismiss its current independent registered public accounting firm, Baker Tilly US, LLP (“Baker Tilly”), effective on the Company’s filing of its Form 10-Q for the quarter ending September 30, 2023. This decision was communicated to Baker Tilly on October 24, 2023.

The Company anticipates engaging a new independent registered public accounting firm simultaneously with, or shortly after, the effective date of Baker Tilly’s dismissal.

The reports of Baker Tilly on the Company’s consolidated financial statements for the fiscal years ended June 30, 2023 and 2022 did not contain an adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles. In connection with the audits of the Company’s consolidated financial statements for the years ended June 30, 2023 and 2022 and the subsequent interim period through September 30, 2023, there were no disagreements within the meaning of Item 304(a)(1)(iv) of Regulation S-K promulgated under the Exchange Act (“Regulation S-K”) and the related instructions thereto, with Baker Tilly on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of Baker Tilly, would have caused Baker Tilly to make reference to the subject matter of the disagreements in connection with its reports. Also, during this same period, there are no reportable events (as that term is described in Item 304 (a)(1)(v) of Regulation S-K and the related instructions thereto) except for the material weaknesses in the Company’s internal control over financial reporting previously reported in Item 9A of the Company’s Annual Reports on Form 10-K for the fiscal years ended June 30, 2023 and 2022 and for the subsequent period through September 30, 2023.

The Company has provided a copy of the foregoing disclosures to Baker Tilly and requested that Baker Tilly furnish it with a letter addressed to the Securities and Exchange Commission, stating whether Baker Tilly agrees with the above statements. A copy of Baker Tilly’s letter dated October 27, 2023 is filed as Exhibit 16.1 to this Form 8-K.

Item 9.01.    FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits:

16.1

   

Letter dated October 27, 2023 from Baker Tilly to Securities and Exchange Commission.

10 4

Cover Page Interactive Data File (formatted as Inline XBRL).

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: October 27, 2023

By:

/s/ Kevin S. Buchel

 

 

Kevin S. Buchel

 

 

Executive Vice President and Chief Financial Officer

EX-16.1 2 nssc-20231023xex16d1.htm EX-16.1

Exhibit 16.1

Graphic

Baker Tilly US, LLP

1500 RXR Plaza, West Tower

Uniondale, NY 11556

United States of America

T: +1 (516) 747 2000

F: +1 (516) 747 6707

bakertilly.com

October 27, 2023

Securities and Exchange Commission

100 F Street, NE

Washington, DC 20549

Dear Ladies and Gentlemen:

We are the independent registered public accounting firm for Napco Security Technologies, Inc. (the Company). We have read the Company’s disclosure set forth in Item 4.01 Changes in Registrants Certifying Accountant of the Companys Current Report on Form 8-K dated October 27, 2023 (the Current Report) and are in agreement with the disclosure in the Current Report, insofar as it pertains to our firm.

Sincerely,

Graphic

/s/ Baker Tilly US, LLP

Baker Tilly US, LLP, trading as Baker Tilly, is a member of the global network of Baker Tilly International Ltd., the members of which are separate and independent legal entities. © 2020 Baker Tilly US, LLP

Rev. July 2023


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Cover
Oct. 23, 2023
Cover [Abstract]  
Document Type 8-K
Document Period End Date Oct. 23, 2023
Entity File Number 0-10004
Entity Registrant Name NAPCO SECURITY TECHNOLOGIES, INC.
Entity Incorporation, State or Country Code DE
Entity Tax Identification Number 11-2277818
Entity Address, Address Line One 333 Bayview Avenue
Entity Address, City or Town Amityville
Entity Address, State or Province NY
Entity Address, Postal Zip Code 11701
City Area Code 631
Local Phone Number 842-9400
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, par value $0.01 per share
Trading Symbol NSSC
Security Exchange Name NASDAQ
Entity Emerging Growth Company false
Entity Central Index Key 0000069633
Amendment Flag false
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