UNITED GUARDIAN INC appointed new CEO

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


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.