On June 11, 2021, Safe Harbor Capital Partners, LLC ('Safe Harbor'), owned indirectly by Carl E. Vogel, a member of the Board of Directors of Universal Electronics Inc., established a new trading plan with an effective start date of June 25, 2021 (the 'Plan'), in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934 (the 'Exchange Act'). Rule 10b5-1 permits an individual who is not then in possession of material nonpublic information to establish a prearranged plan to buy or sell stock at a specific price or prices in the future, regardless of any subsequent material nonpublic information.
Under the Plan, Safe Harbor intends to sell no more than 37,500 shares of Universal Electronics Inc. common stock owned by it from time to time commencing June 25, 2021 and continuing until November 30, 2021, subject to certain specified price limits. These shares were issued to Mr. Vogel as part of his compensation as a non-employee director. The Plan will facilitate the orderly sale of common stock for Mr. Vogel's personal financial planning purposes with the goal of minimizing any market impact and avoiding any concerns about the timing of the transactions.