Insiders to sell 2.1M shares at $31.50 in secondary offering; company receives no proceeds

On February 8, 2023, NAPCO Security Technologies, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Needham & Company, LLC and William Blair & Company, L.L.C. (the “Underwriters”), the Company’s President, Chief Executive Officer and Chairman of the Board of Directors, Richard L. Soloway, and the Company’s Chief Financial Officer and Executive Vice President of Operations, Kevin S. Buchel (each, a “Selling Stockholder” and together, the “Selling Stockholders”), relating to the sale by the Selling Stockholders of an aggregate of 2,100,000 shares of the Company’s common stock, $0.01 par value per share (the “Common Stock”) owned by them in an underwritten secondary public offering, at a price to the public of $31.50 per share.