UNICO AMERICAN CORP FILES (8-K) Disclosing Change in Directors or Principal Officers

Edgar Glimpses |

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

On , the Board of Directors of Unico American Corporation ("Unico") appointed Michael Budnitsky, Unico's Treasurer, Chief Financial Officer and Secretary, to the Board of Directors of Unico to fill the vacancy created by the passing of Lester A. Aaron. Mr. Budnitsky will serve as a director until the next annual meeting of Unico's shareholders. Mr. Budnitsky, as an employee director, will not receive separate compensation for his service on the Board of Directors of Unico. Also, the Board of Directors of Unico appointed Samuel J. Sorich to replace Mr. Aaron on the Compensation Committee.

In addition, on , the Board of Directors of Unico eliminated the position of Executive Vice President previously held by Mr. Aaron.

A copy of the press release relating to the foregoing is attached hereto as Exhibit 99.1. The information in the Exhibit attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.

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