# EDGAR Filing Document

**Accession Number:** 0000944480
**File Stem:** 0000944480-23-000003
**Filing Date:** 2023-1
**Character Count:** 9759
**Document Hash:** e6f1d91fd9a552ac29490c850c171831
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000944480-23-000003.hdr.sgml**: 20230118

**ACCESSION NUMBER**: 0000944480-23-000003

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20230118

**ITEM INFORMATION**: Regulation FD Disclosure

**FILED AS OF DATE**: 20230118

**DATE AS OF CHANGE**: 20230118

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GSE SYSTEMS INC
- **CENTRAL INDEX KEY:** 0000944480
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **IRS NUMBER:** 521868008
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-14785
- **FILM NUMBER:** 23533041

**BUSINESS ADDRESS:**
- **STREET 1:** 6940 COLUMBIA GATEWAY DRIVE, SUITE 470
- **CITY:** COLUMBIA
- **STATE:** MD
- **ZIP:** 21046-3308
- **BUSINESS PHONE:** 4109707874

**MAIL ADDRESS:**
- **STREET 1:** 6940 COLUMBIA GATEWAY DRIVE, SUITE 470
- **CITY:** COLUMBIA
- **STATE:** MD
- **ZIP:** 21046-3308

#### 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

#### January 18, 2023
Date of Report (Date of earliest event reported)

#### GSE SYSTEMS, INC.
(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **<u>Delaware</u>** | **<u>001-14785</u>** | **<u>52-1868008</u>** |
| (State of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
| **<u>6940 Columbia Gateway Dr., Suite 470, Columbia, MD 21046</u>** | **<u>6940 Columbia Gateway Dr., Suite 470, Columbia, MD 21046</u>** | **<u>6940 Columbia Gateway Dr., Suite 470, Columbia, MD 21046</u>** |
| (Address of principal executive offices and zip code) | (Address of principal executive offices and zip code) | (Address of principal executive offices and zip code) |
| <u>(410) 970-7800</u> | <u>(410) 970-7800</u> | <u>(410) 970-7800</u> |
| (Registrant's telephone number, including area code) | (Registrant's telephone number, including area code) | (Registrant's telephone number, including area code) |

---

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 Instructions 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:

---

| | | |
|:---|:---|:---|
| <u>Title of each class</u> | <u>Trading Symbol(s)</u> | <u>Name of each exchange on which registered</u> |
| Common Stock, $0.01 Par Value | GVP | The NASDAQ Capital Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§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. ☐

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#### Item 7.01. Regulation FD Disclosure

GSE Systems, Inc. (the "Company") has issued a press release announcing Renewed 5-Year Contract with Additional Options Worth Up to Approximately $28.3M for Engineering Services. A copy of the Company's press release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference.

Cautionary Statement Regarding Forward-Looking Statements

This Current Report on Form 8-K contains "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended (the Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Company has made these forward-looking statements in reliance on the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify these statements by forward-looking words such as "at that time," "expects," "intends," "may," "remain," "seeking," "will," "would," or the negative of these terms and other similar terminology. Such forward-looking statements are predictions and projections about future events based on the Company's current expectations, objectives, and intentions and are premised on current assumptions. Actual outcomes could be materially different than those expressed, implied, or anticipated by forward-looking statements due to a variety of factors, including, but not limited to: market conditions and their impact on the Company's trading price on the Nasdaq Capital Market; our ability to manage performance and other risks related to customer contracts; delays in the U.S. government contract procurement process of the award of contracts or our ability to win contracts; changes in U.S. government procurement rules, regulations and practices; and other important factors discussed in Part I, Item 1A, "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2021, which was filed with the SEC on March 31, 2022 (its Annual Report) and its subsequent reports on Forms 10-Q and 8-K filed with the SEC. Any forward-looking statements made by the Company in this Current Report on Form 8-K are based only on currently available information and speak only as of the date of this report. Except as otherwise required by securities and other applicable laws, the Company does not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change.

#### <br>

#### Item 9.01 Financial Statements and Exhibits
(c) Exhibits

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.1 The press release of GSE Systems, Inc., dated January 18, 2023, announcing Renewed 5-Year Contract with Additional Options Worth Up to Approximately $28.3M for Engineering Services.

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#### SIGNATURES

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 hereunto duly authorized.

GSE SYSTEMS, INC.

By:

*<u>/s/ Daniel Pugh</u>* 

Daniel Pugh

Secretary, Chief Legal and Risk Officer

January 18, 2023

## Exhibit 99.1

Exhibit 99.1<br>

### <br>

### GSE Announces Renewed 5-Year Contract with Additional Options<br> Worth Up to Approximately $28.3M for Engineering Services

COLUMBIA, MD – January 18, 2023– GSE Solutions ("GSE Systems, Inc." or "GSE") (Nasdaq: GVP), a leader in advanced engineering and workforce solutions that supports the future of clean-energy production and decarbonization initiative of the power industry, today announced a new contract for the expansion of specialized support services to two US Government engineering laboratories dedicated to the support of the US Navy.

GSE will continue to serve as a subcontractor to a large global engineering, construction, and project management firm that has the master contract for managing the labs. GSE will provide Engineering services that include simulation engineers and test specialists to support simulation-based training systems.

The contract was awarded in January, and the initial year of the contract is worth $5.47 million, which will go into the backlog and take effect on February 1, 2023. The contract includes additional options for the subsequent four years that, if exercised, would bring the total value to approximately $28.3 million over five years. GSE has been under a series of service contracts with these laboratories for 21 years and has been tasked to build and test training systems used across a number of government locations in support of the US Navy.

"We are thrilled to win this contract, which represents an extension and expansion of our relationship with the labs. We are honored for the opportunity to continue our long-standing, successful relationship with the laboratories," states Kyle Loudermilk, President and CEO of GSE. "I am incredibly grateful and proud to serve this customer in support of the US Navy mission."

###

**ABOUT GSE SOLUTIONS**<br> Proven by more than 50 years of experience in the nuclear power industry, GSE knows what it takes to help customers deliver carbon-free electricity safely and reliably. Today, GSE Solutions leverages top talent, expertise, and technology to help energy facilities achieve next-level power plant performance. GSE's advanced <u>Engineering</u> and <u>Workforce Solutions</u> divisions offer highly specialized training, engineering design, program compliance, simulation, and technical staffing that reduce risk and optimize plant operations. With more than 1,100 installations and hundreds of customers in over 50 countries, GSE delivers operational excellence. <u>www.gses.com</u>

#### Media Contact
Sunny DeMattio<br> GSE Solutions

Director of Marketing & Communications<br> sunny.demattio@gses.com

Direct: +1 410.970.7931

#### Investor Contact
Adam Lowensteiner<br> Vice President<br> Lytham Partners<br> gvp@lythampartners.com<br> Direct: +1 646.829.9702

<br>