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<TITLE>Filed by Bowne Pure Compliance</TITLE>
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<P style="font-size: 14pt" align="center"><B>UNITED STATES<BR>
SECURITIES AND
EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P style="font-size: 18pt" align="center"><B>FORM 8-K</B>

<P style="font-size: 12pt" align="center"><B>CURRENT REPORT<BR>
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P style="font-size: 10pt" align="center"><B>Date of Report (Date of earliest
event reported): November 21, 2008</B>


<P style="font-size: 24pt" align="center"><B>Safeguard Scientifics,
Inc.<BR>
</B><FONT style="font-size: 10pt">(Exact name of registrant as
specified in its charter) </FONT>
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  <TD width="32%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="33%">&nbsp;</TD>
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  <TD width="32%">&nbsp;</TD>
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 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>Pennsylvania</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>1-5620</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>23-1609753</B></TD>
 </TR>
 <TR valign="top">
  <TD>(State or other Jurisdiction of Incorporation)</TD>
  <TD>&nbsp;</TD>
  <TD>(Commission File Number)</TD>
  <TD>&nbsp;</TD>
  <TD>(IRS Employer Identification No.)</TD>
 </TR>

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cellpadding="0" width="100%" border="0">

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  <TD width="49%">&nbsp;</TD>
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  <TD width="49%">&nbsp;</TD>
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  <TD style="border-bottom: #000000 1px solid"><B>435 Devon Park Drive,
Building 800, Wayne, PA<BR>
</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>19087</B></TD>
 </TR>
 <TR valign="top">
  <TD>(Address of Principal Executive Offices)</TD>
  <TD>&nbsp;</TD>
  <TD>(Zip Code)</TD>
 </TR>

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<P style="font-size: 10pt" align="center">Registrant&#8217;s telephone number,
including area code: <B>610-293-0600</B>
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cellpadding="0" width="30%" border="0">

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  <TD width="100%">&nbsp;</TD>
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 <TR>
  <TD style="border-bottom: #000000 1px solid" nowrap><B>Not
applicable<BR>
</B></TD>
 </TR>
 <TR>
  <TD nowrap>(Former name or former address if changed since last report.)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="left">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:

<P style="font-size: 10pt" align="left"><FONT face="Wingdings">o</FONT> Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)<BR>
<BR>
<FONT face="Wingdings">o</FONT> Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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style="margin-left: 0.25in; width: 7.2in; font-family: 'Times New Roman',Times,serif">

<P style="font-size: 10pt" align="left"><B>ITEM 5.04</B>. <U><B>Temporary Suspension of Trading under
Registrant&#8217;s Employee Benefit Plans.</B></U>

<P style="font-size: 10pt" align="left">On November&nbsp;21, 2008, the Plan
Administrator for the Safeguard Scientifics, Inc. Retirement Plan (the
&#8220;401(k) Plan&#8221;) notified Safeguard Scientifics, Inc.
(&#8220;Company&#8221;) of a proposed blackout period regarding the 401(k)
Plan, in accordance with the requirements of Section&nbsp;101(i)(2)(E) of the
Employee Retirement Income Security Act of 1974, as amended.&nbsp;&nbsp;The
blackout period for the 401(k) Plan is expected to commence during the week
beginning December&nbsp;21, 2008 and is expected to end during the week
beginning January&nbsp;18, 2009 (the &#8220;Blackout Period&#8221;). The
Blackout Period is required in order to effect a transition of the
administration of the 401(k) Plan to a new service provider.

<P style="font-size: 10pt" align="left">During the Blackout Period,
participants in the 401(k) Plan will be temporarily suspended from making
certain transactions under the 401(k) Plan, including directing or diversifying
investments, obtaining a loan from the 401(k) Plan, and obtaining a
distribution or withdrawal from the 401(k) Plan.&nbsp;&nbsp;Notice of the
Blackout Period was sent to all participants or beneficiaries under the 401(k)
Plan on November&nbsp;21, 2008.

<P style="font-size: 10pt" align="left">On November&nbsp;21, 2008, the Company
sent a notice to its directors and executive officers informing them of the
Blackout Period and the prohibitions on engaging in any non-exempt transactions
in equity securities of the Company during the Blackout Period, as well as
during the regularly scheduled quarterly blackout periods applicable to
directors and certain employees (including all executive officers) (the
&#8220;Notice&#8221;). The Company&#8217;s regularly scheduled quarterly
blackout period begins prior to the Blackout Period and will not end until
after the end date of the Blackout Period.

<P style="font-size: 10pt" align="left">The Notice was provided to the
Company&#8217;s directors and executive officers pursuant to the requirements
of Section&nbsp;306 of the Sarbanes-Oxley Act of 2002 and Rule&nbsp;104 of the
Securities and Exchange Commission&#8217;s Regulation&nbsp;BTR.&nbsp;&nbsp;A
copy of the Notice is attached as Exhibit&nbsp;99.1 to this Current Report on
Form 8-K and incorporated by reference herein.

<P style="font-size: 10pt" align="left">A participant in the 401(k) Plan, a
security holder or other interested person may obtain, without charge,
information regarding the Blackout Period, including the actual ending date of
the Blackout Period.&nbsp;&nbsp;Information may be obtained before, during and
for at least two years after the Blackout Period by any of the following
methods:

<P style="font-size: 10pt" align="left"><I>Mail &#8212; </I>Safeguard
Scientifics, Inc., 435 Devon Park Drive, Building 800, Philadelphia, PA 19087;
Attn: Corporate Secretary <BR>
<I>Phone &#8212; </I>(610)&nbsp;293-0600
<BR>
&nbsp; <BR>
<B>ITEM 9.01. </B><U><B>Financial Statements and
Exhibits</B></U>

<P style="font-size: 10pt" align="left">(d)&nbsp;Exhibits

<P style="font-size: 10pt; text-indent: 4%" align="left">99.1 Notice of
Blackout Period provided to Safeguard Scientifics, Inc. directors and executive
officers

<P style="font-size: 10pt" align="center">SIGNATURES

<P style="font-size: 10pt" align="left">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.

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 <TR valign="bottom">
  <TD>&nbsp;</TD>
  <TD align="left" colspan="2">Safeguard Scientifics, Inc.</TD>
</TR>


<TR><TD>&nbsp;</TD></TR>

 <TR valign="bottom">
  <TD align="left" valign="top">Dated: November&nbsp;21, 2008 </TD>
  <TD valign="top" align="left">By: </TD>
  <TD valign="top" align="left" style="border-bottom: #000000 1px solid">BRIAN J. SISKO</TD>
 </TR>

 <TR valign="bottom">
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">&nbsp;</TD>
  <TD valign="top" align="left">Brian J. Sisko<BR>
Senior Vice President and General Counsel</TD>
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<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">2
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{"company-data": {"conformed-name": "SAFEGUARD SCIENTIFICS INC", "cik": "0000086115", "assigned-sic": "7389", "irs-number": "231609753", "state-of-incorporation": "PA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-05620", "film-number": "081208055"}, "business-address": {"street1": "435 DEVON PARK DR", "street2": "BLDG 800", "city": "WAYNE", "state": "PA", "zip": "19087", "phone": "6102930600"}, "mail-address": {"street1": "435 DEVON PARK DR", "street2": "BLDG 800", "city": "WAYNE", "state": "PA", "zip": "19087"}, "former-company": [{"former-conformed-name": "SAFEGUARD INDUSTRIES INC", "date-changed": "19810525"}, {"former-conformed-name": "SAFEGUARD CORP", "date-changed": "19690521"}]}
Filed by Bowne Pure Compliance
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
Date of Report (Date of earliest
event reported): November 21, 2008
Safeguard Scientifics,
Inc.
(Exact name of registrant as
specified in its charter)
Pennsylvania
1-5620
23-1609753
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
435 Devon Park Drive,
Building 800, Wayne, PA
19087
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number,
including area code:
610-293-0600
Not
applicable
(Former name or former address if changed since last report.)
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:
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 5.04
.
Temporary Suspension of Trading under
Registrant's Employee Benefit Plans.
On November 21, 2008, the Plan
Administrator for the Safeguard Scientifics, Inc. Retirement Plan (the
"401(k) Plan") notified Safeguard Scientifics, Inc.
("Company") of a proposed blackout period regarding the 401(k)
Plan, in accordance with the requirements of Section 101(i)(2)(E) of the
Employee Retirement Income Security Act of 1974, as amended.  The
blackout period for the 401(k) Plan is expected to commence during the week
beginning December 21, 2008 and is expected to end during the week
beginning January 18, 2009 (the "Blackout Period"). The
Blackout Period is required in order to effect a transition of the
administration of the 401(k) Plan to a new service provider.
During the Blackout Period,
participants in the 401(k) Plan will be temporarily suspended from making
certain transactions under the 401(k) Plan, including directing or diversifying
investments, obtaining a loan from the 401(k) Plan, and obtaining a
distribution or withdrawal from the 401(k) Plan.  Notice of the
Blackout Period was sent to all participants or beneficiaries under the 401(k)
Plan on November 21, 2008.
On November 21, 2008, the Company
sent a notice to its directors and executive officers informing them of the
Blackout Period and the prohibitions on engaging in any non-exempt transactions
in equity securities of the Company during the Blackout Period, as well as
during the regularly scheduled quarterly blackout periods applicable to
directors and certain employees (including all executive officers) (the
"Notice"). The Company's regularly scheduled quarterly
blackout period begins prior to the Blackout Period and will not end until
after the end date of the Blackout Period.
The Notice was provided to the
Company's directors and executive officers pursuant to the requirements
of Section 306 of the Sarbanes-Oxley Act of 2002 and Rule 104 of the
Securities and Exchange Commission's Regulation BTR.  A
copy of the Notice is attached as Exhibit 99.1 to this Current Report on
Form 8-K and incorporated by reference herein.
A participant in the 401(k) Plan, a
security holder or other interested person may obtain, without charge,
information regarding the Blackout Period, including the actual ending date of
the Blackout Period.  Information may be obtained before, during and
for at least two years after the Blackout Period by any of the following
methods:
Mail —
Safeguard
Scientifics, Inc., 435 Devon Park Drive, Building 800, Philadelphia, PA 19087;
Attn: Corporate Secretary
Phone —
(610) 293-0600
ITEM 9.01.
Financial Statements and
Exhibits
(d) Exhibits
99.1 Notice of
Blackout Period provided to Safeguard Scientifics, Inc. directors and executive
officers
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.
Safeguard Scientifics, Inc.
Dated: November 21, 2008
By:
BRIAN J. SISKO
Brian J. Sisko
Senior Vice President and General Counsel