Company: UFPT
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001171843-25-002638
Chunk: 35

Company: UFP TECHNOLOGIES INC
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 35
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 for fiscal 2024 of $66,309,000. The amounts in Threshold, Target and Maximum columns are cumulative; the “Target” award amount includes the full amount of the “Threshold” award amount, and the “Exceptional” award amount includes the full amount of both the “Threshold” and “Target” Amounts. Based upon our achievement of $75,856,022 in actual Adjusted Operating Income for our 2024 fiscal year, the Compensation Committee determined that the Target goal had been fully achieved and that the Maximum goal had been 96% achieved. Accordingly, each named executive officer earned the number of stock unit awards set forth in the Target column and 96% of those stock unit awards set forth in the Maximum column. |

| (4) | In accordance with the terms of Mr. Bailly’s employment agreement, these shares were approved for Mr. Bailly by the Compensation Committee on February 6, 2024, and granted and issued on December 20, 2024, valued at $252.85 per share, the closing price of the Common Stock on the date of issuance. The grant was for a fixed dollar amount of $400,000, with the number of shares to be determined on the date of issuance based upon the closing price on that date. Mr. Bailly was also granted stock options in 2023 (as part of his bonus for 2022), the value of which was reflected in the Summary Compensation Table for 2022 (as noted in footnote 2 to the Summary Compensation Table). |

<div align='center'>26

Outstanding Equity Awards at Fiscal 2024 Year‑End</div>

| Name                    |     | Option Awards 
 Number of     
 Securities    
 Underlying    
 Unexercised   
 Options (#)   
 Exercisable   |       |     | Number of     
 Securities    
 Underlying    
 Unexercised   
 Options (#)   
 Unexercisable |       |     | Option   
 Exercise 
 Price    
 ($)(1)   |        |     | Option     
 Expiration 
 Date       |           |     | Stock Awards 
 Number of    
 Shares or    
 Units of     
 Stock That   
 Have Not     
 Vested       
 (#)(2)       |        |    |     | Market Value 
 of Shares or 
 Units of     
 Stock That   
 Have Not     
 Vested       
 ($)(3)       |           |
|:------------------------|:----|:--------------|------:|:----|:--------------|------:|