Company: UFPT
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001171843-25-003049
Chunk: 88

Company: UFP TECHNOLOGIES INC
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 88
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 in selling, general & administrative expenses as follows (in thousands):

			Three Months Ended

			March 31,

			Share-based compensation related to:

			2025

			2024

			Common stock grants

			$
			100

			$
			100

			Stock option grants

			108

			113

			Restricted Stock Unit Awards ("RSUs")

			2,004

			1,300

			Total share-based compensation

			$
			2,212

			$
			1,513

The total income tax benefit recognized in the condensed consolidated statements of comprehensive income for share-based compensa‐tion arrangements was approximately $1.2 million and $1.1 million for the three-month periods ended March 31, 2025 and 2024, respectively.

Common Stock Grants

The compensation expense for common stock granted during the three-month period ended March 31, 2025, was determined based on the market price of the shares on the date of grant.

16

Stock Option Grants

The following is a summary of stock option activity under all plans for the three-month period ended March 31, 2025:

			Shares Under Options

			Weighted Average Exercise Price (per share)

			Weighted Average Remaining Contractual Life (in years)

			Aggregate Intrinsic Value (in thousands)

			Outstanding at December 31, 2024

			73,232

			$
			67.15

			Granted

			-

			-

			Exercised

			(7,024
			)

			45.26

			Outstanding at March 31, 2025

			66,208

			$
			69.47

			4.57

			$
			8,931

			Exercisable at March 31, 2025

			63,250

			$
			60.51

			4.35

			$
			8,931

			Vested and expected to vest at March 31, 2025

			66,208

			$
			69.47

			4.57

			$
			8,931

During the three-month periods ended March 31, 2025 and 2024, the total intrinsic value of all options exercised (