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

Company: UFP TECHNOLOGIES INC
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 25
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 Income, the financial component of Mr. Bailly’s incentive bonus is determined as $200,000 (half of the targeted bonus) plus 1.6% of the amount by which actual Adjusted Operating Income exceeds 80% of targeted Adjusted Operating Income. Based upon our financial performance as well as an assessment of his performance for fiscal 2024, Mr. Bailly was awarded a total performance-based bonus amount of $1,410,000.

Ronald J. Lataille—Mr. Lataille’s targeted payout level was 50% of base salary, or $230,000. Based upon our financial performance as well as an assessment of his performance for fiscal 2024, Mr. Lataille was awarded a total bonus amount of $354,094.

Mitchell C. Rock—Mr. Rock’s targeted payout level was 50% of base salary, or $250,000. Based upon our financial performance as well as an assessment of his performance for fiscal 2024, Mr. Rock was awarded a total bonus amount of $386,794.

Christopher P. Litterio—Mr. Litterio’s targeted payout level was 45% of base salary, or $166,500. Based upon our financial performance as well as an assessment of his performance for fiscal 2024, Mr. Litterio was awarded a total bonus amount of $233,276.

Jason Holt— Mr. Holts’s targeted payout level was 40% of base salary, or $135,200. Based upon our financial performance as well as an assessment of his performance for fiscal 2024, Mr. Holt was awarded a total bonus amount of $178,518.

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Long‑term Incentives—it is our philosophy and that of the Compensation Committee to provide executives with long‑term incentives to align their financial interests with those of our stockholders. We maintain a stock unit award program for the named executive officers under the 2003 Incentive Plan, as amended and restated (the “2003 Incentive Plan”). The stock unit awards represent a right to receive shares of our Common Stock in varying amounts based on our achievement of certain financial performance objectives and time‑based vesting requirements. For 2024, the following stock unit awards were approved by our Compensation Committee for grant to our named executive officers:

|                         |     | Threshold(1)(2) 
 Number of       
 shares          |       |     | Grant Date 
 Value