Company: UFPT
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050425
Chunk: 68

Company: UFP TECHNOLOGIES INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 68
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 at carrying amounts that approximate fair value because of the short maturity of those instruments. The carrying amount of the Company’s long-term debt approximates fair value as the interest rate on the debt approximates the estimated borrowing rate currently available to the Company.

(8)    Share-Based Compensation

Share-based compensation is measured at the grant date based on the fair value of the award and is recognized as an expense over the requisite service period (generally the vesting period of the equity grant).

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The Company issues share-based awards through several plans that are described in detail in the notes to the consolidated financial statements for the year ended December 31, 2024. The compensation cost charged against income from those plans is included in selling, general & administrative expenses as follows (in thousands):Three Months EndedNine Months EndedSeptember 30,September 30,Share-based compensation related to:2025202420252024Common stock grants$100 $100 $300 $300 Stock option grants— 127 173 357 Restricted Stock Unit Awards ("RSUs")1,859 1,312 5,983 4,130 Total share-based compensation$1,959 $1,539 $6,456 $4,787 The total income tax benefit recognized in the condensed consolidated statements of comprehensive income for share-based compensation arrangements was approximately $0.5 million and $2.5 million for the three and nine months ended September 30, 2025, respectively, and approximately $0.4 million and $1.9 million for the three and nine months ended September 30, 2024.Common Stock GrantsThe compensation expense for common stock granted during the nine months ended September 30, 2025, was determined based on the market price of the shares on the date of grant.Stock Option GrantsThe following is a summary of stock option activity under all plans for the nine months ended September 30, 2025:Shares Under OptionsWeighted Average Exercise Price (per share)Weighted Average Remaining Contractual Life (in years)Aggregate Intrinsic Value (in thousands)Outstanding at December 31, 202473,232$67.15 Exercised(11,263)36.02 Outstanding at September 30, 202561,969$72.80 4.35$8,039 Exercisable at September 30, 202561,969$72.80 4.35$8,039