Company: UFPT
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001171843-25-005268
Chunk: 14

Company: UFP TECHNOLOGIES INC
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 14
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 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).

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 Ended

			Six Months Ended

			June 30,

			June 30,

			Share-based compensation related to:

			2025

			2024

			2025

			2024

			Common stock grants

			$
			100

			$
			100

			$
			200

			$
			200

			Stock option grants

			65

			118

			173

			230

			Restricted Stock Unit Awards ("RSUs")

			2,120

			1,518

			4,124

			2,819

			Total share-based compensation

			$
			2,285

			$
			1,736

			$
			4,497

			$
			3,249

16

The total income tax benefit recognized in the condensed consolidated statements of comprehensive income for share-based compensation arrangements was approximately $0.8 million and $2.0 million for the three and six months ended June 30, 2025, respectively, and approximately $0.5 million and $1.5 million for the three and six months ended June 30, 2024.

Common Stock Grants

The compensation expense for common stock granted during the six months ended June 30, 2025, was determined based on the market price of the shares on the date of grant.

Stock Option Grants

The following is a summary of stock option activity under all plans for the six months ended June 30, 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