Company: UFPT
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001171843-25-002638
Chunk: 28

Company: UFP TECHNOLOGIES INC
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 28
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quisites including marina fees, life insurance and company-paid tax preparation fees. These Chief Executive Officer perquisites are offered principally to facilitate the Chief Executive Officer’s role as our representative within the community, and to entertain customers.

Policy on Equity‑Based Award Timing and Pricing

Our Board of Directors adopted a policy whereby equity‑based awards are only to be granted by the approval of a majority vote of members of the Compensation Committee at a committee meeting. Our 2003 Incentive Plan establishes fair market value as the closing price on the date of grant of any equity security, including stock options, granted pursuant to such plan.

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Stockholder Advisory Vote on Executive Compensation

In reviewing our 2024 compensation decisions and policies, we considered the results of our stockholders’ advisory vote to approve executive compensation, which was conducted at our 2024 annual meeting of stockholders. In the proxy statement provided to stockholders in connection with our 2024 annual meeting, our Board of Directors recommended that stockholders vote in favor of this proposal. The affirmative vote of a majority of the votes cast by the stockholders entitled to vote on this proposal at the 2024 annual meeting was required for advisory approval of this proposal. Over 90% of such shares were voted to approve, on an advisory basis, our executive compensation. We considered this vote as supportive of our compensation decisions and policies.

Compensation Committee Interlocks and Insider Participation

For all of 2024, the Compensation Committee was comprised of Marc Kozin, Daniel C. Croteau and Joseph John Hassett. None of the members of the Compensation Committee was an employee or a current or former officer of the Company during such period. None of the Compensation Committee members had a relationship with the Company requiring disclosure during their service on the Compensation Committee.

<div align='center'>Compensation Committee Report</div>

The Compensation Committee of the Board of Directors of the Company has reviewed and discussed the foregoing Compensation Discussion and Analysis with management of the Company and based on such review and discussion, the Compensation Committee has recommended to the Board of Directors that the Compensation Discussion and Analysis be included in this Proxy Statement.

By the Compensation Committee of the Board of Directors:

Joseph John Hassett, Chair

Marc Kozin

Daniel C. Croteau

<div align='center'>22

EXECUTIVE COMPENSATION</div>

The following tables present information regarding compensation of each of the named executive officers for services rendered in fiscal years 2024, 2023 and 2022. A description