Company: UFPT
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001171843-25-002638
Chunk: 27

Company: UFP TECHNOLOGIES INC
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 27
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Policy for the Recovery of Erroneously Awarded Compensation— in accordance with the applicable rules of the Nasdaq Stock Market, Section 10D and Rule 10D-1 of the Securities Exchange Act of 1934, as amended, we have adopted a Policy for the Recovery of Erroneously Awarded Compensation to provide for the recovery of erroneously awarded incentive-based compensation from Executive Officers.

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Employee, Officer and Director Hedging—our personnel are prohibited from engaging in any of the following activities with respect to our securities: (a) hedging or other similar arrangements with respect to our securities, including, without limitation, (i) short sales and (ii) buying or selling puts or calls (excluding options we have granted); and (b) holding our securities in a margin account or pledging our securities as collateral for a loan.

Deferred Compensation Plan—in 2006, we implemented the UFP Technologies Executive Nonqualified Excess Plan (the “Deferred Compensation Plan”). Under the Deferred Compensation Plan, named executive officers and other key employees are eligible to defer up to 90% of base salary and 100% of bonus and/or commissions into the plan. Investments of the deferrals are directed by the participants (notionally) and returns on the deferrals are determined accordingly. Employer contributions into the Deferred Compensation Plan are discretionary and determined by the Compensation Committee. No employer contributions were made in 2024.

Supplemental Disability Insurance—named executive officers receive long‑term disability insurance coverage to supplement our group long‑term disability plan. The objective is to provide named executive officers with sufficient coverage to replace a significant portion of their wages in the event of disability. We pay the premiums, which amounted to approximately $62,196 in the aggregate for all named executive officers in 2024.

Profit Sharing/401(k) Plan—all employees of UFP Technologies, Inc., including named executive officers, who meet certain criteria are eligible to participate in the UFP Technologies, Inc. 401(k) Plan (the “401(k) Plan”). For 2024, the Company matched employee deferrals (including those of our named executive officers) using a safe harbor matching formula, which was 100% of the first 3%, then 50% of the next 2% of eligible employee compensation deferred on each paycheck.

Perquisites—we provide welfare benefits to our named executive officers with officer contributions consistent with contributions by other UFP employees. The Chief Executive Officer is also eligible for additional per