Company: UFPT
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001171843-25-002638
Chunk: 31

Company: UFP TECHNOLOGIES INC
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 31
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, consisting of 1,792 incentive stock options and 6,143 non-qualified stock options. Each of the stock options has an exercise price of $111.54 per share, a term of five years, and is fully exercisable. The assumptions used to calculate the value of the stock options are set forth under Note 1(l)—Share Based Compensation, to our consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024. |

| (3) | The amounts included in the “Stock Awards” column represent the grant date fair value of stock unit awards granted to the named executive officers. Amounts shown do not reflect compensation actually received by the named executive officer nor does it necessarily reflect the actual value that will be recognized by the named executive officer. Instead, the amount shown is the grant date fair value of restricted stock granted to the named executive officer computed in accordance with FASB ASC, Topic 718, Compensation—Stock Compensation. The assumptions used to calculate the value of restricted stock unit awards are set forth under Note 1(l)—Share‑Based Compensation, to our consolidated financial statements included in our Annual Report on Form 10‑K for the fiscal year ended December 31, 2024. The grant date fair value is based upon the probable outcome of the performance conditions applicable to each award. Because 96% of the Exceptional share payout was earned, the grant date fair value of all stock awards granted in 2024 to each named executive officer was as follows: for Mr. Bailly, $2,625,077; for Mr. Lataille, $741,416; for Mr. Rock, $871,090; for Mr. Litterio $303,892 and for Mr. Holt, $197,975. However, in the case of Mr. Bailly, the amount also includes a grant of 1,582 shares of Common Stock issued on December 20, 2024 at the closing price of $252.85 on that date with a grant date fair value of $400,000. |

| (4) | Represents performance‑based incentive bonuses earned in 2024, 2023 and 2022 that were paid in March 2025, 2024 and 2023, respectively. |

| (5) | Represents our payments for (i) 2024, 2023 and 2022, respectively, of tax preparation fees and marina fees for Mr