UFP TECHNOLOGIES INC — Director's Dealing 2023

Feb 16, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: UFP TECHNOLOGIES INC (UFPT)
CIK: 0000914156
Period of Report: 2023-02-14

Reporting Person: BAILLY R JEFFREY (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-02-14	Common Stock, $.01 Par Value	A	14150	—	Acquired	286858	Direct
2023-02-14	Common Stock, $.01 Par Value	A	7056	—	Acquired	293914	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-02-14	Stock Option (Right to Buy)	$111.54	A	7766	Acquired	2028-02-14	Common Stock, $.01 Par Value (7766)	Direct

Footnotes

F1: Represents restricted stock units granted on February 15, 2022, under the Issuer's 2003 Incentive Plan subject to satisfaction of performance targets that are to be settled solely in shares of common stock. The transaction date represents the date on which the Issuer's Compensation Committee determined the performance targets were achieved. The units vest with respect to one-third of the shares on March 1, 2023 and with respect to an additional one-third on each of March 1, 2024 and 2025, so long as the recipient is in the continuous employ of the Issuer through each such respective vesting date.

F2: Represents stock unit awards granted on February 14, 2023, under the Issuer's 2003 Incentive Plan the vesting under which is solely time-based, that are to be settled solely in shares of common stock. The units vest with respect to one-third of the shares on March 1, 2024 and with respect to an additional one-third on each of March 1, 2025 and 2026, so long as the recipient is in the continuous employ of the Issuer through each such respective vesting date.

F3: The reporting person also holds 109,929 shares of UFP Technologies, Inc. indirectly by Trust.

F4: The option becomes exercisable with respect to 50% of the shares on March 1, 2024 and 50% of the shares on March 1, 2025.