UFP Technologies raises CEO base salary to $680k, grants $300k special bonus and stock options

UFP TECHNOLOGIES INC

Base salary increases effective Jan 1, 2023: CEO Bailly $680k, CFO Lataille $440k, SVP Litterio $355k, SVP Rock $440k, VP Cardin $325k.
Special discretionary cash bonus of $300k to CEO Bailly for 2022 exceptional financial performance.
Stock options to CEO Bailly: 7,766 shares at $111.54, vesting 50% on Mar 1, 2024 and 50% on Mar 1, 2025.
Stock unit awards to executives with threshold, target, exceptional levels based on adjusted operating income, vesting over 3 years.
2023 CEO bonus plan target $680k, max $1.36M; other executives target 40-50% of base salary.

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