secwatch.observer — SEC 8-K summary
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Issuer:     UFP TECHNOLOGIES INC (UFPT)
CIK:        0000914156
Form:       8-K
Filed at:   2023-02-21T23:59:59+00:00
Accession:  0001171843-23-001068
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/914156/000117184323001068/0001171843-23-001068-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/914156/000117184323001068/f8k_022123.htm
  HTML page:      https://secwatch.observer/filing/0001171843-23-001068

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer