UFP Technologies Confirms Non-Emerging Growth Status in 8-K Filing

TL;DR

**UFP Technologies is NOT an emerging growth company, meaning full SEC rules apply.**

AI Summary

UFP Technologies, Inc. filed an 8-K on February 8, 2024, reporting an event that occurred on February 6, 2024. The filing indicates that the company is not an emerging growth company, as defined by Rule 405 of the Securities Act of 1933. This matters to investors because it confirms UFP Technologies operates under the full regulatory requirements of established public companies, which can imply greater transparency and compliance costs compared to emerging growth companies.

Why It Matters

This filing clarifies UFP Technologies' regulatory status, confirming it is subject to standard public company reporting requirements, which can impact administrative costs and investor perception of maturity.

Risk Assessment

Risk Level: low — This filing is purely administrative and does not indicate any new financial or operational risks for the company.

Analyst Insight

A smart investor would note this administrative filing confirms UFP Technologies' status as a mature public company, implying standard regulatory oversight and no immediate changes to its compliance burden.

Key Players & Entities

• UFP TECHNOLOGIES, INC. (company) — the registrant filing the 8-K
• February 6, 2024 (date) — date of the earliest event reported
• February 8, 2024 (date) — date the 8-K was filed
• Rule 405 of the Securities Act of 1933 (other) — definition of an emerging growth company

Forward-Looking Statements

• UFP Technologies will continue to operate under full SEC reporting requirements. (UFP Technologies, Inc.) — high confidence, target: Ongoing

FAQ

Key Financial Figures

• $500,000 — ase in Mr. Rock's annual base salary to $500,000, effective February 6, 2024, and grante
• $705,000 — Chief Executive Officer and Chairman $705,000 January 1, 2024 Mitchell C. Rock Pr
• $460,000 — Treasurer and Chief Financial Officer $460,000 January 1, 2024 Christopher P. Litte
• $370,000 — t of Human Resources and Chief Counsel $370,000 January 1, 2024 Steve Cardin Vice P
• $338,000 — e Cardin Vice President, COO Medtech $338,000 January 1, 2024 Stock Unit Awards
• $1,410,000 — base salary), with a maximum amount of $1,410,000 (two times Mr. Bailly's annual base sal

Filing Documents

• f8k_020724.htm (8-K) — 42KB
• exh_101.htm (EX-10.1) — 51KB
• exh_102.htm (EX-10.2) — 49KB
• exh_991.htm (EX-99.1) — 2KB
• 0001171843-24-000679.txt ( ) — 342KB
• ufpt-20240206_lab.xml (EX-101.LAB) — 33KB
• ufpt-20240206_pre.xml (EX-101.PRE) — 22KB
• ufpt-20240206.xsd (EX-101.SCH) — 3KB
• f8k_020724_htm.xml (XML) — 3KB

02

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Appointment of Mitchell C. Rock as President of UFP Technologies, Inc. On February 6, 2024, the Board of Directors (the "Board") of UFP Technologies, Inc. (the "Company") appointed Mitchell C. Rock to President of the Company, effective immediately. Mr. Rock, 56, initially joined the Company in 1991 and served as Director, Sales and Marketing of the Company's Moulded Fibre division. From May 1999 through October 2000, Mr. Rock served as Vice President, Sales and Business Development of Esprocket, an internet start up company. Mr. Rock rejoined the Company in April 2001 as Vice President, Sales and Marketing of the Company's Moulded Fibre division and served as the Company's Vice President of Sales and Marketing from May 2002 to June 2014. From June 2014 to June 2021, Mr. Rock served as the Company's Senior Vice President of Sales and Marketing, and from January 1, 2020 to June 2021, Mr. Rock also served as General Manager, Medical. Since June 2021, Mr. Rock has served as President, UFP MedTech. In connection with Mr. Rock's promotion, the Compensation Committee of the Board (the "Compensation Committee") approved an increase in Mr. Rock's annual base salary to $500,000, effective February 6, 2024, and granted 5,134 stock unit awards to Mr. Rock, as further described below. There are no arrangements or understandings between Mr. Rock and any other person pursuant to which Mr. Rock was promoted to President of the Company. There are no family relationships between Mr. Rock and any director or executive officer of the Company, and he has no indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. Base Salaries At a meeting on February 6, 2024, the Compensation Committee approved increases in the base salaries of the Company's named executive officer

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. On February 6, 2024, the Company issued a press release announcing Mitchell Rock's appointment as President of the Company. A copy of this press release is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. Limitation on Incorporation by Reference. The information furnished in this Item 7.01, including the press release attached hereto as Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing. Cautionary Note Regarding Forward-Looking Statements. Except for historical information contained in the presentation attached as an exhibit hereto, the press release contains forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these statements.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 10.1 Form of 2024 CEO Stock Unit Award Agreement. 10.2 Form of 2024 Stock Unit Award Agreement. 99.1 Press Release issued by UFP Technologies, Inc. on February 6, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: February 8, 2024 UFP TECHNOLOGIES, INC. By: /s/ Ronald J. Lataille Ronald J. Lataille, Chief Financial Officer and Senior Vice President

View Full Filing

View this 8-K filing on SEC EDGAR