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Daniel Croteau, a director at UFP Technologies Inc. (NASDAQ:UFPT), recently sold a significant portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Croteau sold a total of 7,346 shares of common stock on February 27, 2025. The transactions were executed at prices ranging from $225.70 to $233.23 per share, resulting in a total sale value of approximately $1.56 million. The sale comes as the stock has experienced a notable decline, down about 11% year-to-date, according to InvestingPro data.
Following these transactions, Croteau retains ownership of 1,785 shares of UFP Technologies. The sales were executed in multiple transactions, with the prices reflecting a weighted average within the specified range. The company, currently valued at $1.65 billion, has caught analysts’ attention with price targets ranging from $370 to $392 per share.
Investors often scrutinize such insider transactions to gauge the sentiment of company executives regarding the company’s future prospects. InvestingPro analysis suggests the stock is currently fairly valued, with additional insights available through 10 more exclusive ProTips covering profitability, debt levels, and growth metrics.
In other recent news, UFP Technologies announced significant changes to their executive compensation structure, effective January 1, 2025. The company’s CEO, R. Jeffrey Bailly, will see his base salary increase to $789,000, while President Mitchell C. Rock and CFO Ronald J. Lataille will have their salaries adjusted to $525,000 and $485,000, respectively. Additionally, the Compensation Committee approved stock unit awards for the executives, contingent on meeting specific financial performance objectives. These stock units are set to vest over a three-year period starting March 1, 2026, provided that performance targets are achieved. CEO Bailly was granted various stock units, including "Threshold," " Target (NYSE:TGT)," and "Exceptional" categories, which will convert into common stock upon vesting. Furthermore, Mr. Bailly is eligible for a 2025 cash bonus plan with a target of $828,450, potentially doubling if certain performance goals are met. Other executives are also included in a cash bonus plan, with targets ranging from 40% to 65% of their base salaries. These developments reflect UFP Technologies’ strategy to align executive incentives with the company’s financial success.
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