CROTEAU DANIEL C 4

What Happened
Daniel C. Croteau, a director of UFP Technologies Inc. (UFPT), exercised stock options on 2026-05-08. The Form 4 shows an exercise (transaction code M) resulting in the acquisition of 2,864 shares at an exercise price of $22.02 per share (total cost $63,065). The filing also records a simultaneous disposition of 2,864 shares at $0 (derivative-coded), which commonly reflects shares withheld or surrendered in connection with the exercise rather than an open-market sale.

Key Details

• Transaction date: 2026-05-08; Form 4 filed: 2026-05-12 (filed 4 days after the transaction; Form 4s are generally due within 2 business days).
• Exercise: 2,864 shares acquired @ $22.02 = $63,065.
• Disposition: 2,864 shares disposed @ $0 (derivative entry on the same date).
• Shares owned after transaction: not specified in the provided filing.
• Notable: exercise recorded with a matching zero-price disposition (often indicates net settlement or tax withholding rather than a market sale).

Context
This was an option exercise (derivative conversion). When a director exercises options, the activity can reflect personal financial decisions (paying the exercise price) rather than a directional market bet; the zero-price disposition suggests shares may have been surrendered to cover taxes or exercise costs rather than sold in the open market. The filing appears to have been submitted after the typical 2-business-day deadline.