R. Jeffrey Bailly

Chairman and Chief Executive Officer at UFP Technologies Inc

Board

Since January 1, 1995

Age

62 years

Tenure

Joined UFPT in 1988 and progressed through roles including Division Manager (1989–1992), General Manager of Northeast Operations (1992–1994), Vice President of Operations (1994–1995), President (1995–2024), and ultimately has served as Chief Executive Officer since 01-01-1995 and Chairman since October 2006.

Also at UFP Technologies Inc

CPL

Christopher P. Litterio

General Counsel, Secretary, and Senior Vice President of Human Resources

Jason Holt

Vice President and Chief Commercial Officer

MCR

Mitchell C. Rock

President

About

Personal and Early Professional Background:

A certified public accountant, he began his professional journey at Coopers & Lybrand from 1984 to 1988, building a strong foundation in accounting and finance. This early experience has been integral in shaping his analytical approach and leadership style in the manufacturing domain.

Professional Journey at UFPT:

He joined UFPT in 1988 and has steadily advanced through key roles, including Division Manager (1989–1992), General Manager of Northeast Operations (1992–1994), and Vice President of Operations (1994–1995). His appointment as President in 1995, followed by his long-standing tenure as Chief Executive Officer since 01-01-1995 and as Chairman since October 2006, highlights a progressive career marked by consistent promotions and strategic leadership.

Contributions and Leadership Impact:

Beyond his operational roles, his contributions have been pivotal in driving UFPT’s growth and innovation, particularly in advanced manufacturing solutions. His involvement in influential leadership organizations, such as the World Presidents’ Organization and Young Presidents’ Organization, further reinforces his commitment to excellence and industry leadership.

$UFPT Performance Under R. Jeffrey Bailly

Past Roles

Organization	Role	Date Range	Details
UFP Technologies	President	1995–2024	Held prior to becoming Chairman & CEO
UFP Technologies	Vice President of Operations	1994–1995	N/A
UFP Technologies	General Manager Northeast Operations	1992–1994	N/A
UFP Technologies	Division Manager	1989–1992	N/A
Coopers & Lybrand	Certified Public Accountant	1984–1988	Gained experience in accounting and finance

External Roles

Organization	Role	Date Range
World Presidents’ Organization	Member	N/A

Fixed Compensation

Data from FY 2023

Component Name	Amount	Payment Schedule	Additional Details
Base Salary	$680,000	Annual (2023)	Fixed annual base salary
Annual Stock Grant	$400,000	Issued on December 26, 2023	2,247 shares at $178.05 per share

Performance Compensation

Data from FY 2023

Cash Bonus Component

Metric	Value	Details
Target AOI	$48,227,000	Base target for performance measurement
Actual AOI	$61,336,342	Exceeded target; Threshold (80%): $38,581,600, Exceptional (115%): $55,461,050
Financial Incentive	$400,000	Portion tied to adjusted operating income
Individual Goals Incentive	$280,000	For acquisitions, cost reductions, safety, quality compliance, and ROIC objectives
Total Cash Bonus Cap	$1,360,000	2x base salary cap
Cash Bonus Awarded	$1,360,000	Awarded due to performance exceeding targets

Stock Unit Awards Component

Metric	Value	Details
Grant Date	February 14, 2023	Date of grant
Grant Date Fair Value	$2,361,000	Fair value of equity incentive plan awards
Grant Date Stock Price	$178.05	Price per share for the annual stock grant issued on December 26, 2023
Threshold Shares	7,056 shares	Minimum performance threshold
Target Shares	14,112 shares	Target level at 100% performance
Exceptional Shares	21,168 shares	Awarded for exceptional performance (exceeding 115% of target AOI)
Vesting Schedule	1/3 on March 1, 2024; March 1, 2025; March 1, 2026	Vesting in equal installments, subject to continued employment and performance