Form 4: UFP Industries Executive Reports Acquisition of Phantom Stock Units

Patrick M. Benton, Pres, UFP Construction, LLC, reports acquisition of phantom stock units in UFP Industries under the company's Deferred Compensation Plan.

Summary

• On March 29, 2024, Patrick M. Benton, Pres, UFP Construction, LLC, reported the acquisition of 11 phantom stock units of UFP Industries Inc.
• These units were accrued under the company's Deferred Compensation Plan and are payable in shares of common stock upon death, disability, or retirement.
• The price of the phantom stock units was $123.01.
• Following the transaction, Benton beneficially owns 10,797 derivative securities, which includes units acquired through dividend reinvestment.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects routine executive compensation practices and alignment of interests. There are no indications of negative news or concerns.

Positives

• The acquisition of phantom stock units aligns the executive's interests with the long-term performance of the company.
• The Deferred Compensation Plan provides a tax-advantaged way for executives to save for retirement.

Future Outlook

The phantom stock units will be payable in shares of the company's common stock upon the reporting person's death, disability, or retirement.

Industry Context

Executive compensation packages often include stock-based awards to incentivize performance and align executive interests with shareholder value. Phantom stock units are a common tool used in deferred compensation plans.

Stakeholder Impact

• The acquisition of phantom stock units has a minimal direct impact on stakeholders.
• It reinforces the company's commitment to incentivizing its executives.

Key Dates