Form 4: UFP Industries Executive Scott A. Worthington Reports Acquisition of Phantom Stock Units

Scott A. Worthington, President of UFP Packaging, LLC, acquired 13 phantom stock units of UFP Industries Inc. on December 30, 2024, under the company's Deferred Compensation Plan.

Summary

• Scott A. Worthington, President of UFP Packaging, LLC, reported a transaction involving phantom stock units of UFP Industries Inc.
• On December 30, 2024, Mr. Worthington acquired 13 phantom stock units.
• These units were accrued under the company's Deferred Compensation Plan.
• The phantom stock units are payable in shares of UFP Industries' common stock upon the reporting person's death, disability, or retirement.
• The price of the underlying common stock at the time of the transaction was $112.19.
• Mr. Worthington's total holdings after the transaction include 16,153 shares, including those acquired through a dividend reinvestment plan.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation, which is generally neutral to positive. The acquisition of phantom stock units suggests confidence in the company's future performance.

Positives

• The acquisition of phantom stock units indicates continued alignment of executive interests with the company's long-term performance.
• The deferred compensation plan provides a mechanism for long-term incentive for key personnel.

Industry Context

This is a routine filing related to executive compensation and is common practice for publicly traded companies. It reflects the company's use of deferred compensation plans to incentivize executives.

Comparison to Industry Standards

• Deferred compensation plans are a common practice among publicly traded companies to align executive interests with long-term shareholder value.
• Many companies in the building materials and packaging industry, such as West Fraser Timber Co. Ltd. and Packaging Corporation of America, use similar compensation structures.
• The use of phantom stock units is a standard method for providing equity-based compensation without immediate dilution of existing shares.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns executive interests with long-term company performance.
• The use of a deferred compensation plan is a common practice and is not expected to have a significant impact on other stakeholders.

Key Dates

Keywords

UFP Industries, Phantom Stock Units, Deferred Compensation Plan, Executive Compensation, Scott A. Worthington, Insider Trading, Form 4