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

Scott A. Worthington, President of UFP Packaging, LLC, reports acquiring 11 phantom stock units and holding 16,008 shares of UFP Industries Inc. common stock.

Summary

• On July 31, 2024, Scott A. Worthington, President of UFP Packaging, LLC, reported a transaction involving UFP Industries Inc. (UFPI).
• Worthington acquired 11 phantom stock units under the company's Deferred Compensation Plan.
• These units are payable in shares of UFPI's common stock upon death, disability, or retirement.
• The price of the phantom stock units was $131.93.
• Following the reported transaction, Worthington beneficially owns 16,008 shares of UFPI common stock, which includes shares acquired through a dividend reinvestment plan.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing, indicating standard executive compensation practices. It doesn't inherently suggest positive or negative sentiment, but rather reflects ongoing operations.

Positives

• The acquisition of phantom stock units aligns executive compensation with the long-term performance of UFP Industries.
• Participation in the dividend reinvestment plan demonstrates a commitment to the company's stock.

Industry Context

Executive compensation packages often include stock-based awards to align management's interests with those of shareholders. Phantom stock units are a common tool for deferred compensation.

Stakeholder Impact

• The acquisition of phantom stock units by an executive can reassure shareholders that management's interests are aligned with theirs.

Key Dates