UNITED
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SECURITIES AND EXCHANGE COMMISSION
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FORM
Current Report Pursuant to
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Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective September 25, 2020, Mr. William David Smith ceased to be Senior Vice President, Operational Excellence and Shared Services and is no longer employed by UFP Technologies, Inc. (the “Company”). The Company thanks Mr. Smith for his many contributions over the years and wishes him well in his future endeavors.
In connection with Mr. Smith’s departure, on September 23, 2020, the Company entered into a Separation Agreement and General Release with Mr. Smith (the “Separation Agreement”), pursuant to which Mr. Smith has agreed to a general release of claims and certain other confidentiality and non-disparagement restrictions. Pursuant to the Separation Agreement, Mr. Smith will receive severance benefits based on his years of service with the Company.
The Separation Agreement is filed as Exhibit 10.1 to this Current Report on 8-K and is incorporated herein by reference. The foregoing description of the Separation Agreement is not intended to be complete and is qualified in its entirety by reference to the full text of the Separation Agreement.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description |
| 10.1 | Form of Separation Agreement and General Release, dated September 23, 2020, between William David Smith and UFP Technologies, Inc. |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: September 25, 2020 | UFP TECHNOLOGIES, INC. | ||
| By: | /s/ Ronald J. Lataille | ||
| Ronald J. Lataille, Chief Financial | |||
| Officer and Senior Vice President | |||