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UFP INDUSTRIES INC

For the period ended Dec 30, 2023. Filed Feb 28, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 28, 2024

UFPI$79.92-3.7%Stored close · as of Nov 6, 2026
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM****10-K

☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the fiscal year ended December 30, 2023.

OR

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period of ____ to _____.

Commission File No.:0-22684

UFP INDUSTRIES, INC.

(Exact name of registrant as specified in its charter)

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Michigan​38-1465835
(State or other jurisdiction of incorporation or organization)​(I.R.S. Employer Identification No.)
​​​
2801 East Beltline, N.E., Grand Rapids, Michigan​49525
(Address of principal executive offices)​(Zip Code)

Registrant’s telephone number, including area code**(616)**364-6161

Securities registered pursuant to Section 12(b) of the Act:

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Title of Each ClassTrading SymbolName of Each Exchange on Which Registered
Common Stock, $1 par valueUFPIThe NASDAQ Global Select Market

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ⌧ No◻

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes◻ No ⌧

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ⌧ No◻

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files)Yes ⌧ No◻

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.

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Large accelerated filer ⌧Accelerated filer ◻Non-accelerated filer ◻Smaller Reporting Company ☐Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with a new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Yes◻ No⌧

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☒

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. Yes☐ No⌧

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). Yes◻ No⌧

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes☐ No⌧

The aggregate market value of the common stock held by non-affiliates of the registrant (i.e. excluding shares held by executive officers, directors, and control persons as defined in Rule 405, 17 CFR 230.405) on July 1, 2023 (which was the last trading day of the registrant’s second quarter in the fiscal year ended December 30, 2023) was $5,684,288,927 computed at the closing price of $97.05 on that date.

As of February 3, 2024,61,624,287 shares of the registrant’s common stock, $1 par value, were outstanding.

Documents incorporated by reference:

(1)Certain portions of the registrant’s Annual Report to Shareholders for the fiscal year ended December 30, 2023 are incorporated by reference into Part I and II of this Report.
(2)Certain portions of the registrant’s Proxy Statement for its 2024 Annual Meeting of Shareholders are incorporated by reference into Part III of this Report.

Exhibit Index located on page E-21.

ANNUAL REPORT ON FORM 10-K

DECEMBER 30, 2023

TABLE OF CONTENTS

​​​
PART I
​​​
Item 1.Business.2
Item 1A.Risk Factors.8
Item 1B.Unresolved Staff Comments.10
Item 1C.Cybersecurity.10
Item 2.Properties.13
Item 3.Legal Proceedings.15
Item 4.Mine Safety Disclosures.15
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Additional item: Executive Officers of the Registrant.15
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PART II
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Item 5.Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities.16
Item 6.[Reserved]16
Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations.16
Item 7A.Quantitative and Qualitative Disclosures About Market Risk.16
Item 8.Financial Statements and Supplementary Data.17
Item 9.Changes In and Disagreements with Accountants on Accounting and Financial Disclosure.17
Item 9A.Controls and Procedures.17
Item 9B.Other Information.18
Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections.18
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PART III
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Item 10.Directors, Executive Officers and Corporate Governance.18
Item 11.Executive Compensation.18
Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters.18
Item 13.Certain Relationships and Related Transactions, and Director Independence.19
Item 14.Principal Accountant Fees and Services.19
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PART IV
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Item 15.Exhibits, Financial Statement Schedules.20
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Exhibit Index.21
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.