<SEC-DOCUMENT>0001140361-22-012830.txt : 20220404
<SEC-HEADER>0001140361-22-012830.hdr.sgml : 20220404
<ACCEPTANCE-DATETIME>20220404124043
ACCESSION NUMBER:		0001140361-22-012830
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20220404
DATE AS OF CHANGE:		20220404

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UFP INDUSTRIES INC
		CENTRAL INDEX KEY:			0000912767
		STANDARD INDUSTRIAL CLASSIFICATION:	SAWMILLS, PLANNING MILLS, GENERAL [2421]
		IRS NUMBER:				381465835
		STATE OF INCORPORATION:			MI
		FISCAL YEAR END:			1225

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22684
		FILM NUMBER:		22801148

	BUSINESS ADDRESS:	
		STREET 1:		2801 EAST BELTLINE NE
		CITY:			GRAND RAPIDS
		STATE:			MI
		ZIP:			49525
		BUSINESS PHONE:		6163646161

	MAIL ADDRESS:	
		STREET 1:		2801 EAST BELTLINE NE
		CITY:			GRAND RAPIDS
		STATE:			MI
		ZIP:			49505

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UNIVERSAL FOREST PRODUCTS INC
		DATE OF NAME CHANGE:	19930929
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>ny20003724x1_defa14a.htm
<DESCRIPTION>DEFA14A
<TEXT>
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      <hr style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; margin-left: auto; margin-right: auto;" align="center"><font style="font-family: Arial;">UNITED STATES<br>
        SECURITIES AND EXCHANGE COMMISSION<br>
        WASHINGTON, D.C. 20549</font></div>
    <font style="font-family: Arial;">&#160;</font>
    <div style="text-align: center; color: rgb(0, 0, 0); font-size: 18pt; font-weight: bold; font-family: Arial;">&#160;SCHEDULE 14A</div>
    <font style="font-family: Arial;">&#160;</font>&#160; <font style="font-family: Arial;">&#160;</font>
    <div style="text-align: center; color: rgb(0, 0, 0); font-size: 14pt; font-weight: bold; font-family: Arial;">(RULE 14a-101)<br>
      SCHEDULE 14A INFORMATION</div>
    <font style="font-family: Arial;">&#160;</font>&#160;<font style="font-family: Arial;">&#160;</font>
    <div style="text-align: center; color: rgb(0, 0, 0); font-size: 14pt; font-weight: bold; font-family: Arial;">Proxy Statement Pursuant to Section 14(a) of the<br>
      Securities Exchange Act of 1934</div>
    <div>&#160;</div>
    <div style="color: rgb(0, 0, 0); font-family: Arial;">Filed by the Registrant &#9746;</div>
    <font style="font-family: Arial;">&#160;</font>
    <div style="color: rgb(0, 0, 0); font-family: Arial;">Filed by a Party other than the Registrant &#9744;</div>
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    <div><font style="font-family: Arial;">Check the appropriate box:</font> </div>
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          <td style="width: 2.6%; vertical-align: top; font-family: Arial;">&#9744;</td>
          <td style="width: 97.4%; vertical-align: bottom;">
            <div style="color: rgb(0, 0, 0); font-family: Arial;">Preliminary Proxy Statement</div>
          </td>
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          <td style="width: 2.6%; vertical-align: top; font-family: Arial;">&#9744;</td>
          <td style="width: 97.4%; vertical-align: bottom;">
            <div style="color: rgb(0, 0, 0); font-family: Arial;">Confidential, for Use of the Commission Only (as permitted by Rule 14a - 6(e)(2))</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2.6%; vertical-align: top; font-family: Arial;">&#9744;</td>
          <td style="width: 97.4%; vertical-align: bottom;">
            <div style="color: rgb(0, 0, 0); font-family: Arial;">Definitive Proxy Statement</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2.6%; vertical-align: top; font-family: Arial;">&#9746;</td>
          <td style="width: 97.4%; vertical-align: bottom;">
            <div style="color: rgb(0, 0, 0); font-family: Arial;">Definitive Additional Materials</div>
          </td>
        </tr>
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          <td style="width: 2.6%; vertical-align: top; font-family: Arial;">&#9744;</td>
          <td style="width: 97.4%; vertical-align: bottom;">
            <div style="color: rgb(0, 0, 0); font-family: Arial;">Soliciting Material Pursuant to &#167; 240.14a - 12</div>
          </td>
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            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; font-family: Arial;">UFP INDUSTRIES, INC.</div>
          </td>
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        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: Arial;">(Name of Registrant as Specified in its Charter)</div>
          </td>
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          <td colspan="3" style="vertical-align: top;">
            <div style="color: rgb(0, 0, 0); font-family: Arial;">Payment of Filing Fee:</div>
          </td>
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        <tr>
          <td style="width: 3%; vertical-align: top; font-family: Arial;">&#9746;</td>
          <td colspan="2" style="vertical-align: bottom;">
            <div style="color: rgb(0, 0, 0); font-family: Arial;">No fee required.</div>
          </td>
        </tr>
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          <td style="width: 3%; vertical-align: top; font-family: Arial;">&#9744;</td>
          <td colspan="2" style="vertical-align: bottom;">
            <div style="color: rgb(0, 0, 0); font-family: Arial;">Fee computed on table below per Exchange Act Rules 14-a-6(i)(1) and 0-11</div>
          </td>
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            <div style="color: rgb(0, 0, 0); font-family: Arial;">&#160;</div>
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          <td style="width: 3%; vertical-align: top;">
            <div style="text-align: justify; color: rgb(0, 0, 0); font-family: Arial;">(1)</div>
          </td>
          <td style="width: 93.5%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0); font-family: Arial;">Title of each class of securities to which transaction applies:</div>
          </td>
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            <div style="text-align: justify; color: rgb(0, 0, 0); font-family: Arial;">(2)</div>
          </td>
          <td style="width: 93.5%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0); font-family: Arial;">Aggregate number of securities to which transaction applies:</div>
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            <div style="text-align: justify; color: rgb(0, 0, 0); font-family: Arial;">(3)</div>
          </td>
          <td style="width: 93.5%; vertical-align: top;">
            <div style="text-align: justify; color: rgb(0, 0, 0); font-family: Arial;">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state
              how it was determined):</div>
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            <div style="text-align: justify; color: rgb(0, 0, 0); font-family: Arial;">(4)</div>
          </td>
          <td style="width: 93.5%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0); font-family: Arial;">Proposed maximum aggregate value of transaction:</div>
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            <div style="text-align: justify; color: rgb(0, 0, 0); font-family: Arial;">(5)</div>
          </td>
          <td style="width: 93.5%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0); font-family: Arial;">Total fee paid:</div>
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          <td colspan="2" style="vertical-align: top;">
            <div style="color: rgb(0, 0, 0); font-family: Arial;">Fee paid previously with preliminary materials.</div>
          </td>
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          <td style="width: 3%; vertical-align: top; font-family: Arial;">&#9744;</td>
          <td colspan="2" style="vertical-align: top;">
            <div style="text-align: justify; color: rgb(0, 0, 0); font-family: Arial;">Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify
              the previous filing by registration statement number, or the Form or Schedule and the date of its filing.</div>
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            <div style="text-align: justify; color: rgb(0, 0, 0); font-family: Arial;">(1)</div>
          </td>
          <td style="width: 93.5%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0); font-family: Arial;">Amount Previously Paid:</div>
          </td>
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            <div style="text-align: justify; color: rgb(0, 0, 0); font-family: Arial;">(2)</div>
          </td>
          <td style="width: 93.5%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0); font-family: Arial;">Form, Schedule, or Registration No.:</div>
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            <div style="color: rgb(0, 0, 0); font-family: Arial;">&#160;</div>
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            <div style="color: rgb(0, 0, 0); font-family: Arial;">&#160;</div>
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          <td style="width: 3%; vertical-align: top;">
            <div style="text-align: justify; color: rgb(0, 0, 0); font-family: Arial;">(3)</div>
          </td>
          <td style="width: 93.5%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0); font-family: Arial;">Filing Party:</div>
          </td>
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            <div style="color: rgb(0, 0, 0); font-family: Arial;">&#160;</div>
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            <div style="color: rgb(0, 0, 0); font-family: Arial;">&#160;</div>
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            <div style="text-align: justify; color: rgb(0, 0, 0); font-family: Arial;">(4)</div>
          </td>
          <td style="width: 93.5%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0); font-family: Arial;">Date Filed:</div>
          </td>
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            <div style="color: rgb(0, 0, 0); font-family: Arial;">&#160;</div>
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            <div style="color: rgb(0, 0, 0); font-family: Arial;">&#160;</div>
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            <div style="color: rgb(0, 0, 0); font-family: Arial;">&#160;</div>
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      <hr style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;" align="center"></div>
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    <div>
      <div style="text-align: center; font-weight: bold;">UFP INDUSTRIES, INC.</div>
      <div><br>
      </div>
      <div style="text-align: center; font-weight: bold;">Annual Meeting of Shareholders to be held on April 20, 2022</div>
      <div><br>
      </div>
      <div style="text-align: center; font-weight: bold;">Supplemental Information dated April 1, 2022</div>
      <div style="text-align: center; font-weight: bold;">Regarding the Proposal to Increase Authorized Capital Stock</div>
      <div style="text-align: center; font-weight: bold;">and the Proposal to Amend the Company&#8217;s Long-Term Stock Incentive Plan</div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 36pt;">On March 8, 2022, UFP Industries, Inc. (the &#8220;<u>Company</u>&#8221;)
        filed a proxy statement (the &#8220;<u>Proxy Statement</u>&#8221;) for its 2022 Annual Meeting of Shareholders (the &#8220;<u>Annual Meeting</u>&#8221;), to be held on Wednesday, April 20, 2022, at 8:30 a.m., local time, at the Company&#8217;s Technology and Training Building, 2880 East Beltline Lane NE, Grand Rapids, Michigan 49525.</div>
      <div><br>
      </div>
      <div style="text-align: justify;"><u>Proposal to Increase Authorized Common Stock</u></div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 36pt;">The Proxy Statement includes a proposal to amend the Company&#8217;s Articles of Incorporation to increase the number of shares of common
        stock the Company is authorized to issue from 80,000,000 shares to 250,000,000 shares.</div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 36pt;">On March 29, 2022, Institutional Shareholder Services Inc. (&#8220;<u>ISS</u>&#8221;) published a proxy analysis and vote recommendation for the Company&#8217;s Annual Meeting. The proposal to increase the Company&#8217;s authorized common stock received an unfavorable recommendation from ISS because ISS believes
        the proposed increase in the number of authorized shares of common stock is excessive and there is no specific and severe risk of non-approval. After consideration of the recommendation by ISS, the Board of Directors of the Company unanimously
        approved, subject to shareholder approval, an amendment to the first paragraph of Article III of the Company&#8217;s Articles of Incorporation (&#8220;<u>Articles</u>&#8221;) to read
        as follows:</div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">The total number of shares of all classes of stock which the Corporation shall have authority to issue is one
        hundred sixty-one million (161,000,000) shares, of which one hundred sixty million (160,000,000) shares shall be of a single class of common stock and one million (1,000,000) shares shall be series preferred stock.</div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 36pt;">This amendment would increase the Company&#8217;s authorized common stock from 80,000,000 shares to 160,000,000 shares of common stock.
        There would be no change in the number of authorized preferred shares. The purpose of the amendment is to give the Board the ability to effect a 2-for-1 stock split of the Company&#8217;s outstanding shares of common stock. As of the record date for the
        Annual Meeting, there were 62,085,149 shares of the Company&#8217;s common stock issued and outstanding.</div>
      <div><br>
      </div>
      <div style="text-align: justify;"><u>Proposal to Amend the Company&#8217;s Long-Term Stock Incentive Plan</u></div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 36pt;">The Proxy Statement also includes a proposal to amend the Company&#8217;s Long-Term Stock Incentive Plan (the &#8220;<u>Plan</u>&#8221;) to authorize an additional 2,700,000 shares of the Company&#8217;s common stock for issuance pursuant to the Plan.</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 36pt;">On March 29, 2022, ISS published a proxy analysis and vote recommendation for the Company&#8217;s Annual Meeting. The proposal to amend the
        Plan received an unfavorable recommendation from ISS because, among other things, ISS believes the estimated cost of the Plan is excessive as a result of the number of shares of the Company&#8217;s common stock available for issuance under the Plan.</div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 36pt;">It is our understanding ISS calculated the estimated cost of the Plan using, among other data, information included in the table in
        the Proxy Statement under the heading &#8220;Equity Compensation Plan Information,&#8221; which table reflected shares available for issuance pursuant to various Company plans as of December 25, 2021. As disclosed on page 21 of the Proxy Statement, as of
        February 24, 2022, there were 23,058 shares of common stock available for issuance pursuant to the Plan, and there were 2,165,141 shares of common stock subject to outstanding and unvested awards that had been made pursuant to the Plan. In
        addition, as of February 24, 2022, there were 456,019 shares of common stock reserved for future issuance pursuant to the Company&#8217;s Employee Stock Purchase Plan (ESPP), 193,196 shares of common stock reserved for future issuance pursuant to the
        Company&#8217;s Director Retainer Stock Plan (DRSP), and 13,615 shares of common stock reserved for future issuance pursuant to the Company&#8217;s Stock Gift Plan.</div>
      <div><br>
      </div>
      <div style="text-align: justify;"><u>General</u></div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 36pt;">Any vote &#8220;FOR&#8221; or &#8220;AGAINST&#8221; a proposal as described in the Proxy Statement using the proxy materials previously furnished by the
        Company (or a beneficial owner&#8217;s broker, bank, or other nominee) will continue to be counted as a vote &#8220;FOR&#8221; or &#8220;AGAINST&#8221; the proposal. If any shareholder has already returned his or her properly executed proxy card or voted via the internet or by
        telephone and would like to change his or her vote on any matter, such shareholder may revoke his or her proxy before it is voted at the Annual Meeting by submitting a later dated proxy card, by casting a subsequent vote via the Internet, or as
        otherwise described in the Proxy Statement. If your stock is held in street name, you must follow the instructions of the broker, bank, or nominee as to how to change your vote. If you would like to obtain proxy materials or have any questions, you
        should contact the Company at (800) 598-9663 or dtutas@ufpi.com.</div>
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      <div style="text-align: justify; text-indent: 36pt;">This Supplement to the Proxy Statement is being released on or about April 1, 2022, and should be read in conjunction with the Proxy
        Statement. The information contained in this Supplement to the Proxy Statement modifies or supersedes any inconsistent information contained in the Proxy Statement. The information provided above may be deemed &#8220;additional soliciting materials&#8221;
        within the meaning of the Securities Exchange Act of 1934, as amended.</div>
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      <div style="text-align: justify;">19355018</div>
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