UFP Technologies, Inc.  (Nasdaq: UFPT) is a  producer of innovative  custom-engineered  components, products,  and specialty packaging. Using foams, plastics, composites, and  natural fiber materials, we design and  manufacture a vast range of solutions  primarily for the medical, automotive,  aerospace and defense, electronics,  consumer and industrial markets. Our  team acts as an extension of customers’  in-house research, engineering, and  manufacturing groups, working closely  with them to solve their most complex  product and packaging challenges.  Learn more about us at www.ufpt.com. 2014 AnnUAL  RepORt COntents CeO’s Letter 2 selected Financial Data 8  Management’s Discussion and  Analysis of Financial Condition  and Results of Operations 9 Financial statements 17 stockholder Information 36