Series U of UM Partners, LLC - Nov 7, 2024 Form 4 Insider Report for Utz Brands, Inc. (UTZ)

Role
10%+ Owner
Signature
/s/ Gene Otto, Vice President of Series U of UM Partners, LLC
Stock symbol
UTZ
Transactions as of
Nov 7, 2024
Transactions value $
$0
Form type
4
Date filed
11/12/2024, 05:00 PM
Previous filing
Jul 10, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UTZ Class A Common Stock Conversion of derivative security $0 +850K +100% $0.00 1.7M Nov 7, 2024 Direct F1, F2
transaction UTZ Class V Common Stock Other $0 -850K -1.71% $0.00 48.7M Nov 7, 2024 Direct F1, F2, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction UTZ Company Common Units Conversion of derivative security $0 -850K -1.71% $0.00 48.7M Nov 7, 2024 Class A Common Stock 850K Direct F1, F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These securities are solely owned by Series U of UM Partners, LLC, who is a member of a "group" with Series R of UM Partners, LLC for purposes of Section 13(d) of the Exchange Act.
F2 Reflects an exchange of Common Company Units together with the surrender and cancellation of the same number of Class V Common Stock for an equal number of shares of Class A Common Stock, pursuant to the Third Amended and Restated Limited Liability Company Agreement of Utz Brands Holdings, LLC (the "LLC Agreement"). Transactions are exempt from Section 16(b) in reliance on Rule 16b-6(b).
F3 These shares of Class V Common Stock of the Issuer provide no economic rights in the Issuer to the holder thereof. However, each holder of Class V Common Stock is entitled to vote as a common stockholder of the Issuer, with the number of votes equal to the number of shares of Class V Common Stock held at the time of such vote.
F4 These Common Company Units represent non-voting limited liability company interests of Utz Brands Holdings, LLC pursuant to the terms of the LLC Agreement. These units may be exchanged at the discretion of the holder for shares of Class A Common Stock on a one-for-one basis pursuant to, and subject to certain limitations set forth in, the LLC Agreement.