Todd R. Lachman - Aug 25, 2022 Form 4 Insider Report for Sovos Brands, Inc. (SOVO)

Signature
/s/ James Potter, Attorney-in-Fact
Stock symbol
SOVO
Transactions as of
Aug 25, 2022
Transactions value $
-$187,500
Form type
4
Date filed
8/26/2022, 05:51 PM
Previous filing
Jan 18, 2022
Next filing
Sep 6, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SOVO Common Stock Sale -$150K -10K -0.39% $15.00 2.54M Aug 25, 2022 Direct F1, F2, F3
transaction SOVO Common Stock Sale -$37.5K -2.5K -0.52% $15.00 475K Aug 25, 2022 By trust F1, F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on 6/08/2022. The Rule 10b5-1 trading plan, which was structured to include several sale periods, was established as part of the Reporting Person's long-term strategy for asset diversification and financial, retirement, estate and tax planning activities over a period of time.
F2 Represents actual sale price.
F3 Includes 3,595 restricted shares of common stock of the Issuer subject to time-based vesting and the Reporting Person's continued service with the Issuer, 741,460 restricted shares of common stock of the Issuer subject to performance-based vesting and the Reporting Person's continued service with the Issuer (a portion of which will vest on the last day of fiscal 2022 or the last day of fiscal 2023, if such performance goals are not earlier achieved), 356,039 restricted stock units subject to time-based vesting, and 394,059 restricted stock units subject to performance-based vesting, in each case, subject to the terms of the applicable award agreement.
F4 Includes 899 restricted shares of common stock of the Issuer subject to time-based vesting and 185,365 restricted shares of common stock of the Issuer subject to performance-based vesting, in each case, subject to the Reporting Person's continued service with the Issuer and the terms of the applicable award agreement.