Lisa Y. O'Driscoll - May 23, 2023 Form 4 Insider Report for Sovos Brands, Inc. (SOVO)

Role: CHIEF ADMINISTRATIVE OFFICER
Signature: /s/ Isobel A. Jones, Attorney-in-Fact
Stock symbol: SOVO
Transactions as of: May 23, 2023
Transactions value $: -$664,183
Form type: 4
Date filed: 5/24/2023, 09:38 PM
Previous filing: Feb 14, 2023
Next filing: Jan 18, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SOVO	Common Stock	Sale	-$664K	-38.1K	-16.82%	$17.42	188K	May 23, 2023	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $17.40 to $17.54, inclusive. The Reporting Person undertakes to provide to the Issuer, any stockholder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
F2	Includes 36,123 restricted shares of common stock of the Issuer subject to time-based vesting and the Reporting Person's continued service with the Issuer (a portion of which will vest on September 23, 2024 or September 23, 2025), 91,771 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 2023, if such performance goals are not earlier achieved), and 56,700 restricted stock units subject to time-based vesting, subject to the terms of the applicable award agreement.

Content

The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $17.40 to $17.54, inclusive. The Reporting Person undertakes to provide to the Issuer, any stockholder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

Includes 36,123 restricted shares of common stock of the Issuer subject to time-based vesting and the Reporting Person's continued service with the Issuer (a portion of which will vest on September 23, 2024 or September 23, 2025), 91,771 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 2023, if such performance goals are not earlier achieved), and 56,700 restricted stock units subject to time-based vesting, subject to the terms of the applicable award agreement.