Kirk A. Jensen - May 23, 2023 Form 4 Insider Report for Sovos Brands, Inc. (SOVO)

Signature
/s/ Isobel A. Jones, Attorney-in-Fact
Stock symbol
SOVO
Transactions as of
May 23, 2023
Transactions value $
-$742,326
Form type
4
Date filed
5/24/2023, 09:40 PM
Previous filing
Mar 27, 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 -$353K -20K -5.26% $17.63 361K May 23, 2023 Direct F1, F2
transaction SOVO Common Stock Sale -$390K -21.7K -6.01% $18.00 339K May 24, 2023 Direct F2, F3
* 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 $17.50 to $17.75, 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 48,098 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 December 30,2023, September 23, 2024 or September 23, 2025, if original performance goals are not earlier achieved), 71,620 restricted shares of common stock of the Issuer subject to performance-based vesting and the Reporting Person's continued service with the Issuer, and 119,320 restricted stock units subject to time-based vesting, subject to the terms of the applicable award agreement.
F3 Represents actual sale price.