Todd R. Lachman - Feb 14, 2024 Form 4 Insider Report for Sovos Brands, Inc. (SOVO)

Signature
/s/ Isobel A. Jones, Attorney-in-Fact
Stock symbol
SOVO
Transactions as of
Feb 14, 2024
Transactions value $
-$295,088
Form type
4
Date filed
2/14/2024, 06:12 PM
Previous filing
Jan 18, 2024
Next filing
Mar 14, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SOVO Common Stock Sale -$295K -13.3K -0.67% $22.26 1.96M Feb 12, 2024 Direct F1, F2
holding SOVO Common Stock 335K Feb 14, 2024 By trust 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 $22.22 to $22.275, 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 269,615 restricted shares of common stock of the Issuer subject to time-based vesting (a portion of which vest on September 23, 2024 or September 23, 2025, if the original performance goals are not earlier achieved), 369,777 restricted shares of common stock of the Issuer subject to performance-based vesting, and 568,079 restricted stock units subject to time-based vesting (a portion of which will vest on September 23, 2024 or September 23, 2025, if original performance criteria is not earlier achieved), subject in each case to the Reporting Person's continued service with the Issuer and the terms of the applicable award agreement.
F3 Includes 67,403 restricted shares of common stock of the Issuer subject to time-based vesting (a portion of which will vest on September 23, 2024 or September 23, 2025, if the original performance goals are not earlier achieved) and 64,445 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.