Cary Devore - Dec 31, 2022 Form 4 Insider Report for Utz Brands, Inc. (UTZ)

Role
EVP, Chief Op & Transform Ofc
Signature
/s/ Theresa R. Shea, as attorney-in-fact for Cary Devore
Stock symbol
UTZ
Transactions as of
Dec 31, 2022
Transactions value $
-$851,308
Form type
4
Date filed
2/2/2024, 05:32 PM
Previous filing
Jul 6, 2022
Next filing
Feb 2, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UTZ Class A Common Stock Tax liability -$385K -24.2K -6.28% $15.86 362K Dec 31, 2022 Direct F1
transaction UTZ Class A Common Stock Tax liability -$17.4K -1.07K -0.3% $16.24 361K Jan 31, 2023 Direct F2
transaction UTZ Class A Common Stock Award $13.8K +896 +0.25% $15.38 362K Jun 30, 2023 Direct F3
transaction UTZ Class A Common Stock Award $9.88K +641 +0.18% $15.42 362K Dec 29, 2023 Direct F4
transaction UTZ Class A Common Stock Tax liability -$392K -24.1K -6.65% $16.24 338K Dec 31, 2023 Direct F1
transaction UTZ Class A Common Stock Tax liability -$43.3K -2.67K -0.79% $16.24 336K Dec 31, 2023 Direct F5
transaction UTZ Class A Common Stock Award $0 +20.6K +6.15% $0.00 356K Jan 31, 2024 Direct F6, F7
transaction UTZ Class A Common Stock Award $0 +5.16K +1.45% $0.00 361K Jan 31, 2024 Direct F8
transaction UTZ Class A Common Stock Tax liability -$38.2K -2.35K -0.65% $16.24 359K Jan 31, 2024 Direct F9
transaction UTZ Class A Common Stock Award $0 +161K +44.86% $0.00 520K Jan 31, 2024 Direct F7, F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares withheld for payment of tax liability arising as a result of the settlement of a restricted stock unit award originally reported by the reporting person in a Form 4 filed with the Commission on February 1, 2022.
F2 Represents shares withheld for payment of tax liability arising as a result of the vesting of a performance stock unit award reported by the reporting person in a Form 4 filed with the Commission on February 2, 2023.
F3 The shares of Issuer's Class A Common Stock were acquired on June 30, 2023 pursuant to the Utz Brands, Inc. 2021 Employee Stock Purchase Plan (the "ESPP"). The acquisition of these shares of Class A Common Stock was exempt under Rule 16b-3(c) and Rule 16b-3(d).
F4 The shares of Issuer's Class A Common Stock were acquired on December 29, 2023 pursuant to the ESPP. The acquisition of these shares of Class A Common Stock was exempt under Rule 16b-3(c) and Rule 16b-3(d).
F5 Represents shares withheld for payment of tax liability arising as a result of the settlement of a restricted stock unit award originally reported by the reporting person in a Form 4 filed with the Commission on February 2, 2023.
F6 The restricted stock units vest under the following schedule: Subject to the terms of the restricted stock unit award agreement, 33.33% of the shares of Issuer's Class A Common Stock subject to the restricted stock units vest on December 31, 2024, 33.33% of the shares of Issuer's Class A Common Stock subject to the restricted stock units vest on December 31, 2025, and 33.34% shares of Issuer's Class A Common Stock subject to the restricted stock units vest on December 31, 2026, subject to the reporting person's Continuous Service (as defined in the Utz Brands, Inc. 2020 Omnibus Equity Incentive Plan (as amended, the "EIP") to the Company through such dates and subject to certain conditions detailed in the EIP.
F7 Each of the shares of Issuer's Class A Common Stock are subject to a restricted stock unit award under the EIP, made pursuant to Rule 16b-3. Each restricted stock unit represents a contingent right to receive one share of the Issuer's Class A Common Stock.
F8 Represents shares issued upon vesting of performance share unit awards, as approved on January 31, 2024 by the Compensation Committee of the Board of Directors of the Issuer. The acquisition of these shares of Class A Common Stock was exempt under Rule 16b-3.
F9 Represents shares withheld for payment of tax liability arising as a result of the vesting of a performance stock unit award reported by the reporting person in this Form 4.
F10 The restricted stock units vest under the following schedule: Subject to the terms of the restricted stock unit award agreement, 50% of the shares of Issuer's Class A Common Stock subject to the restricted stock units vest on December 31, 2025,and 50% of the shares of Issuer's Class A Common Stock subject to the restricted stock units vest on December 31, 2026, subject to the reporting person's Continuous Service (as defined in the EIP) to the Company through such dates and subject to certain conditions detailed in the EIP.