Howard A. Friedman - Dec 31, 2023 Form 4 Insider Report for Utz Brands, Inc. (UTZ)

Role
CEO, Director
Signature
/s/ Theresa R. Shea, as attorney-in-fact for Howard A. Friedman
Stock symbol
UTZ
Transactions as of
Dec 31, 2023
Transactions value $
-$406,487
Form type
4
Date filed
2/2/2024, 08:59 PM
Previous filing
Nov 14, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UTZ Class A Common Stock Tax liability -$139K -8.54K -4.62% $16.24 176K Dec 31, 2023 Direct F1
transaction UTZ Class A Common Stock Tax liability -$268K -16.5K -9.35% $16.24 160K Dec 31, 2023 Direct F2
transaction UTZ Class A Common Stock Award $0 +63.4K +39.66% $0.00 223K Jan 31, 2024 Direct F3, F4
* 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 2, 2023.
F2 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 December 19, 2022.
F3 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 (the "EIP")) to the Company through such dates and subject to certain conditions detailed in the EIP.
F4 Each of the shares of Issuer's Class A Common Stock are subject to a restricted stock unit award under the EIP. Each restricted stock unit represents a contingent right to receive one share of the Issuer's Class A Common Stock.

Remarks:

See Power of Attorney attached hereto as Exhibit 24.1.