Jason K. Giordano - 07 Aug 2025 Form 4 Insider Report for Utz Brands, Inc. (UTZ)

Role
Director
Signature
/s/ Theresa R. Shea, as attorney-in-fact for Jason K. Giordano
Issuer symbol
UTZ
Transactions as of
07 Aug 2025
Net transactions value
+$22,080,000
Form type
4
Filing time
11 Aug 2025, 17:30:36 UTC
Previous filing
25 Apr 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Giordano Jason K Director C/O UTZ BRANDS, INC., 900 HIGH STREET, HANOVER /s/ Theresa R. Shea, as attorney-in-fact for Jason K. Giordano 11 Aug 2025 0001458039

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UTZ Class A Common Stock Options Exercise $22,080,000 +1,920,000 +55% $11.50 5,393,556 07 Aug 2025 Direct F1, F2
transaction UTZ Class A Common Stock Tax liability -1,570,190 -29% 3,823,366 07 Aug 2025 Direct F2, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction UTZ Warrants to purchase Class A Common Stock Options Exercise -1,920,000 -100% 0 07 Aug 2025 Class A Common Stock 1,920,000 $11.50 Direct F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects the exercise of 1,920,000 warrants to purchase shares of Class A common stock of Utz Brands, Inc. ("Issuer") on a cashless basis pursuant to the Warrant Agreement, dated as of October 4, 2018 (the "Warrant Agreement"), by and between Collier Creek Holdings ("Collier Creek") and Continental Stock Transfer & Trust Company ("CST"), as assumed by the Issuer pursuant to that certain Assignment and Assumption Agreement, dated as of February 22, 2022, by and among the Issuer, CST, Equinity Trust Company ("Equinity") and the Consenting Holders (as defined therein). The number of shares of Class A common stock issuable upon exercise of the warrants was determined in accordance with section 3.3.1(c) of the Warrant Agreement.
F2 These securities include shares of Class A Common Stock that are held by Jason K. Giordano together with his spouse.
F3 Reflects the shares of Class A common stock "withheld" in connection with the cashless exercise. Pursuant to Section 3.3.1(c) of the Warrant Agreement, the price was calculated as the average last reported sale price of the shares for the ten trading days ending on the third trading day prior to the date on which notice of exercise of the private placement warrant was sent to the warrant agent.
F4 The warrants are exercisable at any time and expire on August 28, 2025 or earlier upon redemption or the liquidation of the Issuer.