Robert Chisholm Weber - Jan 17, 2023 Form 4 Insider Report for Hostess Brands, Inc. (TWNK)

Signature
/s/ Jolyn J. Sebree, Attorney-in-Fact
Stock symbol
TWNK
Transactions as of
Jan 17, 2023
Transactions value $
-$226,918
Form type
4
Date filed
1/19/2023, 05:04 PM
Previous filing
Nov 30, 2022
Next filing
Jan 26, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TWNK Restricted Stock Units Award $0 +8.74K $0.00 8.74K Jan 17, 2023 Direct F1
transaction TWNK Class A Common Stock, par value $0.0001 per share Award $0 +17.1K +319.99% $0.00 22.5K Jan 17, 2023 Direct F2
transaction TWNK Class A Common Stock, par value $0.0001 per share Tax liability -$177K -7.69K -34.17% $22.99 14.8K Jan 19, 2023 Direct F3
transaction TWNK Class A Common Stock, par value $0.0001 per share Tax liability -$50.2K -2.19K -11.39% $22.93 17K Jan 19, 2023 Direct F4
holding TWNK Restricted Stock Units 13.7K Jan 17, 2023 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Consists of a grant of restricted stock units. Each restricted stock unit represents the right to receive, upon vesting, one share of Class A common stock. These restricted stock units will vest in equal or nearly equal installments on January 17 of each 2024, 2025, and 2026, assuming continued employment through the applicable vesting date.
F2 Represents shares acquired by the reporting person upon the achievement of performance measures under performance share units ("PSUs") granted under the Amended and Restated Hostess Brands, Inc. 2016 Equity Incentive Plan.
F3 On January 19, 2023, Hostess Brands, Inc. (the "Company") withheld 7,687 shares of Class A common stock to satisfy withholding taxes due in connection with the vesting of the PSUs referred to above. Such shares had a market value of $22.99 per share, the closing price of the Class A common stock on January 17, 2023, the date the Company's Talent & Compensation Committee certified the performance results.
F4 On January 19, 2023, the Company withheld 2,189 shares of Class A Common Stock to satisfy withholding taxes due in connection with the vesting of shares of Class A common stock underlying two awards of restricted stock units previously granted to the reporting person. Such shares had a market value of $22.93 per share, the closing price of the Class A common stock on January 13, 2023, the last trading date prior to vesting.
F5 Consists of previously disclosed restricted stock units that remained subject to time-based vesting criteria.

Remarks:

Senior Vice President, Chief People Officer