Form 4: CC Collier Holdings Sells UTZ Brands Shares in Multiple Transactions

CC Collier Holdings, a 10% owner of Utz Brands, Inc., sold a significant number of shares in multiple transactions on March 13 and 14, 2024.

Summary

• CC Collier Holdings, LLC, a 10% owner of Utz Brands, Inc. (UTZ), reported the sale of common stock on March 13 and 14, 2024.
• On March 13, 2024, 92,226 shares were sold at a weighted average price of $17.80, with prices ranging from $17.55 to $18.32.
• On March 14, 2024, an additional 244,712 shares were sold at a weighted average price of $18.14, with prices ranging from $17.89 to $18.44.
• Following these transactions, CC Collier Holdings directly holds 3,311,442 shares of Utz Brands common stock.
• Chinh E. Chu holds voting and dispositive power over the securities held by the reporting person and has separately reported his beneficial ownership.

Sentiment

Score: 4

Explanation: The sentiment is slightly negative due to the sale of shares by a major shareholder, which could indicate a lack of confidence or a strategic shift. However, without further context, it's difficult to assess the full impact.

Negatives

• CC Collier Holdings, a significant shareholder, is reducing its stake in Utz Brands.

Risks

• Further sales by CC Collier Holdings could put downward pressure on the stock price.
• The reason for the sale is not disclosed, which could create uncertainty among investors.

Industry Context

Sales by significant shareholders are common and can be for a variety of reasons, including portfolio diversification or personal financial needs. However, they can sometimes be interpreted negatively by the market if the reasons are unclear.

Stakeholder Impact

• Shareholders may react to the news of the share sale, potentially impacting the stock price.
• Employees may experience uncertainty if the reason for the sale is perceived negatively.

Key Dates