Form 4: Roger K. Deromedi Reports Changes in Beneficial Ownership of Utz Brands, Inc. Shares

Director Roger K. Deromedi reports transactions involving Utz Brands, Inc. Class A Common Stock, including acquisitions through equity incentive plans and holdings in various trusts.

Summary

• Roger K. Deromedi, a director of Utz Brands, Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's Class A Common Stock.
• On April 24, 2024, Deromedi acquired 270 shares under the Utz Brands, Inc. 2020 Omnibus Equity Incentive Plan, intended for the May 2022 non-employee director equity retainer.
• He also acquired 7,420 shares subject to a restricted stock unit award, which will vest on April 24, 2025, contingent upon continuous service.
• Deromedi's direct holdings after these transactions include 25,379 shares.
• Additionally, Deromedi has indirect ownership through several trusts, including the Roger K. Deromedi Irrevocable Grantor Retained Annuity Trust (1,000,000 shares), the Roger K. Deromedi Irrevocable Generation Skipping Trust (360,000 shares), the Roger K. Deromedi Irrevocable Grantor Retained Annuity Trust (650,466 shares), and the Roger K. Deromedi Revocable Trust (2,381,720 shares).

Sentiment

Score: 6

Explanation: The sentiment is neutral. This is a routine disclosure of stock transactions by a company insider. The acquisitions suggest confidence, but it's a standard part of executive compensation.

Positives

• The acquisition of shares under the equity incentive plan and restricted stock unit award demonstrates Deromedi's continued investment in Utz Brands, Inc.
• The vesting of restricted stock units is tied to continued service, aligning Deromedi's interests with the company's long-term success.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to monitor the actions of those with the most knowledge of the company's prospects.

Comparison to Industry Standards

• Comparing Deromedi's holdings and transactions to those of other directors in peer companies within the snack food industry (e.g., Hershey, Mondelez) would provide context on the scale of his investment and alignment with company performance.
• Analyzing the vesting schedules of restricted stock units granted to directors in similar companies can reveal whether Utz Brands' equity compensation practices are competitive.
• Reviewing the structure and terms of the trusts used by Deromedi against common estate planning strategies employed by high-net-worth individuals can offer insights into his long-term financial planning.

Stakeholder Impact

• The reported transactions provide transparency to shareholders regarding the director's holdings and alignment with company interests.
• Employees may view the equity grants as a positive sign of the company's commitment to its leadership.

Key Dates