Form 4: Roger K. Deromedi Reports Changes in Beneficial Ownership of Utz Brands, Inc. Stock
SEC Form 4 Filing
Director Roger K. Deromedi reports changes in beneficial ownership of Utz Brands, Inc. Class A Common Stock due to vesting of restricted stock units and transfers between 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, 2025, Deromedi acquired 9,673 shares of Class A Common Stock through the vesting of restricted stock units at a price of $0.
- These restricted stock units vest 100% on April 24, 2026, contingent upon continuous service to the company.
- The filing also reflects prior transfers of shares between various trusts controlled by Deromedi, including the Roger K. Deromedi Irrevocable Grantor Retained Annuity Trust (GRAT) u/a/d 2/22/2024, the Roger K. Deromedi Revocable Trust 2/11/2000 Amended and Restated 11/09/2011, the Grantor Retained Annuity Trust dated 11/01/2021 and the Roger K Deromedi Irrevocable Grantor Retained Annuity Trust (GRAT) u/a/d 11/19/2024.
- These transfers were exempt under Rule 16a-13.
- Following the reported transactions, Deromedi directly owns 35,052 shares of Class A Common Stock.
- He also indirectly owns 409,369 shares through the 2024 GRAT 1, 360,000 shares through the Roger K. Deromedi Irrevocable Generation Skipping Trust, 461,401 shares through the 2021 GRAT, 2,095,389 shares through the Revocable Trust, and 1,000,000 shares through the 2024 GRAT 2.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing and does not convey any particularly positive or negative sentiment.
Positives
- The vesting of restricted stock units indicates continued alignment of the director's interests with the company's performance.
Future Outlook
The restricted stock units vest on April 24, 2026, contingent upon continuous service.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| 2/11/2000 | Date of the Roger K. Deromedi Revocable Trust. |
| 11/09/2011 | Amended and Restated date of the Roger K. Deromedi Revocable Trust. |
| 10/01/2020 | Date of the Roger K. Deromedi Irrevocable Generation Skipping Trust. |
| 11/01/2021 | Date of the Grantor Retained Annuity Trust. |
| 2/22/2024 | Date of the Roger K. Deromedi Irrevocable Grantor Retained Annuity Trust (GRAT) u/a/d. |
| 11/19/2024 | Date of the Roger K Deromedi Irrevocable Grantor Retained Annuity Trust (GRAT) u/a/d. |
| 04/24/2025 | Date of transaction: Acquisition of shares through vesting of restricted stock units. |
| 04/24/2026 | Vesting date for 100% of the restricted stock units. |
| 04/28/2025 | Date of signature for the Form 4 filing. |
Keywords
beneficial ownership, Form 4, Utz Brands, Deromedi, restricted stock units, Class A Common Stock, trusts, insider trading
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