Form 4: UM Partners, LLC Series R Executes Share Exchange in Utz Brands

Series R of UM Partners, LLC exchanged Class V Common Stock and Common Company Units for Class A Common Stock in Utz Brands, Inc.

Summary

• Series R of UM Partners, LLC, a significant shareholder in Utz Brands, Inc., executed a transaction involving the exchange of securities.
• The transaction involved the exchange of 150,000 Common Company Units and 150,000 shares of Class V Common Stock for 150,000 shares of Class A Common Stock.
• This exchange was conducted on November 7, 2024, and did not involve any monetary transaction, with a price of $0 per share.
• Following the transaction, Series R of UM Partners, LLC directly owns 300,000 shares of Class A Common Stock and 8,602,350 shares of Class V Common Stock.
• The Common Company Units are non-voting interests in Utz Brands Holdings, LLC and can be exchanged for Class A Common Stock on a one-for-one basis.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction with no significant positive or negative implications. It is a standard procedure for companies with multiple share classes.

Positives

• The exchange simplifies the ownership structure for Series R of UM Partners, LLC.
• The conversion of Common Company Units to Class A Common Stock provides flexibility for the holder.

Industry Context

This transaction is a routine change in beneficial ownership and is not indicative of any broader industry trend. It is a common practice for companies with multiple classes of stock to allow for exchanges.

Comparison to Industry Standards

• Share exchanges between different classes of stock are common in companies with complex ownership structures, similar to those seen in private equity backed companies.
• The exchange of units for common stock is a standard mechanism for private equity firms to realize value in their investments.

Stakeholder Impact

• The transaction has a neutral impact on shareholders as it is an internal exchange of securities.

Key Dates

Keywords

Utz Brands, UM Partners, Class A Common Stock, Class V Common Stock, Common Company Units, Share Exchange, Beneficial Ownership, SEC Form 4