Form 4: Utz Brands Director Craig D. Steeneck Reports Changes in Beneficial Ownership

Craig D. Steeneck, a director at Utz Brands, Inc., reports the acquisition of Class A Common Stock through the company's equity incentive plan.

Summary

• On April 24, 2024, Craig D. Steeneck, a director of Utz Brands, Inc., reported changes in his beneficial ownership of the company's Class A Common Stock.
• He acquired 270 shares as part of the May 2022 non-employee director equity retainer under the Utz Brands, Inc. 2020 Omnibus Equity Incentive Plan.
• Additionally, he acquired 7,420 shares subject to a restricted stock unit award under the same plan.
• These restricted stock units vest on April 24, 2025, contingent upon his continued service to the company.
• Following these transactions, Steeneck directly owns 285,400 shares of Class A Common Stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The filing reflects standard equity compensation practices, indicating alignment between management and shareholder interests. There are no red flags or negative indicators.

Positives

• The acquisition of shares by a director demonstrates confidence in the company's future.
• The vesting schedule of the restricted stock units incentivizes continued service and commitment from the director.

Future Outlook

The restricted stock units vest on April 24, 2025, subject to the reporting person's continuous service to the Company through such date and subject to certain conditions detailed in the Plan.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.

Stakeholder Impact

• The transactions reported do not have a significant impact on stakeholders.

Key Dates