Form 4: Utz Brands Legal Officer Boosts Stake, Receives New Equity

Sentiment:

Insider Transaction Report 6 January 2026 4:50 PM

Utz Brands' EVP, Chief Legal Officer, Theresa Robbins Shea, increased her direct beneficial ownership through equity awards and an employee stock purchase plan, despite tax-related share disposals.

Summary

Theresa Robbins Shea, EVP, Chief Legal Officer of Utz Brands, Inc., reported several transactions involving Class A Common Stock.
On December 31, 2025, she acquired 702 shares at $9.86 through the Utz Brands, Inc. 2021 Employee Stock Purchase Plan.
On January 2, 2026, she disposed of a total of 5,491 shares at $10.38 to cover tax liabilities from the settlement of restricted stock unit awards from previous years (2022, 2023, 2024, 2025).
On January 5, 2026, she was granted 21,879 restricted stock units (RSUs) under the 2020 Omnibus Equity Incentive Plan, which vest in three equal tranches on December 31, 2026, December 31, 2027, and December 31, 2028.
On January 6, 2026, she acquired 21,535 shares upon the vesting of performance share unit awards.
Also on January 6, 2026, she disposed of 6,399 shares at $10.38 for tax withholding related to the vesting of performance share unit awards.
Following these transactions, her direct beneficial ownership of Class A Common Stock increased to 87,191 shares.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive. While there are disposals for tax purposes, these are offset by significant new equity grants and vesting of performance units, leading to an overall increase in the executive's beneficial ownership. This indicates continued alignment of executive interests with shareholder value and successful achievement of performance targets.

Positives

Acquisition of 702 shares through the Employee Stock Purchase Plan on December 31, 2025, indicating continued investment by an executive.
Grant of 21,879 restricted stock units on January 5, 2026, aligning executive incentives with long-term company performance.
Vesting of 21,535 performance share unit awards on January 6, 2026, demonstrating achievement of performance targets.
Overall increase in direct beneficial ownership of Class A Common Stock to 87,191 shares after all reported transactions.

Negatives

Disposal of a total of 11,890 shares across multiple dates (5,491 on January 2, 2026, and 6,399 on January 6, 2026) to cover tax liabilities, which reduces direct ownership.

Future Outlook

Industry Context

This Form 4 filing reflects routine insider equity transactions for an executive at a consumer packaged goods company. Such filings are common across industries as part of executive compensation and employee stock plans, and do not inherently indicate broader industry trends for the snack food sector.

Stakeholder Impact

Shareholders: The increase in executive beneficial ownership, particularly through new equity grants and performance-based vesting, aligns the executive's interests with long-term shareholder value. Tax-related sales are a common and expected part of equity compensation.
Employees: The Employee Stock Purchase Plan (ESPP) transaction indicates a mechanism for broader employee participation in company ownership, though this specific filing is for an executive.

Next Steps

Vesting of the granted restricted stock units will occur in three tranches on December 31, 2026, December 31, 2027, and December 31, 2028, subject to continuous service.

Key Dates

Date	Description
12/19/2022	Original reporting date of a restricted stock unit award, for which tax liability shares were withheld on 01/02/2026.
02/02/2023	Original reporting date of a restricted stock unit award, for which tax liability shares were withheld on 01/02/2026.
02/02/2024	Original reporting date of a restricted stock unit award, for which tax liability shares were withheld on 01/02/2026.
01/06/2025	Original reporting date of a restricted stock unit award, for which tax liability shares were withheld on 01/02/2026.
12/31/2025	Acquisition of 702 Class A Common Stock shares through the Employee Stock Purchase Plan.
01/02/2026	Disposal of 5,491 Class A Common Stock shares for tax liability from RSU settlements.
01/05/2026	Grant of 21,879 restricted stock units under the 2020 Omnibus Equity Incentive Plan.
01/06/2026	Acquisition of 21,535 Class A Common Stock shares upon vesting of performance share unit awards and disposal of 6,399 shares for tax liability.
12/31/2026	First vesting date for 33.33% of the 21,879 restricted stock units granted on 01/05/2026.
12/31/2027	Second vesting date for 33.33% of the 21,879 restricted stock units granted on 01/05/2026.
12/31/2028	Third vesting date for 33.34% of the 21,879 restricted stock units granted on 01/05/2026.

Recommendation

hold

This Form 4 filing details routine insider transactions for an executive, including equity grants, vesting of performance awards, and tax-related share disposals. While the executive's overall beneficial ownership increased, these transactions are standard components of executive compensation and do not provide new fundamental information about the company's operational performance, financial health, or strategic direction that would warrant a change in investment recommendation. The filing confirms ongoing executive incentive alignment but does not present a catalyst for a 'buy' or 'sell' decision based solely on this information.

Keywords

Utz Brands, UTZ, Theresa Robbins Shea, EVP Chief Legal Officer, Insider Trading, Form 4, Stock Purchase Plan, Restricted Stock Units, Performance Share Units, Equity Incentive Plan, Beneficial Ownership, Executive Compensation

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