Utz Brands (NYSE: UTZ) EVP and CCO awarded 24,962 restricted stock units
Rhea-AI Filing Summary
Stuart Jeremy K reported acquisition or exercise transactions in this Form 4 filing.
Utz Brands, Inc. reported that EVP, Sales & CCO Stuart Jeremy K received an award of 24,962 shares of Class A Common Stock on a grant basis. The shares are in the form of restricted stock units under the Utz Brands, Inc. 2020 Omnibus Equity Incentive Plan, with each unit representing a right to one share.
The restricted stock units vest in three equal annual tranches, with 33.33% scheduled to vest on December 31, 2026, 33.33% on December 31, 2027, and 33.34% on December 31, 2028, subject to continuous service and plan conditions. Following this grant, he directly holds 67,469 shares of Class A Common Stock. The company describes this as a special grant to certain senior officers to promote leadership continuity and disciplined execution of its long-term strategy.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class A Common Stock | 24,962 | $0.00 | -- |
Footnotes (1)
- The shares of Utz Brands, Inc. (the "Company" or "Issuer") Class A Common Stock are subject to a restricted stock unit award under the Utz Brands, Inc. 2020 Omnibus Equity Incentive Plan (as amended, the "Plan") made pursuant to Rule 16b-3. Each restricted stock unit represents a contingent right to receive one share of the Issuer's Class A Common Stock. The restricted stock units vest under the following schedule: Subject to the terms of the restricted stock unit award agreement, 33.33% of the shares of Issuer's Class A Common Stock subject to the restricted stock units vest on December 31, 2026, 33.33% of the shares of Issuer's Class A Common Stock subject to the restricted stock units vest on December 31, 2027, and 33.34% of the shares of Issuer's Class A Common Stock subject to the restricted stock units vest on December 31, 2028, subject to the reporting person's Continuous Service (as defined in the Plan) to the Issuer through such dates and subject to certain conditions detailed in the Plan. Represents a special grant made to certain senior officers of the Company to promote leadership continuity and disciplined execution as the Company advances its long-term strategy.