Special Utz Brands (UTZ) RSU grant to principal accounting officer
Rhea-AI Filing Summary
Tewey Ryan Patrick reported acquisition or exercise transactions in this Form 4 filing.
Utz Brands, Inc. reported that Principal Accounting Officer Ryan Patrick Tewey received a grant of 4,296 shares of Class A Common Stock at no cash cost, structured as restricted stock units under the company’s 2020 Omnibus Equity Incentive Plan.
Each unit represents the right to receive one share of Class A Common Stock. The units vest in three annual installments: 33.33% on December 31, 2026, 33.33% on December 31, 2027, and 33.34% on December 31, 2028, subject to his continued service and other plan conditions. Following this award, he directly holds 20,854 shares. The grant is described as a special award to certain senior officers to support leadership continuity and disciplined execution of the company’s long-term strategy.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class A Common Stock | 4,296 | $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.