Form 4: CC Collier executes 2.88M UTZ warrants, 2.36M shares withheld

Rhea-AI Filing Summary

CC Collier Holdings, LLC reported transactions in Utz Brands, Inc. (UTZ) showing an insider exercise of warrants on 08/07/2025. The filing states CC Collier exercised 2,880,000 warrants to purchase Class A common stock on a cashless basis under the Warrant Agreement, with the number of shares determined by the agreement's formula.

As part of the cashless exercise, 2,355,284 shares were withheld and 524,716 shares remain beneficially owned following the transaction. The reporting parties note that Chinh E. Chu holds voting and dispositive power over the securities held by CC Collier.

Insights

Securities Analyst

TL;DR: Insider cashless exercise reduced outstanding warrants and left the reporting entity with 524,716 Class A shares.

The report documents a cashless exercise of 2,880,000 warrants, with 2,355,284 shares withheld to satisfy exercise consideration, leaving 524,716 shares held directly. The transaction eliminated the reported derivative exposure tied to those warrants, consistent with the stated warrant terms and exercise mechanics. For investors, this is a routine insider liquidity event that changes shareholder composition modestly but does not itself disclose company operational changes.

Corporate Governance Expert

TL;DR: Disclosure is clear on control and exercise mechanics; Chinh E. Chu retains control over CC Collier's holdings.

The Form 4 clarifies beneficial ownership and control: Chinh E. Chu holds voting and dispositive power over CC Collier's securities. The filing explains the cashless exercise and share withholding per the Warrant Agreement, documenting transparent compliance with Section 16 reporting. This is a governance-relevant filing showing insider action and continued centralized voting authority, but it does not indicate any change in board composition or governance structure.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

CC Collier Holdings, LLC

(Last) (First) (Middle)

200 PARK AVENUE, 58TH FLOOR

(Street)

NEW YORK NY 10166

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Utz Brands, Inc. [ UTZ ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			See Remarks

3. Date of Earliest Transaction (Month/Day/Year)
08/07/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	08/07/2025		M(2)		2,880,000	A	(2)	2,880,000	D(1)
Class A Common Stock	08/07/2025		F(3)		2,355,284	D	(3)	524,716	D(1)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Warrants to purchase Class A Common Stock	$11.5	08/07/2025		M(2)			2,880,000	09/27/2020	08/28/2025	Class A Common Stock	2,880,000	(2)	0	D(1)

1. Name and Address of Reporting Person^*

CC Collier Holdings, LLC

(Last) (First) (Middle)

200 PARK AVENUE, 58TH FLOOR

(Street)

NEW YORK NY 10166

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			See Remarks

1. Name and Address of Reporting Person^*

Chu Chinh

(Last) (First) (Middle)

200 PARK AVENUE, 58TH FLOOR

(Street)

NEW YORK NY 10166

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			See Remarks

Explanation of Responses:

1. The securities reported on this report are held directly by CC Collier Holdings, LLC ("CC Collier"). Chinh E. Chu holds voting and dispositive power over the securities held by CC Collier.

2. Reflects the exercise of 2,880,000 warrants to purchase shares of Class A Common Stock of Utz Brands, Inc. (the "Issuer") on a cashless basis pursuant to the Warrant Agreement, dated as of October 4, 2018 (the "Warrant Agreement"), by and between Collier Creek Holdings and Continental Stock Transfer & Trust Company as assumed by the Issuer pursuant to that certain Assignment and Assumption Agreement, dated as of February 22, 2022, by and among the Issuer, Continental Stock Transfer & Trust Company, Equiniti Trust Company and the warrant holders named therein. The number of shares of Class A Common Stock issuable upon exercise of the warrants was determined in accordance with section 3.3.1(c) of the Warrant Agreement.

3. Reflects the shares of Class A Common Stock "withheld" in connection with the cashless exercise. Pursuant to Section 3.3.1(c) of the Warrant Agreement, the price was calculated as the average last sale price of the shares for the ten trading days ending on the third trading day prior to the date on which notice of exercise of the warrants was sent to the warrant agent.

Remarks:

Jason K. Giordano is a Senior Managing Director of CC Capital. Therefore, the Reporting Persons may be considered directors by deputization.

	/s/ Chinh Chu as Authorized Signatory for CC Collier Holdings, LLC	08/11/2025
	/s/ Chinh Chu	08/11/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did the UTZ Form 4 filed for CC Collier report?

The filing reports a cashless exercise of 2,880,000 warrants into Class A common stock on 08/07/2025, with share withholding of 2,355,284 and 524,716 shares held following the transaction.

Who holds voting and dispositive power over the shares reported in the UTZ Form 4?

Chinh E. Chu is identified as holding voting and dispositive power over the securities held by CC Collier Holdings, LLC.

How many warrants remained after the reported transaction?

The Form 4 indicates that the reported warrants were exercised and shows 0 derivative warrants beneficially owned following the transaction for the reported securities.

How many shares were withheld to satisfy the cashless exercise in the UTZ filing?

The filing states that 2,355,284 shares were withheld in connection with the cashless exercise.

What transaction date is reported on the UTZ Form 4?

The transaction date reported in the Form 4 is 08/07/2025.