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.
Positive
- None.
Negative
- None.
Insights
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.
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.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Warrants to purchase Class A Common Stock | 2,880,000 | $0.00 | -- |
| Exercise | Class A Common Stock | 2,880,000 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 2,355,284 | $0.00 | -- |
Footnotes (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. 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. 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.
