Executive Arends granted 26,013 RSUs at Utz Brands (UTZ) in special award
Rhea-AI Filing Summary
Utz Brands, Inc. reported that EVP Chief Integrated Supply Chain Mitchell Andrew Arends received a grant of 26,013 shares of Class A Common Stock as a restricted stock unit award under the company’s 2020 Omnibus Equity Incentive Plan. This is a compensation-related acquisition, not an open-market purchase, and leaves him with 101,712 shares held directly after the award.
Each restricted stock unit represents the right to receive one share of Class A Common Stock. The units vest in three equal annual tranches: 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. 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 | 26,013 | $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.