Utz Brands, Inc. — Director's Dealing 2020

Sep 2, 2020

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: Utz Brands, Inc. (UTZ)
CIK: 0001739566
Period of Report: 2020-08-28

Reporting Person: Series U of UM Partners, LLC (10% Owner)
Reporting Person: Series R of UM Partners, LLC (10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Class V Common Stock	52061650	Direct
Class V Common Stock	9187350	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Common Company Units	$		Class A Common Stock (52061650)		Direct
Common Company Units	$		Class A Common Stock (9187350)		Direct

Footnotes

F1: These securities are solely owned by Series U of UM Partners, LLC, who is a member of a "group" with Series R of UM Partners, LLC for purposes of Section 13(d) of the Exchange Act.

F2: These securities are solely owned by Series R of UM Partners, LLC, who is a member of a "group" with Series U of UM Partners, LLC for purposes of Section 13(d) of the Exchange Act.

F3: These shares of Class V Common Stock of the Issuer provide no economic rights in the Issuer to the holder thereof. However, each holder of Class V Common Stock will be entitled to vote as a common stockholder of the Issuer, with the number of votes equal to the number of shares of Class V Common Stock held at the time of such vote.

F4: These securities were acquired pursuant to the Business Combination Agreement dated June 5, 2020, by and among Collier Creek Holdings ("Collier Creek"), Utz Brands Holdings, LLC ("Utz"), and the Reporting Persons pursuant to which, among other things, the Reporting Persons will retain, in the aggregate 61,249,000 Common Company Units. Series U will hold 52,061,650 Common Company Units and Series R will hold 9,187,350 Common Company Units.

F5: These Common Company Units represent non-voting limited liability company interest of Utz pursuant to the terms of the Third Amended and Restated Limited Liability Company Agreement of Utz (the "LLC Agreement"). Beginning on the earlier of August 28, 2021 or such earlier time as the lock-up period set forth in an agreement between the Issuer and the Reporting Persons ends, these units may be exchanged at the discretion of the holder for shares of Class A Common Stock on a one-for-one basis pursuant to certain limitations set forth in the LLC Agreement.