Utz Brands, Inc. — Director's Dealing 2024

Feb 3, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Utz Brands, Inc. (UTZ)
CIK: 0001739566
Period of Report: 2022-12-31

Reporting Person: Redcay Shannan (EVP, Manufacturing)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-12-31	Class A Common Stock	F	257	$15.86	Disposed	30490	Direct
2023-01-31	Class A Common Stock	F	150	$15.86	Disposed	30340	Direct
2023-12-31	Class A Common Stock	F	900	$16.24	Disposed	29440	Direct
2023-12-31	Class A Common Stock	F	258	$16.24	Disposed	29182	Direct
2023-12-31	Class A Common Stock	F	1578	$16.24	Disposed	27604	Direct
2024-01-31	Class A Common Stock	A	10776	—	Acquired	38380	Direct
2024-01-31	Class A Common Stock	A	633	—	Acquired	39013	Direct
2024-01-31	Class A Common Stock	F	214	$16.24	Disposed	38799	Direct

Footnotes

F1: Represents shares withheld for payment of tax liability arising as a result of the settlement of a restricted stock unit award originally reported by the reporting person in a Form 3 filed with the Commission on June 21, 2022.

F2: Represents shares withheld for payment of tax liability arising as a result of the vesting of a performance stock unit award reported by the reporting person in a Form 4 filed with the Commission on February 2, 2023.

F3: Represents shares withheld for payment of tax liability arising as a result of the settlement of a restricted stock unit award originally reported by the reporting person in a Form 4 filed with the Commission on February 2, 2023.

F4: Represents shares withheld for payment of tax liability arising as a result of the settlement of a restricted stock unit award originally reported by the reporting person in a Form 3 filed with the Commission on June 22, 2022.

F5: Represents shares withheld for payment of tax liability arising as a result of the settlement of a restricted stock unit award originally reported by the reporting person in a Form 3 filed with the Commission on December 19, 2022.

F6: 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, 2024, 33.33% of the shares of Issuer's Class A Common Stock subject to the restricted stock units vest on December 31, 2025, and 33.34% shares of Issuer's Class A Common Stock subject to the restricted stock units vest on December 31, 2026, subject to the reporting person's Continuous Service (as defined in the Plan) to the Company through such dates and subject to certain conditions detailed in the Utz Brands, Inc. 2020 Omnibus Equity Incentive Plan (the "EIP").

F7: Each of the shares of Issuer's Class A Common Stock are subject to a restricted stock unit award under the EIP, 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.

F8: Represents shares issued upon vesting of performance share unit awards, as approved on January 31, 2024 by the Compensation Committee of the Board of Directors of the Issuer. The acquisition of these shares of Class A Common Stock was exempt under Rule 16b-3.

F9: Represents shares withheld for payment of tax liability arising as a result of the vesting of a performance stock unit award reported by the reporting person in this Form 4.