Utz Brands (NYSE: UTZ) awards 23,333 RSUs to Chief Legal Officer
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Shea Theresa Robbins reported acquisition or exercise transactions in this Form 4 filing.
Utz Brands, Inc. granted EVP and Chief Legal Officer Theresa Robbins Shea an award of 23,333 restricted stock units of Class A Common Stock as equity compensation. Each unit represents a contingent right to one share.
The award vests in three tranches: 33.33% on December 31, 2026, 33.33% on December 31, 2027, and 33.34% on December 31, 2028, subject to continued service and plan conditions. Following this grant, she holds 110,524 shares directly. The grant is described as a special award to certain senior officers to promote leadership continuity and disciplined execution of the company’s long-term strategy.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Shea Theresa Robbins
Role
EVP, Chief Legal Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class A Common Stock | 23,333 | $0.00 | -- |
Holdings After Transaction:
Class A Common Stock — 110,524 shares (Direct)
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.
FAQ
What insider transaction did Utz Brands (UTZ) report for Theresa Robbins Shea?
Utz Brands reported a grant of 23,333 restricted stock units of Class A Common Stock to EVP and Chief Legal Officer Theresa Robbins Shea. This equity award increases her direct holdings to 110,524 shares, aligning her compensation more closely with long-term shareholder interests and company performance.
How do the new restricted stock units for Utz Brands (UTZ) CLO vest?
The 23,333 restricted stock units vest in three equal-time installments. 33.33% vest on December 31, 2026, another 33.33% on December 31, 2027, and the remaining 33.34% on December 31, 2028, contingent on continuous service and conditions under the 2020 Omnibus Equity Incentive Plan.
What is the nature of the equity award reported by Utz Brands (UTZ)?
The filing describes a special grant of restricted stock units to certain senior officers, including the Chief Legal Officer. Each unit represents a contingent right to receive one share of Class A Common Stock, granted at no cash cost, under Utz Brands’ 2020 Omnibus Equity Incentive Plan framework.
Why did Utz Brands (UTZ) provide this special restricted stock grant?
The company states the special restricted stock unit grant is intended to promote leadership continuity and disciplined execution as Utz Brands advances its long-term strategy. By granting equity-based awards, the company further links senior officer incentives to long-term corporate objectives and shareholder value creation.
What does the Utz Brands (UTZ) Form 4 reveal about Theresa Robbins Shea’s ownership?
After the reported grant of 23,333 restricted stock units, Theresa Robbins Shea’s direct beneficial ownership stands at 110,524 shares of Class A Common Stock. The reported holding figure reflects her position following this compensation-related equity award and excludes any additional unreported future grants or transactions.