Company: UTZ
Filing Date: 2025-03-13
Form Type: DEF 14A
Source: 0000950170-25-038342
Chunk: 38

Company: Utz Brands, Inc.
Filing Date: 2025-03-13
Form: DEF 14A
Chunk 38
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 executive officers with the long-term interests of our stockholders and to provide a total compensation opportunity that allows us to attract and retain talented executive officers and motivate them to achieve exceptional business results. We achieve these goals by offering a total compensation program that consists of both fixed components (in the form of base pay and benefits) and variable, performance-based pay (in the form of short and long-term incentives) designed to reward performance. The total target compensation for our executive officers is weighted more heavily toward incentive compensation, in the form of an annual bonus program, restricted stock units (“RSUs”), and performance stock units (“PSUs”). Our compensation program is designed to achieve an appropriate balance of short-term and long-term incentives to encourage executive officers to properly balance the need for consistent annual performance with the need for consistent performance over a multiple-year horizon. This compensation balance is designed so that our executive officers share in both downside risk and upside opportunity based on our performance. The following discussion describes and analyzes our compensation program for our named executive officers. Our named executive officers are our Chief Executive Officer who serves as our principal executive officer, our Chief Financial and Accounting Officer who serves as our principal financial officer, and the three other most highly compensated persons serving as executive officers as of the last day of our most recent fiscal year, which ended December 29, 2024 (the “named executive officers”). Such individuals and the positions they held as of December 29, 2024 are as follows: ▪ Howard Friedman, Chief Executive Officer ▪ Ajay Kataria, Executive Vice President, Chief Financial and Accounting Officer ▪ Cary Devore, Head of Capital Markets and M&A, former Executive Vice President, Chief Operating and Transformation Officer (1)

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EXECUTIVE AND DIRECTOR COMPENSATION § COMPENSATION DISCUSSION AND ANALYSIS ▪ Mark Schreiber, Executive Vice President, Sales and Chief Customer Officer ▪ Mitchell Arends, Executive Vice President, Chief Integrated Supply Chain Officer (1) As previously disclosed on January 7, 2025 and effective January 6, 2025, Mr. Devore assumed the newly created role as the Company’s Head of Capital Markets and M&A and the Company consolidated the Transformation Office and the Integrated Business Planning under Mr. Arends. In connection with this change, Mr. Devore’s annual base salary was decreased to $100,000 and Mr. Devore will be eligible for a short term incentive bonus program tied to specific M&A outcomes. Our Compensation Committee engaged an