Company: UTZ
Filing Date: 2025-03-13
Form Type: DEF 14A
Source: 0000950170-25-038342
Chunk: 27

Company: Utz Brands, Inc.
Filing Date: 2025-03-13
Form: DEF 14A
Chunk 27
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 staggered three-year terms.

Pursuant to the Investor Rights Agreement, subject to certain step-down provisions, the Company, the Founder Holders and the Continuing Members will take all Necessary Action to include in the slate of nominees recommended by the Board for election as directors at each annual or special meeting of stockholders at which directors are to be elected a certain number of Continuing Member Nominees recommended by the Continuing Members and Sponsor Nominees recommended by the Sponsor Representative. As of the date of this Proxy Statement, the Continuing Members are entitled to designate five Continuing Member Nominees and the Sponsor Representative is entitled to designate four Sponsor Nominees under the Investor Rights Agreement. In addition, at such time as a chief executive officer that is not an affiliate of either the Continuing Members or the Founder Holders (an “Outside CEO”) is elected by our Board of Directors such Outside CEO will be elected to our Board of Directors, subject to the terms of the Investor Rights Agreement.

At each annual meeting of our stockholders, a class of directors will be elected for a three-year term to succeed the same class whose term is then expiring, as follows:

The Class I directors are John Altmeyer, Howard Friedman, Jason Giordano, and B. John Lindeman;

The Class II directors are Antonio Fernandez, Craig Steeneck, Pamela Stewart, and William Werzyn Jr.; and

The Class III directors are Timothy Brown, Christina Choi, Roger Deromedi, and Dylan Lissette.

Each director’s term will continue until the election and qualification of his or her successor, or his or her earlier death, resignation, or removal. Any increase or decrease in the number of directors will be distributed among the three classes so that, as nearly as possible, each class will consist of one-third of the total number of directors.

Each of our officers serves at the discretion of our Board and will hold office until his or her successor is duly appointed and qualified or until his or her earlier resignation or removal. There are no family relationships among any of our directors or officers.

Meetings of the Board.Our Corporate Governance Guidelines provide that directors should make every effort to attend all meetings of the Board, meetings of the committees of which they are members, and the annual meeting of stockholders, and be prepared to participate in discussions of issues presented. In 2024, our Board met seven times and each of the incumbent directors then serving on our Board attended at least 75% of the meetings held by the Board, with an aggregate attendance rate