Company: UTZ
Filing Date: 2025-03-13
Form Type: DEF 14A
Source: 0000950170-25-038342
Chunk: 34

Company: Utz Brands, Inc.
Filing Date: 2025-03-13
Form: DEF 14A
Chunk 34
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 limitation:

Role and responsibility of the Board;

Independence of directors;

Director qualification standards;

Director orientation and continuing education;

Conduct of Board meetings;

Committees of the Board;

Expectations of directors;

Limitations on other board service;

Management succession planning;

Evaluation of Board performance; and

Communications with stockholders and communications with non-management directors.

A copy of the Corporate Governance Guidelines is available on our investor website athttp://investors.utzsnacks.com/investorsunder the heading “Governance — Governance Documents.”

Risk Management.Utz’s management is responsible for the day-to-day risk management of the Company, subject to oversight by the Board and its committees with regard to the major risks inherent in our business, including strategic, regulatory, compliance, operational, financial, reputational and cybersecurity risks, and the efforts of management to address and mitigate such risks.

Our Board receives regular reports concerning our risk assessment and risk management from the Audit Committee, which meets periodically with our independent auditors, with our legal counsel and with management, to discuss the Company’s major risk exposures and the steps that management has taken to monitor and control such exposures. In addition to receiving regular reports from the Audit Committee related to financial risks, the Board also reviews information regarding other risks (including, without limitation, cybersecurity risks as further discussed in Item 1C of our annual report on Form 10-K for the fiscal year ended December 29, 2024) through regular reports of its other committees, including information regarding compensation-related risk from the Compensation Committee and governance-related risk from the Nominating and Corporate Governance Committee. In 2020, the Board adopted a clawback and forfeiture policy which was amended effective October 2023 (the “Clawback Policy”), which, among other things, enables the Board, through the Compensation Committee, to enhance the Company’s risk management by providing for the recoupment or forfeiture of certain incentive-based compensation in the event of financial misstatements or other egregious misconduct by executives that had a detrimental effect on the Company. A copy of our Clawback Policy is filed as an exhibit to our annual report on Form 10-K for the fiscal year ended December 29, 2024.

We believe the division of risk management responsibilities described above is an effective approach for addressing the risks that we face.

Executive Sessions of Non-Management Directors.In accordance with our Corporate Governance Guidelines, our non- management directors meet in executive session for a portion of most Board meetings with only the Corporate Secretary present in instances where the presence of the