Company: UTZ
Filing Date: 2025-01-07
Form Type: 8-K
Source: 0001739566-25-000036
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Company: Utz Brands, Inc.
Filing Date: 2025-01-07
Form: 8-K
Item: Item 5.02
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 7, 2025, Utz Brands, Inc. (the “ Company” or “ Utz”) announced changes to its Executive Leadership Team, that were made effective on January 6, 2025 (the “ Effective Date”). Following discussions initiated by Cary Devore, the Company’s current Executive Vice President and Chief Transformation and Operating Officer, Mr. Devore will assume a newly created role as the Company’s Head of Capital Markets and M& A. Mr. Devore will continue to report directly to Howard Friedman, Chief Executive Officer.

With this change, effective as of the Effective Date, the Company will consolidate the Transformation Office and the Integrated Business Planning under Mitch Arends, the Company’s Chief Integrated Supply Chain Officer, and Mr. Arends will assume the position as the Company’s Principal Operating Officer. Through this consolidation, the Company expects to continue to help drive revenue growth, productivity, and operational excellence. Mr. Arends’s compensation will remain unchanged as of the Effective Date. Additional information regarding Mr. Arends’s age, background and experience are disclosed under “ Executive Officers of Utz Brands, Inc.” in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on March 14, 2024.

Following these changes, Mr. Devore’s annual base salary will decrease as of the Effective Date to $100,000 per calendar year, subject to standard payroll practices of the Company. Mr. Devore will also be eligible for a short term incentive bonus program tied to specific M& A outcomes, and also the Company’s other compensation and employee benefit plans described in the Proxy Statement, as the same may be adjusted from time-to-time.

Forward-Looking Statements