Company: UTZ
Filing Date: 2025-03-13
Form Type: DEF 14A
Source: 0000950170-25-038342
Chunk: 44

Company: Utz Brands, Inc.
Filing Date: 2025-03-13
Form: DEF 14A
Chunk 44
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 YEAR 2024 GOALS ($ MILLIONS) 
 THRESHOLD                           |     | TARGET |       |     | MAXIMUM                 |
|:----------------|:----|:------------------------------------|:----|:-------|------:|:----|:------------------------|
| Adjusted EBITDA |     | $193 (94% of Target)                |     | $      |   200 |     | $214 (113% of Target)   |
| Net Sales       |     | $1,392 (96% of Target)              |     | $      | 1,442 |     | $1,542 (107% of Target) |

The Adjusted EBITDA and net sales goals and results were calculated for the purposes of the ABP in accordance with pre-established rules established by our Compensation Committee. Net sales was defined as net sales calculated in accordance with GAAP. Adjusted EBITDA was defined as Net Income before Interest, Income Taxes, and Depreciation and Amortization, further adjusted to exclude certain non-cash items, such as stock-based compensation, hedging and purchase commitments adjustments, and asset impairments; acquisition and integration costs; business transformation initiatives; and financing-related costs. In addition, Adjusted EBITDA excludes the effects of changes in GAAP and business combinations and divestitures subject to pre-established criteria and thresholds, where applicable. In 2024, we set forth the below four primary objectives in our OGSM system. OGSMs are departmental objectives, goals, strategies, and metrics that drive specific functional priorities in the organization. These OGSMs are then cascaded deep into the organization with subordinate goals and strategies that support the larger OGSMs. Management, under the Compensation Committee’s supervision, implemented the following objectives through individual projects: ▪ Focus our portfolio ▪ Transform our supply chain

#### 2025 Proxy Statement37
EXECUTIVE AND DIRECTOR COMPENSATION § COMPENSATION DISCUSSION AND ANALYSIS ▪ Develop leading capabilities ▪ Improve balance sheet Our performance against the OGSM component of the ABP was determined by the Compensation Committee with input by management based on its assessment of performance, using the following:

| ASSESSMENT                         |     | PAYOUT FOR OGSM COMPONENT |
| Significantly Exceeds Expectations |     | 150-200%                  |
| Exceeded Expectations              |     | 120-150%                  |
| Met Expectations                   |     | 80-120