Company: UTZ
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001739566-25-000053
Chunk: 138

Company: Utz Brands, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 138
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 were as follows:(in thousands)For the Fiscal Year Ended December 29, 2024For the Fiscal Year Ended December 31, 2023For the Fiscal Year Ended January 1, 2023RSUs$10,981 $9,705 $5,136 PSUs5,613 4,279 2,253 Stock options815 1,281 1,056 Pre-tax compensation expense$17,409 $15,265 8,445 Related income tax benefit(3,452)Impact to net income$4,993 The tax benefit recognized from the share-based compensation expense is nominal for the fiscal years ended December 29, 2024 and December 31, 2023 due to a valuation allowance.Unrecognized compensation expense related to nonvested share-based compensation grants was as follows:(in thousands)As of December 29, 2024As of December 31, 2023RSUs$7,400 $7,372 PSUs6,548 6,800 Stock options4 819 Total$13,952 $14,991 Restricted and Performance Share Units2020 Omnibus Equity Incentive Plan In 2020, the Company adopted, with stockholder approval, the Utz Brands, Inc. 2020 Omnibus Equity Incentive Plan (as amended, the “2020 Plan”), which provides our executive officers and other participating associates with equity-based, long-term incentives, including RSUs, PSUs and stock options.Restricted Share UnitsUnder the 2020 Plan, the Company grants RSUs representing the right to receive one share of the Company’s Class A Common Stock upon vesting, provided that the recipient remains employed with the Company through the vesting and subject to certain forfeiture conditions and restrictions. The RSUs vest according to specific vesting conditions set forth in the RSU award agreements. RSUs that become vested also generally entitle the holder to be credited with dividend equivalent payments in cash, with such dividend equivalents payable when, and to the extent, the RSUs are settled (or such accrued dividend equivalents will be forfeited to the extent the RSUs are forfeited).Performance Share UnitsThe Company issues PSUs under the 2020 Plan, which provide the participant with the opportunity to earn shares of the Company’s Class A Common Stock if the Company achieves certain performance goals determined by the administrator of the 2020 Plan. All PSUs granted since the adoption of the