Company: UTZ
Filing Date: 2025-03-13
Form Type: DEF 14A
Source: 0000950170-25-038342
Chunk: 40

Company: Utz Brands, Inc.
Filing Date: 2025-03-13
Form: DEF 14A
Chunk 40
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 by soliciting input from our Executive Leadership Team, which generally refers to our full-time associates having a title of Executive Vice President or higher. This process is led by our Chief Executive Officer, with additional input from the Chairperson of the Board, our Executive Vice President & Chief People Officer, our Lead Independent Director, the Chairperson and other members of our Compensation Committee, representatives of F.W. Cook and other members of the Board. These parties annually review significant compensation elements. After receipt of the input noted and development of proposed plans, such plans are presented to the Compensation Committee, which determines the terms of and ultimately adopts our compensation program. None of our executive officers participate in discussions involving their own compensation. The Compensation Committee reviews and approves annual compensation elements such as bonus plan structure, and our Board reviews full-year sales, earnings and management performance based on the Company objectives.

#### 2025 Proxy Statement33
EXECUTIVE AND DIRECTOR COMPENSATION § COMPENSATION DISCUSSION AND ANALYSIS Our Stockho lders Strongly Approve of Our Pay Practices Last year, our stockholders overwhelmingly approved our “say-on-pay” resolution, with more than 99% of the combined votes cast by the holders of the Class A Common Stock and Class V Common Stock in favor. Our Compensation Committee believes the results of last year’s “say-on-pay” vote affirmed our stockholders’ support of our Company’s executive compensation program. Consequently, our approach to executive compensation in fiscal year 2024 was substantially the same as the approach stockholders approved in fiscal year 2023. P eer Group The Compensation Committee, in consultation with F.W. Cook, has identified a peer group of 11 publicly traded companies to be used as a competitive reference point in determining total compensation packages for our Executive Leadership Team, including the named executive officers. Our peer group includes consumer products companies, most of which are focused on food and beverage in North America and which are similar to us with respect to revenue (peer group median revenue $1.8 billion as of Fiscal Year 2024 end) and market capitalization (peer group median market capitalization $1.9 billion as of Fiscal Year 2024 end). Peer group selection included companies in the Global Industry Classification Standard in the sub-industry categories of packaged foods and meats and personal products. For purposes of evaluating fiscal year 2024 compensation decisions, the Compensation Committee utilized the same peer group used for fiscal year 2023 compensation decisions with the exception of the removal of Prestige Consumer Healthcare due to poor