Company: UTZ
Filing Date: 2025-03-13
Form Type: DEF 14A
Source: 0000950170-25-038342
Chunk: 48

Company: Utz Brands, Inc.
Filing Date: 2025-03-13
Form: DEF 14A
Chunk 48
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 targets for such awards. At the end of the performance period, our total stockholder return position will be ranked relative to the total stockholder returns of each member of the performance peer group. Our performance is measured against the companies in the performance peer group that remain within the performance peer group for the entire performance period, subject to the terms of the PSU award agreement. PSU Awards Issued Prior to Fiscal Year 2024: Pursuant to the PSU awards issued prior to fiscal year 2024, total stockholder returns for the Company and each other member of the performance peer group is determined by dividing (i) the sum of (A) the difference obtained by subtracting the volume weighted average closing market prices of the relevant company’s common stock on the principal exchange on which such stock is traded for the ten consecutive days ending on the trading day preceding the first trading day of the applicable performance period (the “Pre- 2024 Beginning Price”) from the volume weighted average closing market prices of the relevant company’s common stock on the principal exchange on which such stock is traded for the ten consecutive days ending on the trading day preceding the last trading day of the applicable performance period, plus (B) all dividend and other distributions on the respective shares during the applicable performance period by (ii) the Pre-2024 Beginning Price. Under these awards, the total number of PSUs that vest is based on the ranking of our total stockholder return relative to the total stockholder return of each of our peer companies, and ranges from a 200% payout for ranking in the 90th percentile or above, to 150% for raking in the 70th percentile, 100% payout for ranking at the 50th percentile, 50% payout for ranking at the 30th percentile, and 0% payout for ranking below the 30th percentile with percentiles interpolated between these payouts.

| PSU Awards Issued Prior to Fiscal Year 2024      |                             |
| TSR Results (Percentile of Utz TSR vs. Peer TSR) | % of Target (Interpolation) |
| 90% or Above                                     | 200%                        |
| 70%                                              | 150%                        |
| 50%                                              | 100%                        |
| 30%                                              | 50%                         |
| Less than 30%                                    | 0%                          |

The number of PSUs earned under the grant made on January 31, 2022 over a performance period ending on December 31, 202