Company: UTZ
Filing Date: 2025-03-13
Form Type: DEF 14A
Source: 0000950170-25-038342
Chunk: 49

Company: Utz Brands, Inc.
Filing Date: 2025-03-13
Form: DEF 14A
Chunk 49
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4 was 70% based on TSR results during the completed performance period in the 38th percentile.

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EXECUTIVE AND DIRECTOR COMPENSATION § COMPENSATION DISCUSSION AND ANALYSIS PSU Awards Issued in Fiscal Year 2024: In fiscal year 2024, we made changes to how we measured our relative TSR performance for purposes of our PSUs, including a change of our performance peer group to the S&P Packaged Foods & Meat Index, as well as changes to the percentile rankings under which payouts are calculated. Under the fiscal year 2024 PSUs, the total number of PSUs that vest is based on the ranking of our total stockholder return relative to the total stockholder return of the S&P Packaged Food & Meat Index, and ranges from a 200% payout for ranking in the 75th percentile or above, to 100% payout for ranking at the 50th percentile, 50% payout for ranking at the 25th percentile, and 0% payout for ranking below the 25th percentile, with percentiles interpolated between these payouts. These structure changes better align the Company to the peer set and large-cap consumer goods PSU programs. Under the PSUs issued in fiscal year 2024, TSR for the Company and each other member of the S&P Packaged Food & Meat Index 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 thirty consecutive days ending on the trading day preceding the first trading day of the applicable performance period (the “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 thirty 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 Beginning Price.

| PSU Awards Issued In Fiscal Year 2024            |                             |
| TSR Results (Percentile of Utz TSR vs. Peer TSR) | % of Target (Interpolation) |
| 75% or Above                                     | 200%                        |
| 50%                                              | 100%                        |
| 25%                                              | 50%                         |
| Less than 25%                                    | 0%                          |

When PSUs become vested, the