4//SEC Filing
Jensen Kirk A. 4
Accession 0001415889-23-001228
CIK 0001856608other
Filed
Jan 18, 7:00 PM ET
Accepted
Jan 19, 8:06 PM ET
Size
17.5 KB
Accession
0001415889-23-001228
Insider Transaction Report
Form 4
Jensen Kirk A.
Chief Supply Chain Officer
Transactions
- Sale
Common Stock
2023-01-17$13.55/sh−13,850$187,641→ 410,753 total - Sale
Common Stock
2023-01-18$13.47/sh−28,583$384,990→ 382,170 total
Footnotes (6)
- [F1]Represents the number of shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of restricted stock units. This sale is mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the Reporting Person.
- [F2]The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $13.4371 to $13.55, inclusive. The Reporting Person undertakes to provide to the Issuer, any stockholder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
- [F3]Includes 119,718 restricted shares of common stock of the Issuer subject to performance-based vesting and the Reporting Person's continued service with the Issuer (a portion of which will vest on the last day of fiscal 2023, if such performance goals are not earlier achieved), 73,682 restricted stock units subject to time-based vesting, and 31,250 restricted stock units subject to performance-based vesting, in each case, subject to the terms of the applicable award agreement.
- [F4]This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on 08/25/2022.
- [F5]The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $13.17 to $14.03, inclusive. The Reporting Person undertakes to provide to the Issuer, any stockholder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
- [F6]Includes 119,718 restricted shares of common stock of the Issuer subject to performance-based vesting and the Reporting Person's continued service with the Issuer (a portion of which will vest on the last day of fiscal 2023, if such performance goals are not earlier achieved), 45,099 restricted stock units subject to time-based vesting, and 31,250 restricted stock units subject to performance-based vesting, in each case, subject to the terms of the applicable award agreement.
Documents
Issuer
Sovos Brands, Inc.
CIK 0001856608
Entity typeother
Related Parties
1- filerCIK 0001882824
Filing Metadata
- Form type
- 4
- Filed
- Jan 18, 7:00 PM ET
- Accepted
- Jan 19, 8:06 PM ET
- Size
- 17.5 KB