CEO Howard Friedman will leave Utz Brands effective November 30, 2026, contingent on the closing of its proposed merger with Intersnack Group at $14.25 per share in cash. The company also disclosed that board member B. John Lindeman has been offered the role of CEO for the surviving private entity post-closing, subject to a formal employment agreement and an 18-month term with a $1.7 million base salary. This filing supplements disclosures regarding stockholder litigation challenging the merger proxy statement and details Lindeman's compensation package, including a potential $500,000 bonus for appointing a permanent successor within his term. Utz Brands manufactures and distributes snack foods.
