Filing Details

Accession Number:
0001415889-23-007123
Form Type:
4
Zero Holdings:
No
Publication Time:
2023-05-02 19:28:16
Reporting Period:
2023-05-01
Accepted Time:
2023-05-02 19:28:16
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
1856608 Sovos Brands Inc. SOVO () 4
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1243126 R Todd Lachman C/O Sovos Brands, Inc.
168 Centennial Parkway, Suite 200
Louisville CO 80027
President And Ceo No No No No
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Common Stock Disposition 2023-05-01 80,000 $17.06 2,299,761 No 4 S Direct
Common Stock Disposition 2023-05-01 20,000 $17.12 414,828 No 4 S Indirect By trust
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 S Direct
No 4 S Indirect By trust
Footnotes
  1. This transaction was effected pursuant to a written plan that was adopted prior to the SEC's adoption of amendments to Rule 10b5-1 of the Exchange Act in December 2022 and was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) as in effect at the time of adoption. The plan was structured to include several sale periods and was established as part of the Reporting Person's long-term strategy for asset diversification and financial, retirement, estate and tax planning activities over a period of time.
  2. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $16.75 to $17.30, 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 sold at each separate price within the range set forth in this footnote.
  3. Includes 269,615 restricted shares of common stock of the Issuer subject to time-based vesting and the Reporting Person's continued service with the Issuer (a portion of which vest on December 30, 2023, September 23, 2024 or September 23, 2025, if the original performance goals are not earlier achieved), 420,811 restricted shares of common stock of the Issuer subject to performance-based vesting and the Reporting Person's continued service with the Issuer, and 625,080 restricted stock units subject to time-based vesting, subject to the terms of the applicable award agreement.
  4. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $16.74 to $17.30, 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 sold at each separate price within the range set forth in this footnote.
  5. Includes 67,403 restricted shares of common stock of the Issuer subject to time-based vesting (a portion of which will vest on December 30, 2023, September 23, 2024 or September 23, 2025, if the original performance goals are not earlier achieved) and 91,204 restricted shares of common stock of the Issuer, subject to performance-based vesting, in each case, subject to the Reporting Person's continued service with the Issuer and the terms of the applicable award agreement.