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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

Show Other Fields >>

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

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.
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.
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.
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.
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.