B. John Lindeman
About B. John Lindeman
B. John Lindeman (age 55) is an independent Class I director of Utz Brands, Inc. since August 2020, with a term expiring at the 2027 annual meeting. He is Chief Executive Officer of Hydrofarm Holdings Group, Inc. (Nasdaq: HYFM) since January 2025 and previously served as Hydrofarm’s CFO (2020–2024). He is a Chartered Financial Analyst with a B.S. in Business Administration from the University of Mary Washington .
Past Roles
| Organization | Role | Tenure | Committees / Impact |
|---|---|---|---|
| Hydrofarm Holdings Group, Inc. (HYFM) | Chief Executive Officer | Jan 2025–present | CEO since 2025; previously CFO overseeing finance and operations |
| Hydrofarm Holdings Group, Inc. (HYFM) | Chief Financial Officer | Mar 2020–Dec 2024 | Led finance; transitioned to CEO in 2025 |
| Calavo Growers, Inc. (Nasdaq-GS: CVGW) | CFO & Corporate Secretary | Aug 2015–Mar 2020 | Led finance, accounting, IT, HR; later joined Calavo’s board and audit committee in 2024 |
| Janney Montgomery Scott | Managing Director, Co-Head Consumer & Retail | Aug 2009–Mar 2015 | Investment banking leadership |
| Stifel Nicolaus | Managing Director | Dec 2005–Aug 2009 | Investment banking leadership |
| Legg Mason | Principal | Oct 1999–Dec 2005 | Investment roles |
| PricewaterhouseCoopers LLP | Manager | Aug 1996–Oct 1999 | Assurance/consulting experience |
External Roles
| Organization | Role | Tenure | Committees / Notes |
|---|---|---|---|
| Hydrofarm Holdings Group, Inc. (HYFM) | Chief Executive Officer | Jan 2025–present | Executive leadership |
| Calavo Growers, Inc. (CVGW) | Director | Jun 2024–present | Audit committee member |
Board Governance
- Independence: Identified as an independent director under NYSE rules; all audit committee members are independent .
- Committee assignments: Audit Committee member (other members: Craig Steeneck—Chair, Roger Deromedi, Antonio Fernandez). Audit met 8 times in FY2024; the Board met 7 times .
- Attendance: In 2024, each incumbent director attended at least 75% of Board meetings; aggregate Board attendance was >95%; committee attendance was ≥95% .
- Tenure and classification: Class I director; term expires at the 2027 annual meeting .
- Executive sessions: Non-management directors meet in executive session for a portion of most Board meetings .
Fixed Compensation
| Component | FY2024 Amount | Notes |
|---|---|---|
| Annual cash retainer | $87,500 | Standard non-employee director retainer |
| Committee chair fees | $0 | Not a committee chair (Audit Chair is Steeneck; other chairs listed) |
| Meeting fees | $0 | Not disclosed; program is retainer-based |
| Lead/Board chair fees | $0 | LID/Chair roles held by others |
Performance Compensation
| Equity Type | FY2024 Value | Grant Mechanics | Vesting |
|---|---|---|---|
| RSUs (annual equity retainer) | $134,730 | RSUs granted upon initial election and annually; vests on earlier of one-year anniversary or next annual meeting | |
| Director PSU/Options | Not applicable | Directors receive RSUs; PSUs and options are not part of standard director pay program |
Performance metrics tied to director compensation: None (director equity is time-based RSUs; company ABP/PSU metrics apply to executives, not directors) .
Other Directorships & Interlocks
| Company | Role | Potential Interlock/Conflict |
|---|---|---|
| Hydrofarm Holdings Group, Inc. | CEO | No UTZ-related transactions disclosed; hydroculture equipment business is unrelated to UTZ’s salty snacks |
| Calavo Growers, Inc. | Director, Audit Committee | No UTZ-related transactions disclosed; oversight experience on audit at a food company |
- Compensation committee interlocks: UTZ’s 2024 Compensation Committee members did not include Lindeman; no interlocks disclosed for him .
Expertise & Qualifications
- Financial/operational leadership as CFO (Calavo; Hydrofarm) and CEO (Hydrofarm); CFA charterholder .
- Audit literacy; member of UTZ Audit Committee overseeing financial reporting, related-party transactions, ERM, and cybersecurity risks .
- Capital markets and investment banking background (Janney, Stifel, Legg Mason, PwC) .
Equity Ownership
| Holding Type | Amount | As-of |
|---|---|---|
| Class A Common Stock (beneficial) | 42,480 shares | Measurement Date Mar 4, 2025 |
| RSUs outstanding | 7,420 shares | As of Dec 29, 2024 |
Stock ownership guidelines: Non-employee directors must hold 5× the annual Board retainer; UTZ reports all directors were in compliance in FY2024 .
Pledging/hedging: Directors are prohibited from short sales, derivatives, and hedging/monetization transactions; no pledges by directors disclosed .
Insider Trades
| Date | Transaction | Shares | Price | Holdings After | Source |
|---|---|---|---|---|---|
| Aug 5, 2024 | Open market purchase | 4,000 | $16.11 | 42,480 | |
| Apr 24, 2025 | Stock award (grant of RSUs per annual retainer) | — | $0.00 | — |
Governance Assessment
- Board effectiveness: Lindeman adds deep finance, capital markets, and public-company operating experience; his audit committee role supports robust oversight of financial reporting, ERM, and cybersecurity .
- Independence and engagement: Classified independent, on a fully independent audit committee; UTZ reported strong attendance at Board/committee meetings in 2024 (≥75% per director; >95% aggregate Board; ≥95% committee) .
- Ownership alignment: Beneficial ownership and RSUs indicate skin-in-the-game; UTZ’s stock ownership guidelines (5× retainer) and compliance reduce misalignment risk .
- Potential conflicts: No related-party transactions involving Lindeman disclosed. Note broader Investor Rights Agreement that grants nomination rights to certain holders—structural consideration for investors when evaluating overall Board independence dynamics (not specific to Lindeman) .
- Red flags: None disclosed for Lindeman (no pledging/hedging, no related-party transactions, no attendance concerns). Governance policies include clawback for executives and strict insider trading restrictions, enhancing confidence .
Overall: Lindeman’s audit committee membership and CFO/CEO track record enhance Board oversight of financial and risk matters; lack of related-party ties and compliance with ownership guidelines supports investor alignment. Structural nomination rights under the Investor Rights Agreement warrant monitoring for broader Board independence, but do not implicate Lindeman directly .