A folding utility knife has a
handle and a blade holder pivotally mounted on he
handle. The blade holder is movable between (i) a closed position with the blade holder pivoted inwardly toward the
handle, (ii) a
cutting position with the blade holder pivoted outwardly relative to the handle, and (iii) a blade release position located between the closed position and the
cutting position. A blade release
actuator is located on the blade holder and is movable between (i) a first position preventing release of a utility knife blade located on the blade holder, and (ii) a second position permitting release of a utility knife blade located on the blade holder. A locking member is movable between (i) a blade locking position with the blade holder located in the
cutting position that prevents movement of the blade release
actuator from the first position to the second position, and (ii) a blade release position with the blade holder located in the blade release position that permits movement of the blade release
actuator from the first position to the second position to, in turn, release a utility knife blade from the blade holder.