Company: UAA
Filing Date: 2025-06-26
Form Type: DEF 14A
Source: 0001336917-25-000112
Chunk: 52

Company: Under Armour, Inc.
Filing Date: 2025-06-26
Form: DEF 14A
Chunk 52
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 fiscal year 2025 performance based restricted stock unit awards granted to the named executive officers, other than Mr. Plank, vest based on the company achieving certain combined currency neutral net revenue and adjusted operating income targets for fiscal year 2025. The number of potential shares eligible to vest range from 0% of the target amount to 200% of the target amount depending on performance. Upon achievement of the performance requirements, the award amount earned vests in three equal installments in June 2025, May 2026 and May 2027, subject to continued employment through each vesting date. As discussed above, we achieved between the target and maximum levels of performance for the adjusted operating income performance metric and between the threshold and target levels of performance for the currency neutral net revenue performance metric, which resulted in 107% of the target amount of these awards earned. Mr. Dausch forfeited this award in full upon his departure from the company.

The fiscal year 2025 performance based restricted stock unit award granted to Mr. Plank vests only upon achievement of a share-price hurdle, which requires the average of the closing trading prices of our Class C Stock to equal or exceed $13.00 over 60 consecutive trading days. If the share-price hurdle is not achieved prior to March 31, 2028, the award will be forfeited in full. If the share-price hurdle is achieved during fiscal year 2025, then the award amount earned vests in four equal installments in June 2025, May 2026, May 2027 and May 2028. If the share-price hurdle is achieved during fiscal year 2026, then the award amount earned vests 1,000,000 units in May 2026, 500,000 units in May 2027 and 500,000 units in May 2028. If the share-price hurdle is achieved during fiscal year 2027, then the award amount earned vests 1,500,000 units in May 2027 and 500,000 units in May 2028. If the share-price hurdle is achieved during fiscal year 2028, then the award amount earned vests in full in May 2028. In each case, vesting is subject to continued employment through the vesting date. As discussed above under “Compensation Discussion and Analysis—Equity Awards—Annual Equity Awards for the Chief Executive Officer for Fiscal Year 2025,” the share-price hurdle was not achieved during fiscal year 2025.

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