Company: UAA
Filing Date: 2025-06-26
Form Type: DEF 14A
Source: 0001336917-25-000112
Chunk: 33

Company: Under Armour, Inc.
Filing Date: 2025-06-26
Form: DEF 14A
Chunk 33
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 Dausch served as Chief Consumer Officer from July 2023 to May 2024, and served as Chief Strategy and Consumer Experience Officer from May 2024 through August 30, 2024, when he left the company.

Mr. Plank returned to the role of President and Chief Executive Officer effective April 1, 2024. Previously, he served as the Executive Chair and Brand Chief. In connection with returning to the role of President and Chief Executive Officer, the Human Capital and Compensation Committee approved an increase in his annual base salary from $500,000 to $900,000, effective July 1, 2024.

The Human Capital and Compensation Committee did not increase any other named executive officer’s base salary in fiscal year 2025. In making this decision, the committee considered competitive market data on compensation for comparable positions from WTW’s executive compensation market assessment, which includes surveys and proxy data.

Annual Cash Incentive Award

Plan Design and Performance Measures

We have an annual cash incentive plan for our executive officers pursuant to which executives are eligible for a cash incentive award based primarily on company performance during the year. In May 2024, we announced our financial expectations for fiscal year 2025, noting that we expected net revenue to be down at a low-double-digit percentage rate as compared to the prior fiscal year, and adjusted operating income of $130 million to $150 million. The Human Capital and Compensation Committee considered these expectations when establishing targets under the annual cash incentive plan.

Below is a summary of the targets considered in our annual cash incentive plan for fiscal year 2025, their relative weighting and our performance against each metric:

| Fiscal Year 2025 Annual Cash Incentive Plan Financial Targets |     |           |     |                                                                                                        |     |                |     |                |     |                |     |                |
|                                                               |     | Weighting |     | Description                                                                                            |     | Threshold      |     | Target         |     | Maximum        |     | FY2025 Results |
| Adjusted Operating Income*                                    |     | 65%       |     | Weighting emphasizes the continued importance of profitability when determining ultimate award amounts |     | $130 million   |     | $190 million   |     | $224 million   |     | $212 million   |
| Currency Neutral Net Revenue**                                |     | 35%       |     | Continued revenue growth considered a fundamental indicator of our business strength                   |     | $5,025 million |     | $5