Company: UAA
Filing Date: 2025-06-26
Form Type: DEF 14A
Source: 0001336917-25-000112
Chunk: 37

Company: Under Armour, Inc.
Filing Date: 2025-06-26
Form: DEF 14A
Chunk 37
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 the committee has used only our Class C Stock for equity compensation in recent years.

Annual Equity Awards for the Chief Executive Officer for Fiscal Year 2025

For fiscal year 2025 , in connection with Mr. Plank returning to the role of President and Chief Executive Officer, management recommended, and the committee approved, granting pursuant to the 2005 plan a performance based restricted stock unit award for 2,000,000 shares of the company’s Class C Stock (representing a grant date fair value of $8,260,000) (the “CEO PSU Award”) and a time based restricted stock unit award for $840,000 of the company’s Class C Stock (the “CEO RSU Award”). These equity awards are included in the “Grants of Plan-Based Awards for Fiscal Year 2025” table below.

The CEO PSU Award is eligible to vest in certain annual increments only upon achievement of a share-price hurdle. This requires that the average of the closing trading prices of the Class C Stock equal or exceed $13.00 over 60 consecutive trading days. The closing price of the Class C Stock on the New York Stock Exchange on the grant date, June 3, 2024, was $6.78 per share. As our founder and majority stockholder, tying the majority of Mr. Plank’s compensation solely to achievement of a significant share price increase represents his commitment to and confidence in the performance and growth of our business and provides further alignment with stockholder interests.

Under the terms of the CEO PSU Award, if the share-price hurdle is not achieved prior to March 31, 2028, the award will be forfeited in full. The share-price hurdle was not achieved during fiscal year 2025. If the share-price hurdle is achieved during fiscal year 2026, then the award 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 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 vests in full in May 2028.

The CEO RSU Award follows the design of the time based awards granted to the other named executive officers described below, and vests in three equal annual installments in June 2025,