Company: UAA
Filing Date: 2025-06-26
Form Type: DEF 14A
Source: 0001336917-25-000112
Chunk: 40

Company: Under Armour, Inc.
Filing Date: 2025-06-26
Form: DEF 14A
Chunk 40
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 Performance Based Equity Awards Financial Targets |     |           |     |                |     |                |     |                |     |                |
|                                                                    |     | Weighting |     | Threshold      |     | Target         |     | Maximum        |     | FY2025 Results |
| Adjusted Operating Income                                          |     | 50%       |     | $130 million   |     | $190 million   |     | $275 million   |     | $212 million   |
| Currency Neutral Net Revenue                                       |     | 50%       |     | $5,025 million |     | $5,250 million |     | $5,515 million |     | $5,194 million |

As a result, 107% of the target amount of the fiscal year 2025 performance based equity awards was earned, vesting in three equal annual installments, the first of which vested in June 2025.

Time Based Equity Awards

From time to time management recommends, and the Human Capital and Compensation Committee approves, other time based restricted stock unit awards to certain of our executive officers, typically in connection with the officer joining our company, a change in the scope of the officer’s responsibilities, or to ensure that the officer’s financial interests are sufficiently aligned with the interests of our stockholders. In determining the amount of these awards, management and the committee considered primarily the executive’s position and level of responsibility within our company, as well as the retention and long-term incentive value of the award.

In August 2024, management recommended, and the committee approved, a time based restricted stock unit award with a grant date fair value of $350,000 for Mr. Saidi. The award will vest in two equal installments in August 2026 and August 2027, subject to continued employment. In considering this award, the committee considered the value of Mr. Saidi’s outstanding unvested equity awards and the criticality of his role to the company’s business strategy and financial performance. This equity award is included in the “Grants of Plan-Based Awards for Fiscal Year 2025” table below.

Fiscal Year 2026 Compensation Changes

As discussed above, the company historically establishes both short-term and long-term performance compensation financial targets during the first quarter of each fiscal year, informed by management’s financial expectations for the fiscal year. In May 2025, given the uncertainty in the global trade environment due to recent changes in trade policy, our Human Capital and Compensation Committee delayed approval of certain elements