Company: UAA
Filing Date: 2025-06-26
Form Type: DEF 14A
Source: 0001336917-25-000112
Chunk: 39

Company: Under Armour, Inc.
Filing Date: 2025-06-26
Form: DEF 14A
Chunk 39
---
 based on the performance level achieved or forfeiture of the awards if threshold performance level is not achieved 
 If performance metrics are achieved, awards vest in three equal annual installments beginning in June 2025                                                                                                                                                                         
 Emphasizes and incentivizes financial performance by providing upside potential for stronger growth and profitability and further promotes long-term retention of executives and alignment with stockholder interests                                                              |

Employees receiving equity awards under the 2005 Plan are chosen primarily based on their position and responsibilities within the company. The amount of the equity award to each employee is generally tiered based on the employee’s level within the company and competitive market practices, and for executive officers the Human Capital and Compensation Committee considered the mix of equity awards as part of the total compensation for executives. Employees at the Senior Vice President level and above receive 50% of their annual equity awards granted in the form of time based restricted stock units and 50% granted in the form of performance based restricted stock units, while equity-eligible employees below the Senior Vice President level receive 100% of their annual equity awards granted in the form of time based restricted stock units.

With respect to each of the other named executive officers, the committee recommended an annual equity award target with the same grant date fair value as the prior year (with 50% granted in the form of time based restricted stock units and 50% in the form of performance based restricted stock units). These equity awards are included in the “Grants of Plan-Based Awards for Fiscal Year 2025” table below. Mr. Dausch forfeited all of his fiscal year 2025 annual equity awards upon his departure.

While historically the annual performance based restricted stock unit awards included three-year combined currency neutral net revenue and adjusted operating income targets, given the change in CEO, which occurred in April 2024 just prior to the annual equity award grant date in June 2024, the company’s strategic decision to proactively reduce discounting and promotional activity in its direct-to-consumer business and the general uncertainty and volatility in the retail sector, management recommended, and the committee approved, a one-year performance period for the performance based equity awards granted in fiscal year 2025 based on currency neutral net revenue and adjusted operating income targets consistent with our financial plan at the start of fiscal year 2025.

<div align='center'>33</div>

Below is a summary of the targets considered in our fiscal year 2025 performance based restricted stock unit awards, their relative weighting and our performance against each metric:

| Fiscal Year 2025