Company: UAA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001336917-25-000136
Chunk: 103

Company: Under Armour, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 103
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 the Company's Class C Common Stock. The fair value of these awards was determined on the grant date using a Monte Carlo simulation model.•0.6 million performance-based restricted stock units, granted during Fiscal 2025, with a weighted average fair value of $6.88. These awards have financial performance conditions with vesting that is tied to the achievement of certain annual revenue and operating income targets, which were achieved as of June 30, 2025.•0.9 million performance-based restricted stock units, granted during Fiscal 2024, with a weighted average fair value of $6.93. These awards have financial performance conditions with vesting that is tied to the achievement of certain revenue and operating income targets. As of June 30, 2025, the Company continued to deem the achievement of the targets for these awards to be improbable and as such no stock-based compensation expense was recorded during the three months ended June 30, 2025.The Company assesses the probability of the achievement of the revenue and operating income targets at the end of each reporting period and based on that assessment cumulative adjustments may be recorded in future periods.

NOTE 13. FAIR VALUE MEASUREMENTSFair value is defined as the price that would be received to sell an asset or the exit price that would be paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value accounting guidance outlines a valuation framework, creates a fair value hierarchy in order to increase the consistency and comparability of fair value measurements and the related disclosures, and prioritizes the inputs used in measuring fair value as follows:

20

Level 1:Observable inputs are based upon unadjusted quoted prices for identical instruments traded in active markets.Level 2:Inputs, other than quoted prices in active markets included within level 1, that are directly or indirectly observable. Level 3:Unobservable inputs for which there is little or no market data and which require the reporting entity to develop its own assumptions.Financial assets and liabilities measured at fair value on a recurring basisThe Company's financial assets (liabilities) measured at fair value on a recurring basis consisted of the following types of instruments as of the following periods:June 30, 2025March 31, 2025Level 1Level 2Level 3Level 1Level 2Level 3Derivative foreign currency contracts (see Note 14)$— $(63,482)$— $— $192 $— Deferred Compensation Plan obligations