Company: UAA
Filing Date: 2025-06-26
Form Type: DEF 14A
Source: 0001336917-25-000112
Chunk: 35

Company: Under Armour, Inc.
Filing Date: 2025-06-26
Form: DEF 14A
Chunk 35
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 |     | Maximum                 |
| (Pays at 50% of Target) |     |                      |     | -Pays at 200% of Target |
| 37.5% of annual salary  |     | 75% of annual salary |     | 150% of annual salary   |

The Human Capital and Compensation Committee did not increase the annual cash incentive award target levels for fiscal year 2025 as compared to fiscal year 2024. Between the threshold amount and the target amount of each metric, and the target amount and maximum amount of each metric, the company utilizes a sliding scale to determine the payout based on the amount of funding generated by the incremental adjusted operating income dollars or currency neutral net revenue dollars. The annual incentive amounts for all the named executive officers were set at the above levels in order to have a significant percentage of the executive officers’ total compensation tied primarily to corporate performance. We believe tying a significant percentage of executive officers’ total compensation to corporate performance supports our objective to motivate our executives to build and profitably grow our business.

With respect to adjusted operating income, we achieved between the target and maximum performance levels, with adjusted operating income of $212 million. With respect to currency neutral net revenue, we achieved between the threshold and target performance level, with currency neutral net revenue of $5.19 billion . Based on these performance conditions, the Human Capital and Compensation Committee approved fiscal year 2025 annual cash incentive award amounts for the named executive officers at 115% of the target level of performance.

The annual cash incentive award for our executives is primarily determined based on the performance measures discussed above. However, the Human Capital and Compensation Committee considers the overall performance of our executive officers, and may adjust the annual incentive amounts based on individual performance during the year. Performance reviews are generally based on a qualitative assessment of performance and consider the executive’s performance and the performance of the department or departments for which the executive has responsibility, as well as the contributions the executive and department are making to the overall success of Under Armour. The CEO makes recommendations to the committee for adjustments for executives, if any. For fiscal year 2025 , Mr. Curran and Mr. Saidi received individual performance adjustments to their annual cash incentive awards, resulting in their final award amounts multiplied by 1.05 (or 105% of the amount). This was based on their strong performance against strategic objectives in their respective areas. Ms. Trent also received an individual performance adjustment for her fiscal year 2025 annual cash incentive award,