Company: UAA
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001336917-25-000198
Chunk: 2

Company: Under Armour, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 4
Chunk 2
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 on and remains committed to implementing measures designed to ensure that the control deficiencies that contributed to the material weakness are remediated. As it specifically relates to actions taken during the quarter ended September 30, 2025, we implemented changes in governance and oversight, as well as developed and implemented controls as part of our second quarter close process and will continue to enhance or modify these controls in future periods if needed. Although our remediation measures are ongoing, we believe the actions taken during the second quarter, as well as the cumulative actions taken to date, described below, will contribute towards the remediation of the previously identified material weakness:

•We prepared a remediation plan for the material weakness and performed training with process owners to improve documentation that supports effective control activities, including evidence of the completeness and accuracy of information produced by the entity; 

•We developed and deployed a new global balance sheet account reconciliation policy and approval process, which provides additional oversight, monitoring and account reconciliation governance;

•We have redesigned and implemented new controls that evaluate process adoption and monitor results; and

•We engaged third party consultants to advise management in connection with the remediation of the material weakness.

While our remediation efforts are expected to continue throughout Fiscal 2026, we believe the measures described above will contribute toward the remediation of the control deficiencies we have identified and strengthen our internal control over financial reporting. We are committed to improving our internal control over financial reporting and will continue to review, optimize and enhance our controls and procedures. As we evaluate and work to improve our internal control over financial reporting, we may take additional measures to address control deficiencies, or we may modify certain remediation measures described above. This material weakness will not be considered remediated until the applicable controls operate for a sufficient period of time and management has concluded, through testing, that these controls operate effectively. We expect that the material weakness will be remediated by the end of Fiscal 2026.

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Table of Contents            

Changes in Internal Control Over Financial Reporting

As described above, there were changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) that occurred during the quarter ended September 30, 2025 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

From time to time, we have been involved in litigation and other proceedings, including matters related to commercial