Company: UAA
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001336917-25-000198
Chunk: 106

Company: Under Armour, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 106
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 to time, issue deferred stock units or restricted stock units to certain of our marketing and other partners in connection with their entering into endorsement or other service agreements with the Company. The terms of each agreement set forth the number of units to be granted and the delivery dates for the shares, which range over a multi-year period, depending on the contract. Total stock-based compensation expense related to these awards for the three and six months ended September 30, 2025 was $1.6 million and $3.4 million, respectively (three and six months ended September 30, 2024: $1.8 million and $3.7 million, respectively). As of September 30, 2025, the Company had $61.4 million of unrecognized compensation expense associated with these awards expected to be recognized over a weighted average period of 8.90 years.

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Summary by Award Classification:Stock OptionsA summary of the Company's stock options activity for the six months ended September 30, 2025 is presented below:Number of StockOptionsWeighted AverageExercisePriceWeighted AverageRemaining ContractualLife (Years)Total IntrinsicValueOutstanding as of March 31, 20251,356 $16.68 3.31$— Granted, at fair market value150 6.20 9.63Exercised— — — Forfeited or expired— — — Outstanding as of September 30, 20251,506 $15.63 3.49$— Exercisable as of September 30, 20251,356 $16.68 2.81$— The Company uses the Black-Scholes option-pricing model to estimate the fair market value of stock option awards. The expected life of options is calculated using the "simplified method", which is equal to the time from grant to the midpoint between the vesting date and contractual term, taking into account all vesting tranches. The risk free interest rate is based on the yield for the U.S. Treasury bill with a maturity equal to the expected life of the stock option. Expected volatility is based on the Company's historical average.The following table summarizes the weighted-average fair value of options granted and weighted-average assumptions used. No options were granted during the three months ended September 30, 2025 or during the three and six months ended September 30, 2024.Six Months Ended September 30, 2025Weight