Company: UAA
Filing Date: 2025-06-26
Form Type: DEF 14A
Source: 0001336917-25-000112
Chunk: 41

Company: Under Armour, Inc.
Filing Date: 2025-06-26
Form: DEF 14A
Chunk 41
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 of our fiscal year 2026 compensation program, specifically the financial targets for our annual cash incentive award. The committee expects to consider these elements of our compensation program during the second quarter of fiscal year 2026. In addition, due to these uncertainties, the committee determined to deviate from its historical practice of granting 50% performance based equity awards in connection with our annual equity award program and granted only time based restricted stock unit awards to our executive officers other than our Chief Executive Officer. These awards will vest in three equal annual installments beginning in May 2026. With respect to our President and Chief Executive Officer, the committee granted a fiscal year 2026 performance based award similar to the award granted in fiscal year 2025, which is eligible to vest in certain annual increments only upon achievement of a share-price hurdle.

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As discussed further in our Annual Report on Form 10-K for the fiscal year ended March 31, 2025, on June 20, 2024, our company entered into a settlement agreement resolving a securities class action lawsuit. Under the terms of the settlement, we agreed to a non-monetary provision restricting our ability to grant time based restricted stock or restricted stock units to our Chief Executive Officer, Chief Financial Officer and Chief Legal Officer for a three-year period. Given the uncertainty regarding the global trade environment and potential impacts on our results of operations, as well as the committee’s decision to not grant our named executive officers (other than our Chief Executive Officer) performance based equity awards, in May 2025 the committee granted our Chief Financial Officer a restricted cash award in lieu of an annual equity award for fiscal year 2026 valued at the same amount that the grant date fair value of his annual equity award would have been. The award will vest in three equal annual installments beginning in May 2026. Amounts are not subject to any adjustment based on our performance or our stock price. With respect to our President and Chief Executive Officer, the committee granted time based stock options in lieu of the time based equity award granted in fiscal year 2025, which the committee determined would further incentivize Mr. Plank to drive long-term stockholder value as the options only have value to the extent our stock price increased over the price on the grant date.

With respect to the fiscal year 2026 cash compensation of our President and Chief Executive Officer, while the Human Capital and Compensation Committee decided to maintain Mr. Plank’s fiscal year 2025 salary for