Company: UAA
Filing Date: 2025-06-26
Form Type: DEF 14A
Source: 0001336917-25-000112
Chunk: 30

Company: Under Armour, Inc.
Filing Date: 2025-06-26
Form: DEF 14A
Chunk 30
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 individual performance factor                                                                                                                                    |     |                     |
|         |     | Equity Awards                |     |                      |     | Directly link the interests of executives with stockholders, promote retention and reward strong performance to create long-term stockholder value |     |         |     | Reflects a combination of time based and performance based restricted stock units with the value of the awards directly tied to our stock price                                                                                                      
 Time based awards vest in three equal annual installments                                                                                                                                                                                            
 Performance based awards vest only upon achievement of currency neutral net revenue and adjusted operating income targets; if achieved, these awards vest in three equal annual installments beginning at the end of the one-year performance period |     |                     |

As discussed further throughout this discussion and analysis, the fiscal year 2025 compensation package for our President and Chief Executive Officer consisted of a base salary, a performance based award vesting in certain annual increments only upon achievement of a share-price hurdle and a time based award vesting in three equal annual installments. As our founder and majority stockholder, tying the majority of Mr. Plank’s compensation solely to achievement of a significant share price increase represents his commitment to the performance and growth of our business and provides further alignment with the interests of our stockholders.

We offer limited benefits and perquisites to our executives and do not offer pension or other retirement plans, other than a 401(k) plan that is offered to our employees generally and a deferred compensation plan pursuant to which executives may defer certain compensation; however, we did not make any company contributions to this plan in fiscal year 2025 for any executive officers. See “—Benefits and Perquisites” below. Our annual equity awards include provisions allowing the acceleration of all or a portion of unvested amounts upon retirement for employees that meet certain criteria based on age and years of service. None of our named executive officers currently meet these retirement eligibility criteria.

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Compensation Decision-Making Process

Human Capital and Compensation Committee review process

In early 2024, the Human Capital and Compensation Committee engaged the services of Willis Towers Watson (“WTW”) to provide executive compensation consulting services. The committee obtained from WTW competitive market data on compensation for executives to generally assess the competitiveness of our executive compensation. The competitive market data was based on a peer group and published industry survey data from WTW’s General Industry Executive Compensation and Retail/Wholesale Executive Compensation, among other surveys. The peer group was developed by management based on publicly traded companies within the apparel and