# EDGAR Filing Document

**Accession Number:** 0001336917
**File Stem:** 0000947871-25-001099
**Filing Date:** 2025-12
**Character Count:** 13561
**Document Hash:** 60acbeee4bf4f003684111ef612a8689
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000947871-25-001099.hdr.sgml**: 20251229

**ACCESSION NUMBER**: 0000947871-25-001099

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251222

**FILED AS OF DATE**: 20251229

**DATE AS OF CHANGE**: 20251229

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** FAIRFAX FINANCIAL HOLDINGS LTD/ CAN
- **CENTRAL INDEX KEY:** 0000915191
- **STANDARD INDUSTRIAL CLASSIFICATION:** FIRE, MARINE & CASUALTY INSURANCE [6331]
- **ORGANIZATION NAME:** 02 Finance
- **STATE OF INCORPORATION:** Z4
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-33202
- **FILM NUMBER:** 251610936

**BUSINESS ADDRESS:**
- **STREET 1:** FAIRFAX FINANCIAL HOLDINGS LTD
- **STREET 2:** 95 WELLINGTON ST WEST STE 800
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5J 2N7
- **BUSINESS PHONE:** 4163674941

**MAIL ADDRESS:**
- **STREET 1:** FAIRFAX FINANCIAL HOLDINGS LTD
- **STREET 2:** 95 WELLINGTON ST WEST STE 800
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5J 2N7

**FORMER NAME:**
- **FORMER CONFORMED NAME:** FAIRFAX FINANCIAL HOLDINGS LTD
- **DATE OF NAME CHANGE:** 19931122
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** WATSA V PREM ET AL
- **CENTRAL INDEX KEY:** 0000938869

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-33202
- **FILM NUMBER:** 251610937

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 95 WELLINGTON STREET WEST
- **STREET 2:** SUITE 800
- **CITY:** TORONTO
- **PROVINCE COUNTRY:** A6
- **ZIP:** M5J 2N7
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Under Armour, Inc.
- **CENTRAL INDEX KEY:** 0001336917
- **STANDARD INDUSTRIAL CLASSIFICATION:** APPAREL & OTHER FINISHED PRODS OF FABRICS & SIMILAR MATERIAL [2300]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 521990078
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0331

**BUSINESS ADDRESS:**
- **STREET 1:** 101 PERFORMANCE DRIVE
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21230
- **BUSINESS PHONE:** 410-454-6758

**MAIL ADDRESS:**
- **STREET 1:** 101 PERFORMANCE DRIVE
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21230

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>WATSA V PREM ET AL<br><sub>(Last) (First) (Middle)</sub><br>95 WELLINGTON STREET WEST SUITE 800<br><sub>(Street)</sub><br>TORONTO, A6 M5J 2N7<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-12-22 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Under Armour, Inc. [ UA ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>FAIRFAX FINANCIAL HOLDINGS LTD/ CAN<br><sub>(Last) (First) (Middle)</sub><br>95 WELLINGTON STREET WEST SUITE 800<br><sub>(Street)</sub><br>TORONTO, A6 M5J 2N7<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-12-22 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Under Armour, Inc. [ UA ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Class A Common Shares | 2025-12-22 |  | P |  | 5383513 | A | 4.5285<sup>(1)</sup> | 24691049 | I | See Footnote<sup>(3)</sup> |
| Class C Common Shares | 2025-12-22 |  | P |  | 2355641 | A | 4.3562<sup>(2)</sup> | 5599950 | I | See Footnote<sup>(3)</sup> |
| Class A Common Shares | 2025-12-23 |  | P |  | 2124452 | A | 4.5443<sup>(4)</sup> | 26815501 | I | See Footnote<sup>(3)</sup> |
| Class C Common Shares | 2025-12-23 |  | P |  | 620801 | A | 4.3765<sup>(5)</sup> | 6220751 | I | See Footnote<sup>(3)</sup> |
| Class A Common Shares | 2025-12-24 |  | P |  | 875548 | A | 4.6238<sup>(6)</sup> | 27691049 | I | See Footnote<sup>(3)</sup> |
| Class C Common Shares | 2025-12-24 |  | P |  | 438333 | A | 4.3970<sup>(7)</sup> | 6659084 | I | See Footnote<sup>(3)</sup> |
| Class A Common Shares | 2025-12-26 |  | P |  | 1000000 | A | 4.6384<sup>(8)</sup> | 28691049 | I | See Footnote<sup>(3)</sup> |
| Class C Common Shares | 2025-12-26 |  | P |  | 385850 | A | 4.4200<sup>(9)</sup> | 7044934 | I | See Footnote<sup>(3)</sup> |
| Class A Common Shares | 2025-12-29 |  | P |  | 1763396 | A | 4.7315<sup>(10)</sup> | 30454445 | I | See Footnote<sup>(3)</sup> |
| Class C Common Shares | 2025-12-29 |  | P |  | 734430 | A | 4.4776<sup>(11)</sup> | 7779364 | I | See Footnote<sup>(3)</sup> |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

---

### Footnotes:

(1) Represents the weighted average price of the Class A Common Shares purchased on December 22, 2025, ranging from a low of $4.4599 to a high of $4.6000 per share. The Reporting Persons undertake, upon request by the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer to provide full information regarding the number of shares purchased at each separate price.

(2) Represents the weighted average price of the Class C Common Shares purchased on December 22, 2025, ranging from a low of $4.2850 to a high of $4.4000 per share. The Reporting Persons undertake, upon request by the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer to provide full information regarding the number of shares purchased at each separate price.

(3) These securities are held by wholly-owned subsidiaries of Fairfax Financial Holdings Limited. Mr. Watsa is the Chief Executive Officer and controlling person of Fairfax Financial Holdings Limited through certain holding companies he controls, including The Second 810 Holdco Ltd, The Second 1109 Holdco Ltd, The Sixty Two Investment Company Limited and 12002574 Canada Inc. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Exchange Act, except to the extent of its or his pecuniary interest therein, if any. This report shall not be deemed an admission that any of the Reporting Persons is a beneficial owner for the purpose of Section 16 of the Exchange Act, or for any other purpose.

(4) Represents the weighted average price of the Class A Common Shares purchased on December 23, 2025, ranging from a low of $4.5150 to a high of $4.5500 per share. The Reporting Persons undertake, upon request by the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer to provide full information regarding the number of shares purchased at each separate price.

(5) Represents the weighted average price of the Class C Common Shares purchased on December 23, 2025, ranging from a low of $4.3550 to a high of $4.3900 per share. The Reporting Persons undertake, upon request by the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer to provide full information regarding the number of shares purchased at each separate price.

(6) Represents the weighted average price of the Class A Common Shares purchased on December 24, 2025, ranging from a low of $4.5800 to a high of $4.6500 per share. The Reporting Persons undertake, upon request by the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer to provide full information regarding the number of shares purchased at each separate price.

(7) Represents the weighted average price of the Class C Common Shares purchased on December 24, 2025, ranging from a low of $4.3600 to a high of $4.4000 per share. The Reporting Persons undertake, upon request by the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer to provide full information regarding the number of shares purchased at each separate price.

(8) Represents the weighted average price of the Class A Common Shares purchased on December 26, 2025, ranging from a low of $4.6050 to a high of $4.6700 per share. The Reporting Persons undertake, upon request by the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer to provide full information regarding the number of shares purchased at each separate price.

(9) Represents the weighted average price of the Class C Common Shares purchased on December 26, 2025, ranging from a low of $4.3912 to a high of $4.4300 per share. The Reporting Persons undertake, upon request by the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer to provide full information regarding the number of shares purchased at each separate price.

(10) Represents the weighted average price of the Class A Common Shares purchased on December 29, 2025, ranging from a low of $4.6500 to a high of $4.7700 per share. The Reporting Persons undertake, upon request by the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer to provide full information regarding the number of shares purchased at each separate price.

(11) Represents the weighted average price of the Class C Common Shares purchased on December 29, 2025, ranging from a low of $4.4000 to a high of $4.5400 per share. The Reporting Persons undertake, upon request by the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer to provide full information regarding the number of shares purchased at each separate price.

**Signature:** /s/ V. Prem Watsa  
**Date:** 2025-12-29

**Signature:** /s/ Peter Clarke, President and Chief Operating Officer, on behalf of Fairfax Financial Holdings Limited  
**Date:** 2025-12-29

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**