Form 4: Fairfax Financial Boosts Under Armour Stake

Fairfax Financial Holdings and Prem Watsa increased their beneficial ownership in Under Armour Class A and Class C common shares through multiple purchases in late January 2026.

Summary

• Prem Watsa and Fairfax Financial Holdings, both 10% owners and directors of Under Armour, Inc., acquired additional shares.
• On January 27, 2026, 842,481 Class C Common Shares were purchased at a weighted average price of $6.1959 per share, with prices ranging from $6.175 to $6.200.
• On January 27, 2026, 686,505 Class A Common Shares were purchased at a weighted average price of $6.2974 per share, with prices ranging from $6.280 to $6.300.
• On January 28, 2026, 1,022,333 Class C Common Shares were purchased at a weighted average price of $6.1992 per share, with prices ranging from $6.185 to $6.200.
• On January 28, 2026, 89,786 Class A Common Shares were purchased at a weighted average price of $6.2921 per share, with prices ranging from $6.285 to $6.300.
• Following these transactions, the reporting persons indirectly own 21,999,128 Class C Common Shares and 43,000,872 Class A Common Shares.
• The acquired securities are held by wholly-owned subsidiaries of Fairfax Financial Holdings Limited, with Prem Watsa serving as the Chief Executive Officer and controlling person of Fairfax.

Sentiment

Score: 8

Explanation: StockSavvy.ai views this as a strong positive signal, as substantial insider buying by a controlling shareholder and director typically reflects high confidence in the company's prospects and potential for share price appreciation.

Positives

• Significant insider buying by a 10% owner and director, Prem Watsa and Fairfax Financial Holdings, indicates strong confidence in Under Armour's future prospects.
• The purchases involved substantial amounts of both Class A and Class C common shares, totaling over 2.6 million shares across two days, suggesting a conviction in the company's valuation.

Industry Context

StockSavvy.ai notes that significant insider purchases, especially by a major shareholder and director like Fairfax Financial and Prem Watsa, often signal a strong belief in the company's undervalued status or upcoming positive developments, potentially differentiating Under Armour from competitors facing broader retail headwinds.

Related Party Transactions

• Fairfax Financial Holdings Limited, controlled by Prem Watsa, acquired shares in Under Armour, where Prem Watsa also serves as a director and Fairfax is a 10% owner. These transactions are considered related party dealings due to the intertwined relationships.

Stakeholder Impact

• Shareholders: Potential positive impact due to increased confidence from significant insider buying, which could lead to upward pressure on the share price.

Key Dates

Recommendation

The substantial insider buying by a major shareholder and director, Prem Watsa and Fairfax Financial Holdings, suggests a strong belief in the company's intrinsic value and future growth potential. This action by informed insiders often precedes positive company developments or a re-rating of the stock, making it an attractive buying opportunity for investors.

Keywords

Under Armour, UA, Fairfax Financial Holdings, Prem Watsa, Insider Buying, Form 4, Beneficial Ownership, Equity Purchase, Class A Shares, Class C Shares