Form 4: Under Armour CFO Adjusts Stock Holdings, Corrects Prior Filing Error

Under Armour's Chief Financial Officer, David Bergman, reported a disposition of Class C Common Stock, primarily for tax purposes, and corrected a clerical error from a previous filing that understated his Class C holdings.

Summary

• David Bergman, Chief Financial Officer of Under Armour, Inc. (UA), filed a Form 4 with the SEC.
• The filing reports a transaction that occurred on June 3, 2025.
• Mr. Bergman disposed of 33,181 shares of Class C Common Stock, indicated by transaction code 'F' and a $0 price, which typically signifies shares withheld for tax obligations related to equity compensation.
• Following this transaction, Mr. Bergman directly beneficially owns 536,526 shares of Class C Common Stock and 26,835 shares of Class A Common Stock.
• The reported direct holdings of Class C Common Stock have been adjusted to correct a clerical error from a previous Form 4 filing, which had understated his holdings by 2,507 shares.

Sentiment

Score: 5

Explanation: The filing reports a routine insider transaction for tax purposes and a clerical correction, neither of which significantly alters the company's fundamental outlook or indicates a material change in business operations.

Positives

• The correction of a clerical error enhances the accuracy and transparency of insider ownership reporting.
• The filing clarifies the true beneficial ownership of Class C Common Stock by the CFO.

Negatives

• The disposition of 33,181 shares of Class C Common Stock reduces the direct beneficial ownership of the CFO, although this is a common practice for tax purposes.

Future Outlook

The document does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Management Comments

• David Bergman's direct holdings of Class C Common Stock have been adjusted to correct a clerical error made on a previous Form 4 filing, which had understated his holdings by 2,507 shares.

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction, common for executives managing their equity compensation and tax obligations. It does not provide insights into broader industry trends or competitive dynamics within the athletic apparel and footwear sector.

Stakeholder Impact

• Shareholders: The correction of a clerical error enhances transparency and accuracy of insider ownership data, providing a more precise view of the CFO's holdings.
• Shareholders: The disposition of shares for tax purposes is a common practice and does not typically indicate a change in management's confidence in the company, thus having minimal impact on shareholder sentiment.

Key Dates

Recommendation

Keywords

Under Armour, UA, Form 4, Insider Transaction, David Bergman, Chief Financial Officer, Stock Holdings, Beneficial Ownership, SEC Filing, Class C Common Stock, Class A Common Stock