Form 4: Under Armour Director Receives Annual Stock Grant

Under Armour Director Douglas E. Coltharp was granted 30,674.85 shares of Class C Common Stock as part of his annual compensation.

Summary

• Douglas E. Coltharp, a Director of Under Armour, Inc., acquired 30,674.85 shares of Class C Common Stock on September 3, 2025.
• The acquisition was an annual restricted stock unit grant under the Under Armour, Inc. Fiscal Year 2025 Non-Employee Director Compensation Plan, with a transaction price of $0 per share.
• Following this transaction, Mr. Coltharp directly owns 297,002.03 shares of Class C Common Stock and 54,820.24 shares of Class A Common Stock.
• Indirect holdings include Class C and Class A Common Stock through The Catherine Inzer Coltharp 2021 Trust, Douglas Edward Coltharp Irrevocable Trust UAD 10/28/2020, and UTMA accounts for children.

Sentiment

Score: 6

Explanation: The sentiment is moderately positive. While a routine compensation event, the acquisition of shares by a director aligns their interests with shareholders and indicates continued commitment to the company. It is not a significant market-moving event but is a positive signal of insider ownership.

Positives

• The grant aligns the director's interests with those of shareholders, as his compensation is tied to the company's equity performance.
• The transaction represents a standard component of non-employee director compensation, indicating continuity in governance practices.

Future Outlook

The filing does not contain specific forward-looking statements or guidance beyond the nature of the annual restricted stock unit grant.

Industry Context

This transaction is a routine disclosure of insider holdings and compensation, common across publicly traded companies where non-employee directors receive equity as part of their remuneration. It reflects standard corporate governance practices in the apparel and footwear industry.

Comparison to Industry Standards

• The grant of restricted stock units (RSUs) as part of non-employee director compensation is a common practice among S&P 500 companies, including peers in the athletic apparel sector like Nike (NKE) and Adidas (ADDYY), which often use equity to align director incentives with long-term shareholder value.
• A transaction price of $0 for an RSU grant is standard, as these units typically vest over time and represent a form of deferred compensation rather than an open market purchase.

Corporate Governance

Related Party Transactions

• The restricted stock unit grant to Director Douglas E. Coltharp is a related party transaction, as it involves compensation from the company to a member of its board of directors. This is a standard and disclosed practice under the company's compensation plan.

Stakeholder Impact

• Shareholders: The grant increases director ownership, potentially aligning management and shareholder interests more closely. It is a non-dilutive event in itself, but the underlying shares will be issued from the company's authorized pool.
• Employees: No direct impact mentioned.
• Customers: No direct impact mentioned.
• Suppliers: No direct impact mentioned.
• Creditors: No direct impact mentioned.

Key Dates

Recommendation

This Form 4 filing details a routine annual restricted stock unit grant to a non-employee director. While it indicates continued insider ownership and alignment of interests, it does not present new financial performance data, strategic shifts, or material events that would warrant a change in an investment recommendation based solely on this disclosure. It is a standard compensation event and does not provide a basis for a 'buy' or 'sell' decision.

Keywords

Under Armour, UA, SEC Form 4, Insider Trading, Director Compensation, Restricted Stock Unit, Equity Grant, Class C Common Stock, Corporate Governance