Form 4: Under Armour Director Receives Annual Stock Grant

Under Armour Director Jerri DeVard acquired 30,674.85 shares of Class C Common Stock as part of her annual compensation plan.

Summary

• Jerri DeVard, a Director of Under Armour, Inc., reported changes in her beneficial ownership of company stock.
• On September 3, 2025, Ms. DeVard acquired 30,674.85 shares of Class C Common Stock at a price of $0 per share.
• This acquisition represents an annual restricted stock unit grant under the Under Armour, Inc. Fiscal Year 2025 Non-Employee Director Compensation Plan.
• Following this transaction, Ms. DeVard beneficially owns 167,994.88 shares of Class C Common Stock.
• Additionally, 1,200 shares of Class A Common Stock were disposed of on September 3, 2025.

Sentiment

Score: 7

Explanation: The filing reports a routine annual equity grant to a director, which is a standard practice for aligning management and director interests with shareholders. The disposition of Class A shares is not fully explained but is a minor event.

Positives

• A director received an annual equity grant, aligning their interests with shareholders.
• The grant of 30,674.85 shares of Class C Common Stock at $0 indicates compensation in equity, a common practice for non-employee directors.

Negatives

• The filing indicates a disposition of 1,200 shares of Class A Common Stock, the specific reason for which is not detailed in the transaction table, though it could be for tax purposes.

Future Outlook

This Form 4 does not contain forward-looking statements or guidance.

Industry Context

The practice of compensating non-employee directors with equity, such as restricted stock units, is a standard corporate governance practice across various industries, including the apparel and footwear sector where Under Armour operates. This aligns director incentives with long-term shareholder value.

Comparison to Industry Standards

• The grant of restricted stock units to non-employee directors is a common compensation method in publicly traded companies, including peers in the athletic apparel industry like Nike (NKE) and Adidas (ADDYY).
• While the specific number of shares varies based on company size, director responsibilities, and compensation philosophy, the mechanism itself is standard. Without specific compensation plan details for comparable companies, a direct quantitative comparison of the grant value is not feasible from this filing alone.

Corporate Governance

Related Party Transactions

• The acquisition of 30,674.85 shares of Class C Common Stock by Jerri DeVard is a related party transaction, as she is a director of Under Armour, Inc., and it is part of her approved compensation plan.

Stakeholder Impact

• Shareholders: The equity grant aligns the director's interests with long-term shareholder value. The disposition of Class A shares is a minor event and unlikely to significantly impact shareholders.
• Directors: The filing confirms the compensation structure for non-employee directors, providing clarity on how directors are incentivized.

Key Dates

Recommendation

This Form 4 filing details a routine annual equity grant to a director and a minor disposition of shares. It does not contain any new information regarding the company's financial performance, strategic direction, or significant operational changes that would warrant a change in investment recommendation. It's a standard compliance filing.

Keywords

Under Armour, UA, Jerri DeVard, Director Compensation, Restricted Stock Unit, Insider Transaction, Form 4, Equity Grant, Class C Common Stock, Class A Common Stock