Under Armour (NYSE: UA) director Prem Watsa reports large indirect stake

Rhea-AI Filing Summary

Under Armour director V. Prem Watsa has filed an initial ownership report showing substantial indirect stakes in the company. The filing lists 19,307,536 Class A common shares and 3,244,309 Class C common shares of Under Armour, Inc. held indirectly through wholly owned subsidiaries of Fairfax Financial Holdings Limited, where Mr. Watsa serves as Chief Executive Officer and controlling person through various holding companies. The reporting persons state that they disclaim beneficial ownership of these securities except to the extent of any pecuniary interest.

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

WATSA V PREM ET AL

(Last) (First) (Middle)

95 WELLINGTON STREET WEST, SUITE 800

(Street)

TORONTO A6 A6 M5J 2N7

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
12/22/2025

3. Issuer Name and Ticker or Trading Symbol
Under Armour, Inc. [ UA ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A Common Shares	19,307,536	I	See Footnote(1)
Class C Common Shares	3,244,309	I	See Footnote(1)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

WATSA V PREM ET AL

(Last) (First) (Middle)

95 WELLINGTON STREET WEST, SUITE 800

(Street)

TORONTO A6 A6 M5J 2N7

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

FAIRFAX FINANCIAL HOLDINGS LTD/ CAN

(Last) (First) (Middle)

95 WELLINGTON STREET WEST, SUITE 800

(Street)

TORONTO A6 A6 M5J 2N7

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. 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.

	/s/ V. Prem Watsa	12/29/2025
	/s/ Peter Clarke, President and Chief Operating Officer, on behalf of Fairfax Financial Holdings Limited	12/29/2025
	** Signature of Reporting Person	Date
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 5 (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.

FAQ

What insider ownership in Under Armour (UA) did Prem Watsa report?

The filing reports that V. Prem Watsa has indirect beneficial ownership of 19,307,536 Class A common shares and 3,244,309 Class C common shares of Under Armour, Inc.

How does Prem Watsa hold his Under Armour (UA) shares?

The shares are held by wholly owned subsidiaries of Fairfax Financial Holdings Limited, where Mr. Watsa is Chief Executive Officer and controlling person through several holding companies.

What is Prem Watsa’s relationship to Under Armour (UA)?

The form identifies the reporting person’s relationship to Under Armour, Inc. as a Director.

Does the filing claim full beneficial ownership of the Under Armour shares?

The reporting persons disclaim beneficial ownership of the securities reported, except to the extent of their pecuniary interest in them, if any.

What is the event date for this Under Armour (UA) ownership report?

The date of the event requiring the statement is listed as 12/22/2025.

Which entity is associated with Prem Watsa in this Under Armour (UA) filing?

The securities are held by subsidiaries of Fairfax Financial Holdings Limited, where Mr. Watsa is the Chief Executive Officer and controlling person.