UA Insider Grant: 465,996 Total Shares Held After Filing Correction

Rhea-AI Filing Summary

Under Armour, Inc. (NYSE: UA/UAA) – Amended Form 4 filing discloses that Chief Product Officer Yassine Saidi received two performance-based equity grants of the company’s Class C common stock.

• 05/05/2025: 98,451 Class C shares awarded at an accounting price of $0.
• 05/15/2025: 201,613 Class C shares awarded at an accounting price of $0.

The transactions raise Saidi’s directly held Class C position to 465,996 shares. No Class A stock is owned.

The award stems from 2024 performance-based restricted stock units (PSUs). Following fiscal-year-2025 performance, the PSUs will vest in three equal tranches on June 3, 2025; May 15, 2026; and May 15, 2027.

This filing corrects a prior Form 4 submitted on 05/19/2025 that understated the share count related to the PSU award. All shares were acquired from the company rather than through open-market purchases, so no cash changed hands and there is no immediate revenue impact to the issuer.

Insights

Financial Analyst

TL;DR: Insider receives PSU grant; alignment positive but immaterial to valuation.

The amended Form 4 clarifies the exact number of Class C shares granted to Chief Product Officer Yassine Saidi. Because the equity was awarded at $0 under a 2024 performance plan, the transaction does not involve cash, affect free cash flow, or indicate insider sentiment via open-market buying. Nonetheless, cumulative direct ownership of nearly 466k shares modestly increases management’s economic stake, improving alignment with shareholders. The correction removes uncertainty from the original misreported filing but carries no material earnings or balance-sheet implications. Overall impact on valuation or near-term trading is negligible.

Corporate Governance Specialist

TL;DR: Administrative clean-up; shows compliance, limited governance impact.

The company promptly amended its May 19 filing, demonstrating sound Section 16 compliance practices. Vesting dates extend over three years, promoting retention of a key product executive. Because the grant follows a pre-established PSU program and no 10b5-1 trading plan is invoked, governance risk remains low. No red flags such as large discretionary cash bonuses or accelerated vesting are observed. From a governance standpoint the event is routine and not expected to influence proxy advisory recommendations.

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Saidi Yassine

(Last) (First) (Middle)

101 PERFORMANCE DRIVE

(Street)

BALTIMORE MD 21230

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
05/05/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)
05/19/2025

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

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

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class C Common Stock	05/05/2025(1)		A		98,451(2)	A	$0	264,383	D
Class C Common Stock	05/15/2025		A		201,613	A	$0	465,996	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. In 2024, the reporting person was granted performance based restricted stock units tied to performance of the Company in its fiscal year 2025. Based on the performance of the Company, the award will now vest in three equal annual installments on June 3, 2025, May 15, 2026 and May 15, 2027.

2. This Form 4 corrects the Form 4 filed on May 19, 2025, which incorrectly reported the number of shares awarded pursuant to the performance based restricted stock units granted to the reporting person in 2024.

Remarks:

No Class A Common Stock (UAA) is beneficially owned.

	/s/ Mehri F. Shadman, Attorney-in-Fact for Yassine Saidi	06/20/2025
	** 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 4 (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

How many Under Armour (UA) shares did Yassine Saidi acquire in the amended Form 4?

A total of 300,064 Class C shares were awarded (98,451 on 05/05/2025 and 201,613 on 05/15/2025).

What is Saidi’s total beneficial ownership after the transactions?

He now directly owns 465,996 Class C shares and no Class A shares.

Were the shares purchased on the open market?

No. The shares were granted at $0 under performance-based restricted stock units; no cash transaction occurred.

Why was this Form 4 amended?

It corrects the 05/19/2025 filing that misstated the number of shares awarded under the 2024 PSU grant.

When will the performance stock units vest?

The PSUs vest in three equal installments on June 3, 2025; May 15, 2026; and May 15, 2027.