[Form 4] Under Armour, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Eric T. Olson, a director of Under Armour, Inc. (UAA), reported changes in his beneficial ownership on 09/03/2025. The filing shows an annual restricted stock unit grant under the Fiscal Year 2025 Non-Employee Director Compensation Plan: 30,674.85 Class C common stock units were acquired at $0, and his beneficial ownership of Class C shares following the transaction is reported as 187,267.48 shares. The form also reports a disposition of 13,758.15 Class A common shares on the same date. The Form 4 was signed by an attorney-in-fact on 09/05/2025 and includes Exhibit 24 (Power of Attorney).

Positive

• Received 30,674.85 Class C restricted stock units under the Fiscal Year 2025 Non-Employee Director Compensation Plan, aligning the director with shareholders

Negative

• Disposition of 13,758.15 Class A common shares reported on the same date, which reduces direct holdings in that share class

Insights

Corporate Governance Expert

TL;DR: Routine director compensation with an RSU grant and a reported Class A share disposition; not surprising for a non-employee director.

The filing documents an annual restricted stock unit award to a non-employee director, which is a common mechanism to align board members with shareholder interests. The acquisition of 30,674.85 Class C units at no cash outlay reflects typical equity-based compensation for directors. The reported disposition of 13,758.15 Class A shares is disclosed but not explained in the filing; such dispositions can be routine and may reflect portfolio rebalancing or plan-specified sales. No indications of unusual related-party transactions or governance issues are present in the text provided.

Securities Analyst

TL;DR: Transaction is primarily compensation-driven; changes are modest relative to public float and present limited immediate market impact.

The Form 4 shows an equity grant as compensation and a contemporaneous disposition of a separate share class. The grant increases reported beneficial ownership in Class C to 187,267.48 shares, which may modestly increase the director's alignment with equity performance. The document provides transaction counts and classes but no price information for the Class A disposition, limiting assessment of proceeds or tax implications. Overall, the filing appears routine and unlikely to be material to valuation absent further context.

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
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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^*

Olson Eric T

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/03/2025

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

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(1)	09/03/2025		A		30,674.85	A	$0	187,267.48	D
Class A Common Stock								13,758.15	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. Annual restricted stock unit grant pursuant to the Under Armour, Inc. Fiscal Year 2025 Non-Employee Director Compensation Plan.

Remarks:

Exhibit List Exhibit 24 - Power of Attorney.

	/s/ Mehri F. Shadman, Attorney-in-Fact for Eric T. Olson	09/05/2025
	** 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.
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FAQ

What did Under Armour director Eric T. Olson report on Form 4 (UAA)?

On 09/03/2025 Eric T. Olson reported the acquisition of 30,674.85 Class C restricted stock units and a disposition of 13,758.15 Class A shares.

Was the grant described in the Form 4 a one-time award or part of a plan (UAA)?

The filing states the acquisition was an annual restricted stock unit grant pursuant to the Under Armour, Inc. Fiscal Year 2025 Non-Employee Director Compensation Plan.

What is the reported beneficial ownership after the transaction (UAA)?

The Form 4 reports 187,267.48 Class C shares beneficially owned following the reported acquisition.

When was the Form 4 signed and who signed it (UAA)?

The form was signed by Mehri F. Shadman, Attorney-in-Fact for Eric T. Olson on 09/05/2025 and includes Exhibit 24 (Power of Attorney).

Does the Form 4 disclose the cash price paid for the RSU grant (UAA)?

The acquisition of the Class C restricted stock units is reported with a price of $0, consistent with equity awards issued as compensation.