Under Armour Board Shakeup: Plank New Chair, El-Erian Lead Director
Ticker: UA · Form: 8-K · Filed: Aug 6, 2024 · CIK: 1336917
| Field | Detail |
|---|---|
| Company | Under Armour, Inc. (UA) |
| Form Type | 8-K |
| Filed Date | Aug 6, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-of-directors, leadership-change, governance
TL;DR
UA board reshuffled: Plank is Chairman, El-Erian is Lead Independent Director. Big moves.
AI Summary
Under Armour, Inc. announced on August 6, 2024, changes to its Board of Directors. Specifically, Kevin Plank has been appointed as the new Chairman of the Board, and Mohamed El-Erian has been appointed as the Lead Independent Director. These appointments are effective immediately.
Why It Matters
Changes in board leadership can signal shifts in strategic direction and governance, potentially impacting investor confidence and the company's future performance.
Risk Assessment
Risk Level: medium — Board changes can introduce uncertainty regarding future strategy and execution, though the appointment of experienced individuals may mitigate some risks.
Key Players & Entities
- Under Armour, Inc. (company) — The reporting company
- Kevin Plank (person) — Appointed Chairman of the Board
- Mohamed El-Erian (person) — Appointed Lead Independent Director
- August 6, 2024 (date) — Effective date of board changes
FAQ
Who has been appointed as the new Chairman of the Board of Directors for Under Armour?
Kevin Plank has been appointed as the new Chairman of the Board of Directors for Under Armour.
Who has been appointed as the Lead Independent Director?
Mohamed El-Erian has been appointed as the Lead Independent Director.
What is the effective date of these board appointments?
The appointments are effective immediately as of August 6, 2024.
What specific items are being reported under the 8-K filing?
The filing reports on the Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers; Other Events; and Financial Statements and Exhibits.
What is Under Armour's Standard Industrial Classification code?
Under Armour's Standard Industrial Classification code is 2300, for APPAREL & OTHER FINISHED PRODS OF FABRICS & SIMILAR MATERIAL.
Filing Stats: 741 words · 3 min read · ~2 pages · Grade level 11.6 · Accepted 2024-08-06 08:32:23
Filing Documents
- ua-20240806.htm (8-K) — 30KB
- exhibit991-august62024.htm (EX-99.1) — 14KB
- ualogo013117a01.jpg (GRAPHIC) — 12KB
- 0001336917-24-000110.txt ( ) — 225KB
- ua-20240806.xsd (EX-101.SCH) — 2KB
- ua-20240806_def.xml (EX-101.DEF) — 15KB
- ua-20240806_lab.xml (EX-101.LAB) — 26KB
- ua-20240806_pre.xml (EX-101.PRE) — 16KB
- ua-20240806_htm.xml (XML) — 4KB
01. Other Events
Item 8.01. Other Events. On August 6, 2024, the Company announced that Eric Liedtke will join the Company as Executive Vice President, Brand Strategy, effective following the completion of the Company's acquisition of UNLESS COLLECTIVE, INC, a zero-plastic regenerative fashion brand co-founded by Mr. Liedtke. The transaction is expected to be completed in the second quarter of fiscal year 2025. A copy of the Company's press release announcing Mr. Liedtke's appointment is attached hereto as Exhibit 99.1. Some of the statements contained in this Current Report on Form 8-K constitute forward-looking statements. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts, such as statements in this report regarding the expected timing of the completion of the transaction. The forward-looking statements in this report reflect the Company's current views and assumptions, as of the date of this report, about future events. They are subject to risks, uncertainties, assumptions, and changes in circumstances that may cause events or the Company's actual activities or results to differ significantly from those expressed in any forward-looking statement. Although the Company believes the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future events, results, actions, activity levels, performance, or achievements. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect unanticipated events.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Exhibit 99.1 Under Armour, Inc. press release dated August 6, 2024. 101 XBRL Instance Document - The instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. UNDER ARMOUR, INC. Date: August 6, 2024 By: /s/ Mehri Shadman Mehri Shadman Executive Vice President, Chief Legal Officer and Corporate Secretary