Under Armour Board Shakeup: Plank New Chair, El-Erian Lead Director

Ticker: UA · Form: 8-K · Filed: 2024-08-06T00:00:00.000Z

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

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.

From the Filing

0001336917-24-000110.txt : 20240806 0001336917-24-000110.hdr.sgml : 20240806 20240806083223 ACCESSION NUMBER: 0001336917-24-000110 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20240806 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240806 DATE AS OF CHANGE: 20240806 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Under Armour, Inc. CENTRAL INDEX KEY: 0001336917 STANDARD INDUSTRIAL CLASSIFICATION: APPAREL & OTHER FINISHED PRODS OF FABRICS & SIMILAR MATERIAL [2300] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 521990078 STATE OF INCORPORATION: MD FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33202 FILM NUMBER: 241177228 BUSINESS ADDRESS: STREET 1: 1020 HULL STREET STREET 2: 3RD FLOOR CITY: BALTIMORE STATE: MD ZIP: 21230 BUSINESS PHONE: 410-454-6758 MAIL ADDRESS: STREET 1: 1020 HULL STREET STREET 2: 3RD FLOOR CITY: BALTIMORE STATE: MD ZIP: 21230 8-K 1 ua-20240806.htm 8-K ua-20240806 FALSE 0001336917 0001336917 2024-08-06 2024-08-06 0001336917 us-gaap:CommonClassAMember 2024-08-06 2024-08-06 0001336917 us-gaap:CommonClassCMember 2024-08-06 2024-08-06 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549  ________________________________________________________________________________  FORM  8-K  ______________________________________________________________________________  CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): August 6, 2024 ________________________________________________________________________________   UNDER ARMOUR, INC.  ________________________________________________________________________________  Maryland 001-33202 52-1990078 (State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.) 1020 Hull Street , Baltimore , Maryland 21230 (Address of principal executive offices) (Zip Code) Registrant’s telephone number, including area code: ( 410 )  468-2512 (Former name or former address, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Class A Common Stock UAA New York Stock Exchange Class C Common Stock UA New York Stock Exchange (Title of each class) (Trading Symbols) (Name of each exchange on which registered)  ________________________________________________  Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrang

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