Under Armour Approves $500M Stock Buyback Program

TL;DR

UA just authorized a $500M stock buyback, good until 2027.

AI Summary

Under Armour, Inc. announced on September 4, 2024, that its Board of Directors has approved a new stock repurchase program authorizing the repurchase of up to $500 million of the company's Class A common stock. This program is effective immediately and will continue until September 4, 2027, or until the repurchase authorization is fully utilized.

Why It Matters

This significant share repurchase authorization signals management's confidence in the company's valuation and could potentially boost earnings per share by reducing the number of outstanding shares.

Risk Assessment

Risk Level: medium — While a buyback can be positive, the effectiveness depends on Under Armour's future performance and ability to execute its strategy.

Key Numbers

• $500M — Stock Repurchase Authorization (Represents the maximum value of Class A common stock the company is authorized to repurchase.)
• 3 years — Repurchase Program Duration (The program is effective from September 4, 2024, until September 4, 2027.)

Key Players & Entities

• Under Armour, Inc. (company) — The company filing the report and authorizing the repurchase.
• $500 million (dollar_amount) — The total amount authorized for stock repurchases.
• September 4, 2024 (date) — The date the Board of Directors approved the repurchase program.
• September 4, 2027 (date) — The expiration date of the stock repurchase program.

FAQ

From the Filing

0001336917-24-000146.txt : 20240906 0001336917-24-000146.hdr.sgml : 20240906 20240906164526 ACCESSION NUMBER: 0001336917-24-000146 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240904 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Submission of Matters to a Vote of Security Holders ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240906 DATE AS OF CHANGE: 20240906 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: 241285027 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-20240904.htm 8-K ua-20240904 FALSE 0001336917 0001336917 2024-09-04 2024-09-04 0001336917 us-gaap:CommonClassAMember 2024-09-04 2024-09-04 0001336917 us-gaap:CommonClassCMember 2024-09-04 2024-09-04 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): September 4, 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