Under Armour, Inc. announced that Kevin Plank, chairman and CEO of
Under Armour, filed a Form 4 with the SEC to report the sale of 1.5
million shares of stock, or about 10% of his holdings. The filing that
on November 1, Plank and his family foundation and trusts, sold 750,000
shares of Class A Common Stock and 750,000 shares of Class B Common
Stock.
According to the filing, the sales were done for asset diversification,
tax and estate planning and charitable giving purposes. Following the
sales, Plank still beneficially owns 12.5 million shares of Class B
Common Stock, representing approximately 25.7% of the total Class A and
Class B shares outstanding as of September 30.
