Under Armour discloses CEO/Chairman Kevin Plank entered into a pre-arranged stock trading plan to sell shares of the Company’s Common Stock
* The trading plan provides for the sale of shares of a combination of the Class B Common Stock and, if and when issued, the Class C Common Stock. The trading plan provides for the sale prior to the end of 2015 of up to 1,125,000 shares of the Company's Class B Common Stock held by Mr. Plank personally and up to 125,000 shares of the Company's Class B Common Stock held by his charitable foundation.
* The trading plan further provides for the sale of up to 1,350,000 shares of the Company's Class C Common Stock held by him personally and up to 150,000 shares of the Company's Class C Common Stock held by his charitable foundation. Any sales of Class C Common Stock under the trading plan will begin only following the initial distribution of one share the Class C Common Stock for each outstanding share of Class A and Class B Common Stock (the "Initial Class C Issuance") and the listing of the Class C Common Stock on the New York Stock Exchange. Sales of the Class C Common Stock may extend through August 2016. The sales under the trading plan sales are being done for asset diversification, tax and estate planning and charitable giving purposes.