Under Armour CEO Patrik Frisk steps down; COO Colin Browne named interim CEO

Under Armour, Inc.

Frisk to step down as CEO and board member effective June 1, 2022; will advise through Sept 1, then consult through Sept 2023.
Colin Browne, current COO, appointed interim President and CEO effective June 1, 2022; board starts search for permanent successor.
Frisk receives $6.89M lump sum plus $238K for relocation/benefits; all unvested equity forfeited.
Browne's base salary raised to $1M (from $775K), target bonus to 165% of base (from 75%); additional $3M in RSUs granted.
Frisk's separation agreement includes $1.3M consulting fees payable quarterly through Sept 2023.

item 5.02 item 9.01

Executive movements

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Departed

Patrik Frisk

President and Chief Executive Officer

UAA · Under Armour, Inc.

Effective: 2022-06-01
Successor: Colin Browne
Filed: May 18, 2022, 7:59 PM ET

On May 18, 2022, Under Armour, Inc. (the “Company”) issued a press release announcing that Patrik Frisk, the Company’s President and Chief Executive Officer, will be stepping down from his role and as a member of the Company’s Board of Directors (the “Board”).

Appointed (interim)

Colin Browne

interim President and Chief Executive Officer

UAA · Under Armour, Inc.

Effective: 2022-06-01
Filed: May 18, 2022, 7:59 PM ET

On May 17, 2022, the Board approved the appointment of Colin Browne, the Company’s Chief Operating Officer, as interim President and Chief Executive Officer and principal executive officer effective June 1, 2022.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Patrik Frisk departed as President and Chief Executive Officer at Under Armour, Inc..

Action: stepping down
Role: President and Chief Executive Officer

Exact text from the filing

On May 18, 2022, Under Armour, Inc. (the “Company”) issued a press release announcing that Patrik Frisk, the Company’s President and Chief Executive Officer, will be stepping down from his role and as a member of the Company’s Board of Directors (the “Board”).

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Colin Browne was appointed as interim President and Chief Executive Officer at Under Armour, Inc..

Action: appointed
Role: interim President and Chief Executive Officer

Exact text from the filing

On May 17, 2022, the Board approved the appointment of Colin Browne, the Company’s Chief Operating Officer, as interim President and Chief Executive Officer and principal executive officer effective June 1, 2022.

View on SEC.gov

Under Armour, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-22-154083

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