secwatch.observer — SEC 8-K summary
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Issuer:     Under Armour, Inc. (UAA)
CIK:        0001336917
Form:       8-K
Filed at:   2024-06-21T23:59:59+00:00
Accession:  0001336917-24-000097
Event type: litigation
Sentiment:  negative
Materiality: 0.75
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Under Armour agrees to pay $434M to settle securities class action
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- Company and Kevin Plank settle In re Under Armour Securities Litigation for $434M; no admission of fault.
- Settlement includes separate Chair and CEO roles for at least 3 years and performance-based vesting for top execs.
- Total accrual to reach $434M in Q1 FY2025 from prior $100M; expects to pay from cash or borrowing.
- Cash $858.7M as of Mar 31, 2024; $1.1B revolver undrawn; less than 20% expected from D&O insurance.
- Class period Sept 16, 2015 – Nov 1, 2019 covers purchasers of UAA and UA common stock.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1336917/000133691724000097/0001336917-24-000097-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1336917/000133691724000097/ua-20240620.htm
  HTML page:      https://secwatch.observer/filing/0001336917-24-000097

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer