Under Armour Announces a $500 Million Share Repurchase Program
February 23, 2022
Under Armour, Inc. (NYSE: UA, UAA) today announced that its Board of Directors has authorized the repurchase of up to $500 million of Under Armour’s outstanding Class C common stock, effective immediately.
“We believe this share buyback program provides an excellent opportunity to deploy cash and enhance shareholder value without compromising the financial flexibility necessary to continue investing in key higher-growth opportunities,” said Under Armour President and CEO Patrik Frisk.
Repurchases under this program may be made over the next two years through various methods including open market, privately negotiated, or accelerated share repurchase transactions. Timing, manner, price, and amount of stock repurchases will be determined, at management’s discretion, based on various factors, including but not limited to economic and market conditions, stock price, other capital management needs and opportunities, and corporate and regulatory considerations. Under Armour has no obligation to repurchase any amount of its common stock, and such repurchases, if any, may be suspended or discontinued at any time.
About Under Armour, Inc.
Under Armour, Inc., headquartered in Baltimore, Maryland, is a leading inventor, marketer and distributor of branded athletic performance apparel, footwear, and accessories. Designed to empower human performance, Under Armour’s innovative products and experiences are engineered to make athletes better. For further information, please visit http://about.underarmour.com.