Jean E. Palmieri
2 min read
In This Article:
Kevin Plank’s return to the corner office was good for his wallet.
The chief executive officer of Under Armour, who stepped back in as chief executive officer of the company he founded last April, received nearly $11 million in compensation in fiscal 2025. His package breaks down to $803,462 in salary, a bonus of $1 million and stock awards of $9.1 million, according to the company’s newly released proxy statement. Plank will only receive the stock awards if the company does well, providing further incentive for him to execute on his previously announced strategy. Stock awards are a standard feature of executive pay, tying the compensation packages to the fortunes of other shareholders as they only pay off if the company performs in the market.
More from WWD
-
Steph Curry's Under Armour Deal: The Details of His Potential Lifetime Contract
-
Under Armour Moving in Right Direction Despite Still-challenging Results
-
Under Armour Continues to Struggle, but Makes Progress on Restructuring Plan
The prior year, Plank earned a salary of $500,000 and stock awards of $4 million.
The next highest-paid executive at Under Armour is chief product officer Yassine Saidi, who received $704,002 in salary and $1.6 million in stock awards along with other compensation for a total package of just over $3 million. Next up is chief financial officer David Bergman, whose package totaled $2.9 million, and Kara Trent, president of the Americas, whose pay compensation stood at $2.2 million.
The proxy statement is filed with regulators and sets up the company’s annual meeting on Sept. 3.
At the meeting, shareholders will also weigh a proposal from Green Century Capital Management on behalf of shareholder Green Century Equity Fund requesting the company issue a report summarizing its targets to reduce emissions and publish an annual update on any progress or setbacks toward that goal.
The board of directors said the proposal was “unnecessary and not in the best interest of the company’s shareholders,” citing Under Armour’s 2021 emissions reduction strategy to transition all energy in owned and operated facilities to 100 percent renewable sources by 2030 and reduce its greenhouse gas emissions by 30 percent by that date and net zero by 2050.
Best of WWD
-
Harvey Nichols Sees Sales Dip, Losses Widen in Year Marred by Closures
-
Nike Logs $1.3 Billion Profit, But Supply Chain Issues Persist
Sign up for WWD's Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.
