Under Armour CEO to sell more than 1 million company shares

Kevin Plank selling for asset diversification, charitable giving, tax and estate planning

November 19, 2010|By Andrea K. Walker, The Baltimore Sun

The CEO of sports apparel company Under Armour plans to sell up to 1,125,000 personal Class B shares over 10 months beginning in February, according to a regulatory filing made Friday.

Kevin Plank also plans to sell 125,000 shares of the company's Class B stock for his charitable organization.

Plank owns 12,500,000 shares of the company's Class B stock, or about 24.5 percent of the total shares of Class A and B shares available as of Oct. 31. He owns 76.5 percent of voting stock.

The sales are being done for asset diversification, tax and estate planning and charitable giving purposes, according to the filing with the Securities and Exchange Commission.

andrea.walker@baltsun.com

Twitter.com/ankwalker

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