Under Armour Inc. has loads riding on Stephanie Linnartz’s Protect This House 3 plan to reinvigorate the corporate — and so does the newly appointed president and chief executive officer.
Linnartz, a former Marriott executive who moved into the corner office in late February, received stock awards valued at $11 million, in addition to a complete salary of $125,000 and a bonus of $175,000 for the fiscal yr ended March 31.
Stock awards, even unvested awards, are valued as of the grant date in corporate Proxy statements — so how much of the worth in those stock awards Linnartz ever sees will rely upon just how well Under Armour’s stock performs.
Shares of the corporate rose 1.5 percent to $6.74 on Tuesday, however the stock continues to be well below its 52-week high of $11.41, set in February.
When Linnartz laid out her plan to Wall Street in May, she was clear-eyed concerning the challenges, but — after all — bullish on the chance.
“I very much recognize the time for motion is now,” the CEO told analysts. “We’d like to deliver. And that’s what I’m holding myself and the team accountable to. So it’s not at all times essentially the most glamorous part, however it is the tactical things that have you ever pull off a technique at the top of the day. Focus, execution and accountability.”
The Protect This House 3 plan, which borrows its name from one among the corporate’s best-known tag lines, has Under Armour continuing with some recent themes — like adding in additional high-end goods to the North American assortment — but with more focus.
“After I came, there was a protracted, long list of projects and efforts that the corporate was attempting to tackle,” Linnartz said. “What we’ve done is we’ve really narrowed down the list of projects and efforts for the following three years so we could be laser-focused.”
Founder Kevin Plank, who now serves as executive chairman and brand chief, logged total pay of $3 million last yr, including a salary of $501,923, incentive pay of $486,750 and stock awards valued at $2 million.
Plank owns 52.8 million shares of Under Armour across three classes and controls 64.7 percent of the voting rights at the corporate.
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