Stephen Curry has found his solution to considered one of the important thing perks of executive life — the stock grant.
Under Armour Inc. gave the recently named president of the Curry Brand — and point guard for the Golden State Warriors — restricted stock units for 8,823,530 shares of its Class C common stock.
The units were valued at $75 million once they were issued on Monday and were awarded to the WSC and AC Family Revocable Trust, where Curry is each a trustee and beneficiary.
Under Armour said the award was “partial consideration” for Curry’s recent deal, which has him continuing to function brand ambassador for the corporate while also heading up his signature product line.
The award vests in two equal installments, in 2029 and 2034, tying at the very least a few of Curry’s take to the financial fortunes of Under Armour.
The Curry Brand already offers footwear and apparel for basketball, training and golf. But now the brand is seeking to expand, each in recent and existing categories, encompassing basketball, golf, womenswear, youth and sportstyle looks.
“If the past 10 years have shown me anything, it’s that Under Armour and I can construct great things together,” Curry said in March. “It’s all about impacting athletes and creating products that perform and resonate with them, and Under Armour does it best. In 2013 we bet on one another, and I’m all in on taking this next step together.”
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