Under Armour, Inc. — Director's Dealing 2011

Oct 31, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Under Armour, Inc. (UA)
CIK: 0001336917
Period of Report: 2011-10-27

Reporting Person: Sawall Dan J (VP, Retail)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-10-27	Class A Common Stock	S	1630	$83.63	Disposed	9500	Direct
2011-10-27	Class A Common Stock	M	2500	$28.41	Acquired	12000	Direct
2011-10-27	Class A Common Stock	S	2500	$83.34	Disposed	9500	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-10-27	Employee Stock Option (Right to Buy)	$28.41	M	2500	Disposed	2020-03-08	Class A Common Stock (2500)	Direct

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $83.61 to $83.64. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

F2: Exercisable in four equal annual installments beginning March 9, 2011.