Under Armour, Inc. — Director's Dealing 2017

May 8, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Under Armour, Inc. (UA)
CIK: 0001336917
Period of Report: 2017-05-04

Reporting Person: McDermott William R (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-04	Class C Common Stock	M	6695	$5.56	Acquired	72964.54	Direct
2017-05-04	Class C Common Stock	F	1978	$18.81	Disposed	70986.54	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-05-04	Director Stock Option (Right to Buy)	$5.56	M	6695	Disposed	2017-05-07	Class C Common Stock (6695)	Direct

Footnotes

F1: This stock option was originally reported as an option to purchase 1,662 shares of Under Armour, Inc.'s Class A Common Stock at an exercise price of $45.12, and was later adjusted for two separate two-for-one stock splits completed in 2012 and 2014. As a result of the Class C Dividend, the option was further adjusted such that it now entitles the Reporting Person to exercise a portion of the option for 6,695 shares of Class C Common Stock, and the exercise price has been adjusted so that the portion of the option covering the Class A Common Stock now has an exercise price of $5.6795 and the portion of the option covering the Class C Common Stock has an exercise price of $5.56 per share.

F2: Represents shares withheld to cover the exercise price of the options exercised.