Kevin Plank sheds $16.6M in Under Armour stock – Baltimore Business Journal – News Journal Blogs

May 3, 2013, 10:34am EDT Updated: May 3, 2013, 11:55am EDT

Kevin Plank started Under Armour in 1996.


Jaclyn Borowski

Kevin Plank started Under Armour in 1996.

Kevin Plank is $16.6 meg richer.

The Under Armour Inc. CEO in the terminal hebdomad drop added 290,000 shares of the metropolis attire maker’s stock, according to a Securities and Exchange Commission filing.

At the instance of the sales, the shares were priced between $55.70 and $57.35.

Plank said in a federal filing in Nov that he planned to delude 1.3 meg shares of the consort over 10 months. At the time, the filing said he was commerce the shares, a cypher of his have in Under Armour (NYSE: UA), for quality diversification, set and realty thinking and benevolent gift purposes.

He has entered similar deals over the terminal digit years.

Plank owns more than 20 meg shares of the company’s Class B stock. The Class B shares provide him more voting shares in the company.

Forbes estimates the 40-year-old has a net worth of $1.2 billion.

PHOTOS: Inside Kevin Plank‘s Sagamore Farm

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Kevin Plank sheds $16.6M in Under Armour have – metropolis Business Journal

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