Eric Olson
Under ArmourAbout Eric T. Olson
Admiral Eric T. Olson (U.S. Navy, Retired) is an independent director of Under Armour, Inc., serving since July 2012; he is 73 years old and chairs the Board’s Corporate Governance & Sustainability Committee . He retired in 2011 after 38 years in the U.S. Navy, culminating as Commander of U.S. Special Operations Command (SOCOM), where he led 60,000 personnel with an annual budget exceeding $10 billion; he holds a Master’s in National Security Affairs and is a recipient of the Defense Distinguished Service Medal and Silver Star . Olson is President and Managing Member of ETO Group, LLC (since September 2011) and previously served as CEO of HANS Premium Water (June 2019–May 2020) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| U.S. Navy / U.S. Special Operations Command | Admiral; Commander, SOCOM | 38-year Navy career; SOCOM July 2007–Aug 2011 | Led >60,000 personnel; managed >$10B annual budget; multiple leadership and valor decorations |
| HANS Premium Water | Chief Executive Officer | Jun 2019–May 2020 | CEO of home clean water solution company |
| ETO Group, LLC | President & Managing Member | Since Sep 2011 | Advises private and public sector organizations |
External Roles
| Organization | Role | Committees/Notes | Status |
|---|---|---|---|
| Iridium Communications, Inc. | Director | Chair, Compensation Committee | Current |
| Palladyne AI (formerly Sarcos Technology & Robotics Corp) | Director | Member, Nominating & Corporate Governance Committee; Chair, Compensation Committee (role noted in 2025 proxy; was Audit Committee member in 2024 proxy) | Current |
| Special Operations Warrior Foundation | Chairman Emeritus | Non-profit leadership role | Current |
Board Governance
- Independence: The Board determined Olson is independent under NYSE standards .
- Committee assignments (FY2025): Chair, Corporate Governance & Sustainability Committee (4 meetings); not listed on other committees in FY2025 committee table .
- Attendance: In FY2025, all directors attended at least 75% of aggregate Board and committee meetings; Board held 6 meetings .
- Governance environment: Separate Chair and CEO; majority independent board; fully independent committees; regular executive sessions of non-management directors .
- Stock ownership guidelines: Non-management directors must hold stock equal to 5x annual retainer within 5 years; company states all non-management directors are in compliance or new within the 5-year window .
Fixed Compensation
Director fee framework and Olson’s actual fees.
- Director compensation structure (FY2025):
- Annual director retainer: $90,000; Committee Chair retainers: Audit $30,000; Human Capital & Compensation $25,000; Corporate Governance & Sustainability $22,500; Finance & Capital Planning $22,500; Committee member retainer: $10,000; Board Chair retainer: $175,000 (no additional committee retainer for Chair) .
- Equity: Annual RSUs for Class C shares with $150,000 grant-date fair value; initial Board RSUs $100,000 vest over 3 years; RSUs convert to DSUs at vest and settle 6 months after board departure (death/disability/change-in-control accelerate per plan) .
| Metric | FY2024 | FY2025 |
|---|---|---|
| Fees Earned or Paid in Cash ($) – Eric T. Olson | $112,500 | $112,500 |
| Stock Awards ($) – Eric T. Olson | $150,000 | $150,000 |
| Total ($) – Eric T. Olson | $262,500 | $262,500 |
Notes: Olson’s cash fees equal the $90,000 director retainer + $22,500 Corporate Governance & Sustainability Committee Chair retainer .
Performance Compensation
- Directors do not receive performance-based equity; non-management director equity is time-based RSUs that convert to DSUs upon vesting .
- No stock options or annual performance metrics for directors are disclosed .
| Director Performance Metrics | FY2024 | FY2025 |
|---|---|---|
| Performance-based measures used for non-management directors | Not used | Not used |
Other Directorships & Interlocks
- Current public company boards: Iridium Communications, Palladyne AI (formerly Sarcos Technology & Robotics Corp) .
- Interlocks/related-party exposure: No Olson-related transactions disclosed in “Transactions with Related Persons” for FY2025; disclosed related-party items involve aircraft lease with an entity owned by Kevin Plank and the UNLESS acquisition/consulting (Liedtke family), not Olson .
Expertise & Qualifications
- Skills matrix indicates Olson provides: Executive leadership; Technology/Digital & eCommerce; Marketing/Branding & Media; Financial expertise; International experience; Public company board experience .
Equity Ownership
- Beneficial ownership (record + options/RSUs vesting within 60 days): Olson reported 0 shares of Class A/B and 0 shares of Class C as of June 6, 2025 .
- Deferred and unvested equity:
- DSUs/RSUs as of record date: Class A DSUs 13,758; Class C DSUs 137,605; Class C RSUs 18,987 .
- DSUs settle in Class A or Class C six months post-departure; RSUs convert to DSUs at vest .
- Pledging/hedging: Company states no director/officer shares are pledged and hedging/shorts/derivatives are prohibited by policy .
- Ownership guidelines: 5x annual retainer for directors; company states all non-management directors are in compliance or new within the 5-year window .
| Holding/Policy | Amount / Status |
|---|---|
| Class A/B shares beneficially owned (Olson) | 0 |
| Class C shares beneficially owned (Olson) | 0 |
| Class A DSUs (Olson) | 13,758 |
| Class C DSUs (Olson) | 137,605 |
| Class C RSUs (Olson) | 18,987 |
| Shares pledged | None (company-wide statement) |
| Director ownership guideline | 5x annual retainer; company indicates directors are compliant or within 5-year phase-in |
Board Governance (Committee Detail)
| Committee | FY2025 Role | Meetings (FY2025) |
|---|---|---|
| Corporate Governance & Sustainability | Chair (Member and Chair) | 4 |
Additional governance context:
- Majority independent board; fully independent committees; regular executive sessions .
- Say-on-pay support: “More than 90%” approval at 2024 Annual Meeting (reflecting strong shareholder support for compensation practices) .
Governance Assessment
- Strengths: Independent director with long-tenured board experience; chairs the Corporate Governance & Sustainability Committee; strong leadership and oversight background; robust alignment mechanisms via director DSUs and ownership guidelines; no Olson-related party transactions disclosed; no hedging/pledging permitted .
- Engagement: Meets attendance expectations (company reports all directors at least 75% in FY2025); committee chaired met 4 times in FY2025 .
- Alignment: Annual director equity ($150k RSUs) converting to DSUs and 5x retainer stock ownership guideline support investor alignment; DSUs/RSUs balances demonstrate ongoing equity exposure .
- Potential watch items: Long tenure (director since 2012) amid no formal term limits (company explicitly avoids term limits to preserve experience), mitigated by continued board refreshment and average tenure disclosure .
- No red flags identified specific to Olson in FY2025 disclosures (no related-party transactions; no pledging; independence affirmed) .