Kara Trent
Under ArmourAbout Kara Trent
Kara Trent is President of the Americas at Under Armour, serving since February 2024; she joined Under Armour in May 2015 and previously led EMEA as SVP, Managing Director from November 2021 to January 2024 . She holds a Bachelor of Science in Sports Management from Springfield College . Under her EMEA leadership, the region delivered consistent double‑digit revenue growth, with strengthened premium brand presence through disciplined segmentation and marketplace management . Company performance context for FY2025: adjusted operating income reached $212 million versus a $190 million target, currency‑neutral net revenue was $5.19 billion versus $5.25 billion target, and the company TSR value of an initial $100 investment was 28.92 versus peer group 42.36 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Under Armour | President, Americas | Feb 2024–present | Leads North America and LATAM; received a 1.15× individual performance multiplier on FY2025 bonus for strong execution vs plan in the region . |
| Under Armour | SVP, Managing Director, EMEA | Nov 2021–Jan 2024 | Delivered consistent double‑digit revenue growth; strengthened premium brand presence and disciplined marketplace management . |
| Under Armour | Sr. Director, EMEA Merchandising & Planning | Jul 2019–Oct 2021 | Built planning/merch foundation for regional scaling . |
| Under Armour | Sr. Director, North America Merchandising & Visual Merchandising | Apr 2018–Jul 2019 | Drove merchandising discipline in NA . |
| Under Armour | Director, Athletic Specialty Merchandising | May 2015–Mar 2018 | Led specialty merchandising in NA . |
| PUMA North America | Merchandising/Planning roles | May 2007–Mar 2015 | Senior merchandising/planning leadership prior to UA . |
| Reebok | Merchandising/Planning/Buying roles | 5‑year span (dates not disclosed) | Commercial roles before PUMA tenure . |
External Roles
- No public company directorships or external board roles disclosed for Kara Trent in company filings or official bios .
Fixed Compensation
| Component | FY2025 | Notes |
|---|---|---|
| Base Salary ($) | $600,000 | Approved by Human Capital & Compensation Committee; no FY2025 increase for NEOs other than CEO . |
| Target Bonus (% of Salary) | 75% | Annual cash incentive plan design for NEOs (ex‑CEO) . |
| Actual Bonus Paid ($) | $596,600 | Company payout at 115% driven by AOI/Revenue; individual multiplier for Kara of 1.15× reflecting NA/LATAM execution . |
| Stock Awards ($) | $950,000 | 50% time‑based RSUs and 50% performance‑based RSUs granted 6/3/2024 . |
| All Other Compensation ($) | $95,736 | Includes relocation ($46,801), tax services ($9,061) and tax gross‑up ($20,535) . |
Performance Compensation
| Metric | Weighting | FY2025 Threshold | FY2025 Target | FY2025 Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Adjusted Operating Income ($) | 65% | $130M | $190M | $212M | Company plan funded at 115% overall; contributes majority of payout | Cash bonus paid FY2025; equity PSUs earned portion vests in three equal annual installments beginning June 2025 . |
| Currency‑Neutral Net Revenue ($) | 35% | $5.025B | $5.25B | $5.19B | Company plan funded at 115% overall; constrained by AOI threshold rules | Equity PSUs earned 107% of target, vesting in equal tranches in 2025, 2026, 2027 . |
- Kara‑specific bonus multiplier: CEO recommended and committee approved a 1.15× individual performance factor for Kara reflecting strong North America and LATAM performance versus FY2025 plan .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total Beneficial Ownership | 116,132 shares of Class C Stock; less than 1% of class outstanding . |
| RSUs Not Included in Beneficial Ownership Table | 307,741 Class C RSUs (future issuances beyond 60 days excluded from table) (footnote for NEOs including Kara). |
| FY2025 RSU Grants (Time‑based) | 70,059 Class C RSUs; vest on 6/3/2025, 5/15/2026, 5/15/2027 (equal installments) . |
| FY2025 RSU Grants (Performance‑based) | Target 70,059 Class C PSUs; 107% of target earned based on AOI/Revenue; vest in equal installments June 2025, May 2026, May 2027 . |
| FY2025 Vesting Activity | 15,253 RSUs vested; $101,976 value realized (no option exercises) . |
| Pledging/Hedging | No shares pledged by any directors/executive officers; hedging prohibited under insider trading policy . |
| Stock Ownership Guidelines | For “other executive officers,” required ownership = 1× base salary; expected compliance within 5 years of role; includes owned shares and unvested time‑based RSUs (excludes unearned PSUs/options) . |
Employment Terms
| Provision | Key Terms |
|---|---|
| Employment Agreements | None for named executive officers (including Kara Trent) . |
| Executive Severance Program (non‑CIC) | If terminated without cause, lump‑sum equals 1.5× base salary for EVP, or 1× for SVP; pro‑rated annual incentive based on actual company performance if employed at least first six months; paid medical/dental premiums for 18 months (EVP) or 12 months (SVP); cash for career transition services; 1‑year non‑compete required . |
| Executive Change‑in‑Control Severance Plan | Double‑trigger only (termination without cause or resignation for good reason within two years after CIC or within three months before in connection with CIC); severance = 1.5× (base salary + target annual incentive); forfeits current‑year incentive; 1‑year non‑compete; no tax gross‑up . |
| Clawback Policy | Adopted October 2023; recoups incentive‑based compensation received in prior 3 completed fiscal years upon accounting restatement (regardless of misconduct); additional SOX 304 reimbursement obligations for CEO/CFO if restatement is due to misconduct . |
| Insider Trading Policy | Prohibits trading while in possession of MNPI, imposes blackout periods for designated insiders, bans short sales and derivative transactions; summarizes governance restrictions . |
Compensation Structure Analysis
- FY2025 equity mix for NEOs (other than CEO) remained 50% time‑based RSUs and 50% PSUs, but performance period for PSUs shortened to one year given strategic/market uncertainty and CEO change; FY2025 PSUs earned at 107% of target .
- For FY2026, committee deviated from historical practice: executives other than CEO received only time‑based RSUs (no PSUs), citing global trade uncertainty; this shifts compensation toward lower at‑risk pay, improving retention but reducing pay‑for‑performance alignment .
- Say‑on‑pay support exceeded 90% at the 2024 annual meeting, and the committee made no design changes in response; continued monitoring planned for 2025 .
FY2025 Compensation Peer Group (Benchmarking)
| Peer Companies |
|---|
| Capri Holdings; Carter’s; Columbia Sportswear; Deckers; Hanesbrands; Levi Strauss; lululemon; NIKE; PVH; Ralph Lauren; Skechers; Tapestry; Urban Outfitters; V.F. Corporation . |
Related Party Transactions and Red Flags
- Relocation tax gross‑up: Kara received $20,535 tax gross‑up related to relocation benefits ($46,801), a potential governance sensitivity though relatively modest .
- No pledging of shares by directors/executive officers; hedging prohibited—positive alignment indicators .
- No individual employment agreement; severance governed by standard executive plans with 1‑year non‑compete—reduces bespoke risk .
Say‑On‑Pay & Shareholder Feedback
- 2024 say‑on‑pay approval exceeded 90%, with no program changes made in response; committee will consider 2025 results in ongoing reviews .
Expertise & Qualifications
- Education: B.S., Sports Management, Springfield College .
- Industry and geographic expertise: merchandising, planning, and regional leadership across NA and EMEA; proven execution driving double‑digit EMEA growth .
Performance & Track Record
- EMEA leadership: consistent double‑digit revenue growth and enhanced premium brand positioning during tenure as Managing Director .
- Americas FY2025: strong execution relative to plan leading to 1.15× individual bonus factor for Kara .
- Company FY2025 performance: adjusted operating income $212M (target $190M), currency‑neutral net revenue $5.19B (target $5.25B); PSUs earned 107% of target; company TSR value $28.92 vs peer $42.36 .
Equity Ownership & Alignment – Detailed Table
| Metric | Value | Notes |
|---|---|---|
| Beneficially Owned Shares (Class C) | 116,132 | Less than 1% of class . |
| RSUs Outstanding (Time‑based) | 70,059 | Unvested at 3/31/2025; market value $416,851 . |
| PSUs Outstanding (Target) | 70,059 | Unearned at 3/31/2025; earned 107% post‑performance; market value $416,851 shown for target . |
| Additional RSUs Not Included in Ownership Table | 307,741 | Excluded because issuable beyond 60 days . |
| Shares Pledged | None | Company states no pledging by directors/executive officers . |
| Hedging Policy | Prohibited | No short sales or derivatives per policy . |
| Ownership Guideline | 1× salary | Executive officers expected to meet within 5 years; includes unvested time‑based RSUs . |
Investment Implications
- Alignment: Pay is tied to AOI and revenue, with Kara’s individual multiplier reflecting region‑specific execution; equity mix historically balanced, but FY2026 shift to time‑based RSUs reduces performance linkage, potentially raising pay‑for‑performance scrutiny while supporting retention .
- Near‑term vesting/supply: Time‑based and earned PSUs vest in equal tranches in May 2026 and May 2027, creating potential withholding‑related share sales and modest supply overhang; no option overhang for Kara and no pledging mitigates forced‑sale risk .
- Governance: Strong policies (clawback, anti‑hedging, stock ownership guidelines) and no bespoke employment agreement provide disciplined oversight; relocation tax gross‑up is a minor yellow flag .
- Execution signal: The 1.15× individual uplift indicates credible operating control in Americas; continued delivery against AOI in a promotional environment is a positive indicator for incentive realization and regional margin trajectory .