Shawn Curran - Chief Supply Chain Officer | Under Armour (UAA) Executive Profile & Compensation

About Shawn Curran

Shawn Curran, age 61, serves as Under Armour’s Chief Supply Chain Officer (since October 2023), leading global sourcing, manufacturing, logistics, and fulfillment . Prior roles include COO positions at Gap Inc. and Old Navy with deep operational and supply chain expertise . During FY2025, Under Armour delivered adjusted operating income of $212 million and currency neutral net revenue of $5.19 billion, with gross margin improving by 180 bps amid supply chain benefits; Company TSR measured 28.92 for the year .

Past Roles

Organization	Role	Years	Strategic Impact
Old Navy (Gap, Inc.)	EVP, Chief Operating Officer	Jul 2021 – Jun 2022	Oversaw operations and execution for a major US apparel retailer
Gap Inc.	EVP, Chief Operating Officer	Mar 2020 – Jun 2021	Led corporate operations across brands, focusing on efficiency and execution
Gap Inc.	EVP, Global Supply Chain & Product/Store Operations	Mar 2019 – Feb 2020	Drove end-to-end supply chain and in-store operations integration
Gap Inc.	EVP, Global Supply Chain & Product Operations	Oct 2017 – Feb 2019	Led global supply chain and product operations transformation

Fixed Compensation

Element	FY2025 Value	Notes
Base Salary	$725,000	No increase vs FY2024; aligned to role and market data
All Other Compensation	$23,964	Includes $5,010 supplemental disability premiums (ceased Oct 1, 2024), $16,254 401(k) match, $2,700 executive health exam
Deferred Compensation (Contribution)	$111,538	Aggregate plan balance: $151,155; earnings $4,055

Performance Compensation

Annual Cash Incentive (FY2025)

Metric	Weight	Threshold	Target	Maximum	FY2025 Actual	Payout Mechanics
Adjusted Operating Income	50%	$130m	$190m	$275m	$212m	Corporate payout 115% of target; Curran individual factor 1.05× (final award = 115% × 1.05)
Currency Neutral Net Revenue	50%	$5,025m	$5,250m	$5,515m	$5,194m	Corporate payout 115% of target; Curran individual factor 1.05×
Target Bonus % of Salary	—	—	75% of salary	—	Achieved 115% × individual factor	Threshold 50% of target; Max 200% of target
Actual Bonus Paid (Non-Equity Incentive)	—	—	—	—	$658,200	Summary Compensation Table

Equity Awards (FY2025)

Award Type	Grant Date	Target Shares	Earned %	Vesting	Notes
Performance RSUs (Class C)	Jun 3, 2024	92,183	107% of target	3 tranches: Jun 2025, May 2026, May 2027	Metrics: AOI and currency-neutral net revenue (50%/50% weights)
Time-based RSUs (Class C)	Jun 3, 2024	92,183	N/A	Three equal annual installments	Standard vesting cadence; market value as of 3/31/25: $548,489
Prior RSUs (TB/PSU)	Nov 9, 2023	TBRSU: 30,775 & 14,772; PSU target: 46,160	FY2023 PSUs forfeited (threshold not met)	TBRSU over 3 years; PSU contingent	Market values 3/31/25: $183,111; $87,893; $274,652
FY2025 RSU Vesting Realized	FY2025	—	—	—	30,156 shares vested; $268,690 value

Clawback: Annual cash incentive and long-term incentive plans are subject to a clawback policy .

Equity Ownership & Alignment

Item	Detail
Beneficial Ownership (Class C)	56,172 shares (<1%)
Pledging	No shares pledged by directors or officers as of record date
Options	None disclosed for Curran; outstanding equity is RSUs/PSUs
Unvested TBRSUs (3/31/25)	30,775; 14,772 (Nov 9, 2023) and 92,183 (Jun 3, 2024)
Unvested/Unearned PSUs (3/31/25)	46,160 (Nov 9, 2023) and 92,183 (Jun 3, 2024)
Ownership Guidelines	EVPs: 3× salary; other execs: 1× salary; compliance expected within 5 years; exec team either compliant or within grace period
Hedging/Pledging Policy	Hedging prohibited; no pledging; best-practice governance

Employment Terms

Provision	Term
Employment Agreement	Company does not use executive employment agreements (unless required by local law)
Severance (Non-CIC)	Lump-sum 1.5× salary for EVP; pro-rated annual incentive (if employed ≥6 months), 18 months medical/dental premiums; non-compete required; example for Curran: Cash $1,770,700; Benefits $18,665
Change-in-Control (Double Trigger)	Lump-sum 1.5× (salary + target bonus); one year benefits; equity accelerates upon qualifying termination; for Curran: Cash $1,903,125; Benefits $158,960; Equity vesting value $1,642,634; Total $3,704,719 (at $5.95 share price assumption)
Non-Compete (Any Reason)	Company may enforce 1-year non-compete by paying ~60% of salary; Curran example: $435,000
Definitions	Change in Control, Cause, Good Reason per CIC and Severance Plans

Performance & Track Record

FY2025 operating results linked to Curran’s remit: adjusted operating income $212m (above target) and currency-neutral net revenue $5.19b (between threshold and target), driving 115% corporate bonus funding and 107% PSU earn-out .
Gross margin improved by 180 bps, “primarily driven by supply chain benefits and reduced DTC discounting,” signaling execution strength in Curran’s domain .
Company TSR for FY2025 was 28.92; pay-versus-performance shows Non-PEO NEO average compensation actually paid of $2.42m, aligning incentives with outcomes .

Compensation Committee & Governance

Committee oversees executive compensation and human capital; engages Willis Towers Watson as independent consultant; uses peer/survey data for market competitiveness .
Strong shareholder support: >90% “Say-on-Pay” approval at 2024 annual meeting; no changes made in response .

Vesting Schedules and Potential Selling Pressure

FY2025 PSUs earned at 107% and vest in three equal installments in Jun 2025, May 2026, and May 2027; ongoing vesting windows may create periodic supply from RSU releases .
FY2025 TBRSUs vest in three equal annual installments; FY2025 realized RSU vesting was 30,156 shares ($268,690) for Curran, evidencing near-term unlock cadence .

Compensation Structure vs Performance Metrics

Component	Metric Linkage	Weighting / Target	FY2025 Outcome	Alignment
Annual Cash Incentive	AOI & Currency-neutral revenue	Target bonus 75% of salary; 50/50 metric split	Corporate payout 115% of target; Curran individual factor 1.05×	Strong link to profitability and revenue quality
Performance RSUs	AOI & Currency-neutral revenue	Earn-out from 0–200%; 50/50 metric split	107% of target earned; 3-year pro rata vest	Balanced short/long-term incentives
Time-based RSUs	Tenure retention	3 annual installments	Ongoing vesting; market value detailed	Retention with equity exposure

Equity Ownership & Alignment Table

Measure	Value
Total beneficial ownership (Class C)	56,172 shares; <1% of class
Vested vs unvested (as of 3/31/25)	Vested FY2025: 30,156 shares; Unvested TBRSU: 30,775; 14,772; 92,183; Unearned PSU: 46,160; 92,183
Options exercisable/unexercisable	None for Curran
Pledging	None; hedging prohibited
Ownership guideline	3× salary for EVPs; 1× for other execs; compliant or within 5-year window

Employment Terms Table (Scenario Values at $5.95 Class C price)

Scenario	Cash Severance	Benefits	Equity Vesting	Total
CIC: Termination without cause or resignation for good reason	$1,903,125	$158,960	$1,642,634	$3,704,719
Non-CIC: Termination without cause	$1,770,700	$18,665	—	$1,789,365
Any reason with non-compete enforced	$435,000	—	—	$435,000
Death or disability	—	—	$1,642,634	$1,642,634

Investment Implications

Alignment and upside exposure: Pay mix ties Curran’s incentives to profitability (AOI) and quality of revenue, with PSUs earned at 107% and structured multi-year vesting—supportive of execution continuity and margin discipline .
Retention risk appears contained: Robust severance/CIC protections (double-trigger, 1.5× salary+target bonus) plus ongoing TBRSU/PSU vesting reduce near-term departure risk; non-compete enforceable with continued pay further mitigates transitions .
Trading signals: RSU tranches vest in May 2026 and May 2027, and time-based awards vest annually—monitor Form 4 filings around these dates for potential incremental supply; FY2025 vesting demonstrated tangible releases (30,156 shares) .
Governance quality: No hedging/pledging, active clawback policy, >90% say-on-pay support, and independent consultant engagement indicate strong oversight—lower governance red flags and better pay-for-performance credibility .