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Under Armour announces $500M share repurchase program

Under Armour Inc. announced Wednesday that its board of directors has authorized the repurchase of up to $500 million of outstanding Class C common stock, effective immediately.

Repurchases under this program may be made over the next two years through various methods including open market, privately negotiated, or accelerated share repurchase transactions. Timing, manner, price and amount of stock repurchases will be determined, at management’s discretion, based on various factors, including but not limited to economic and market conditions, stock price, other capital management needs and opportunities, and corporate and regulatory considerations.

Under Armour has no obligation to repurchase any amount of its common stock, and such repurchases, if any, may be suspended or discontinued at any time.