Stephen Curry and Under Armour Launch The Curry Brand

Stephen Curry Receives $75M in Under Armour Compensation Package to Head Curry Brand

Stephen Curry Receives $75M in Under Armour Compensation Package to Head Curry Brand

After the announcement that Under Armour extended the contract of Golden State Warriors Stephen Curry, it has been disclosed that he has also received an abundance of shares that equal $75 million.

The Athletic reported that the NBA champion received a large allotment of shares in Under Armour last week as part of the compensation package that is included in being appointed president of Under Armour’s Curry Brand. That package is reportedly worth $75 million.

The amount allocated to Curry was 8,823,530 restricted stock units of Under Armour common stock on April 3. This information was disclosed in a public SEC filing last week. The $75 million award will vest in two installments, provided that he remains with the brand. The initial installment will vest in 2029 and the next one will take place in 2034.

“The Award was granted as partial consideration in connection with Mr. Curry’s entry into an Under Armour, Inc. Athlete Product, Brand, Ambassador, and Endorsement Agreement (the “Athlete Agreement”) with the Company, pursuant to which Mr. Curry is continuing his relationship with the Company as a brand ambassador of the Company and will serve as the President of Curry Brand, a signature product line of the Company,” the filing stated.

Last week, it was reported that the two sides have “amplified their unique partnership even further, forging a long-term commitment to serve athletes and communities and drive mutual success for years to come.”

“If the past ten years have shown me anything, it’s that Under Armour and I can build great things together. It’s all about impacting athletes and creating products that perform and resonate with them, and Under Armour does it best. In 2013, we bet on each other, and I’m all in on taking this next step together,” Curry said in a written statement about the continued partnership.

Curry is only the ninth athlete in history to release 10 different signature shoes and the first to do so at Under Amour.

Stephen Curry Receives $75M in Under Armour Compensation Package to Head Curry Brand

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