The stock payday for the recently named president of the Curry Brand starts to vest in 2029.
Stephen Curry has found his way to one of the key perks of executive life — the stock grant.
Under Armour Inc. gave the recently named president of the Curry Brand — and point guard for the Golden State Warriors — restricted stock units for 8,823,530 shares of its Class C common stock.
The units were valued at $75 million when they were issued on Monday and were awarded to the WSC and AC Family Revocable Trust, where Curry is both a trustee and beneficiary.
Under Armour said the award was “partial consideration” for Curry’s recent deal, which has him continuing to serve as brand ambassador for the company while also heading up his signature product line.
The award vests in two equal installments, in 2029 and 2034, tying at least some of Curry’s take to the financial fortunes of Under Armour.
The Curry Brand already offers footwear and apparel for basketball, training and golf. But now the brand is looking to expand, both in new and existing categories, encompassing basketball, golf, womenswear, youth and sportstyle looks.
“If the past 10 years have shown me anything, it’s that Under Armour and I can build great things together,” Curry said in March. “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.”
