Under Armour CEO Sells $72 Million Worth of Stock

Under Armour Inc.'s CEO Kevin Plank announced that he plans on selling up to 2.1 million shares (valued at nearly $72 million USD as of Friday) of Class C stock in the sportswear company he founded. He entered into a pre-arranged stock trading plan, which will still leave him with 32 million Class C shares if the entire deal goes through. Given that investors see Plank as the driving force behind the success of the company, the unexpected news caused shares of Under Armour to drop 2.7 percent on...