Proxy Blog

Under Armour, Inc.

May 11, 2020

The annual proxy for this sportswear manufacturer had the following proposals: 

  1. Proforma votes on directors, the appointment of auditors, and executive compensation 
  2. Board proposal to amend bylaws 

Magni voted as follows: 

  1. For and against proforma proposals.
    For directors – The disclosures in the proxy meet the criteria in Magni’s policy on election of directors.
    -For auditors – There appear to be no controversies with the financial statements of the company.
    -Against “say-on-pay” – The lack of a shareholder engagement program needs to be addressed. 
  2. For board proposal to amend bylaws – If adopted this proposal would expand the rights of the shareholders. Currently, only the board can amend the bylaws.