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Under Armour CEO Plank sells 94,500 shares

Under Armour founder and CEO Kevin A. Plank sold 94,500 shares of company stock in a transaction reported late Thursday for a total value of $7,670,407.

Shares were sold at a weighted average purchase price of either $80.44 per share or $81.39 per share, according to a filing with the U.S. Securities and Exchange Commission.

Under Armour shares closed down 1.10 percent Friday at $80.25 per share on the New York Stock Exchange.

Plank, also the president and chairman of the Baltimore-based athletic apparel brand, holds 20 million class B shares, or about 19 percent of the company, and 70 percent of the voting power.

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