Under Armour executive Karl-Heinz Maurath has sold nearly $2.4 million worth of his company shares in a transaction this week.
Maurath, Under Armour's chief revenue officer, unloaded 54,632 shares of Class A common stock valued at $43.33 each, according to a Securities and Exchange Commission filing.
"This substantial transaction is sure to get investors talking about the company," Consumer Eagle wrote in a story today.
Maurath now owns 25,840 shares of Under Armour, according the the SEC filing.
He joined the sports apparel maker in 2012 as president of Under Armour International after working in several senior executive jobs at Adidas.