Days after unveiling him as its new ambassador, sportswear giant Under Armour has issued NBA star Stephen Curry with stock units valued at 75 million dollars.
The price reflects an award of restricted stock units worth over 8.8 million shares in the company’s Class C common stock.
The units were issued to the WSC and AC Family Revocable Trust, of which Curry is a trustee and beneficiary.
In a regulatory filing, Under Armour said the shares were granted partially due to Curry’s new position as ambassador at the company.
The basketball player signed his multi-year agreement with Under Armour last week, which also saw him appointed to the position of president of the Curry Brand, a move aimed to bolster support for this division and to drive strategic business and marketing solutions.
It built on Curry and Under Armour’s already long-standing relationship, which has seen the duo release a series of shoe styles over the last decade and increase funding for initiatives that aim to leave a positive impact on the community.