NBA Lockout Watch, Day 35: Bucks G Jennings Interning In Footwear At Under Armour
Bucks G and Under Armour endorser Brandon Jennings is not only using the NBA lockout to "work out at the athletic apparel company's headquarters this summer, he's also working in Under Armour's footwear department" as part of an internship, according to Marc Spears of YAHOO SPORTS. Beginning last month, Jennings "has reported to the office for meetings with the company's basketball and jogging shoe developers," and "one of his ideas -- styled after the bumper of a Bugatti luxury car -- is already being implemented for a jogging shoe." Under Armour Creative Dir for Footwear Dave Dombrow said, "Forget about him being an NBA player for a second. He's a kid that's 21 that has a stylish point of view. We want to take that stylish point of view and put it on product." Spears reported the internship is "supposed to end at the start of September, but that could change if the NBA is still in a lockout." UA "has more than 250 endorsers," so it is "not unusual for employees at the company's headquarters to see an athlete walking through the halls." But Jennings "is different," as he is "in the building daily, eats lunch in the cafeteria and has a posh office that includes laptop and desktop computers." UA execs "initially considered giving their new intern a more modest cubicle, but the rest of the footwear department was having trouble getting work done with Jennings around" (SPORTS.YAHOO.com, 8/3).
SHARING THE WEALTH: In Baltimore, Ryan Sharrow reported Under Armour President, Chair & CEO Kevin Plank has sold 143,100 shares of the company "valued at nearly" $10.4M. An SEC filing indicated that Plank "sold the shares between July 29 and Aug. 2 at prices ranging from $71.51 to $75.35." Plank "has been shedding shares of the Baltimore-based company for the past six months." His moves are "part of a pre-arranged stock plan he entered into in November to divest of up to 1.125 million shares of the company's Class B stock he owns over a 10-month period beginning this month." Sharrow noted the shares "make up about a tenth of Plank's stock in the company" (BIZJOURNALS.com, 8/3).