What Do Under Armour CEO Kevin Plank's Stock Sales Mean?

CEO Kevin Plank sold 1.05 million shares of Under Armour (UAA) - Get Report  in a series of transactions from April 21 to April 29 of 2016. Six months later, Under Armour's growth began to slow. A wave of department store closures and the Sports Authority bankruptcy meant there were fewer places for shoppers to buy Under Armour gear.

In September, Under Armour disclosed Plank's intention to sell as many as 2.1 million shares via a prearranged stock trading plan. This week, Under Armour shares crashed by 22% following a disappointing holiday season. Plank's current Under Armour stake of 15.4% is worth about $649 million.

When Under Armour shares were at their 52-week high, Plank's stake was valued at about $1.62 billion.

This article was written by a staff member of TheStreet.