FAIRFAX FINANCIAL HOLDINGS LTD/ CAN 4

What Happened

• Prem Watsa’s reporting entities (including Fairfax-related subsidiaries) made open-market purchases of Under Armour (UAA) stock (transaction code P) totaling 2,335,350 shares between Jan 22 and Jan 26, 2026, for aggregate proceeds of approximately $14,420,222. Purchases included 411,057 @ ~$6.15, 928,397 @ ~$6.15, 730,238 @ ~$6.18, and 265,658 @ ~$6.30. These were outright purchases (a buy/bullish signal in terms of direction, not a sale).

Key Details

• Transaction dates & amounts:
  • 2026-01-22: 411,057 shares at weighted avg ~$6.15 — $2,527,672 (Class C per footnote; price range $6.145–$6.150).
  • 2026-01-23: 928,397 shares at weighted avg ~$6.15 — $5,705,278 (Class C; price range $6.130–$6.150).
  • 2026-01-26: 730,238 shares at weighted avg ~$6.18 — $4,514,477 (Class C; price range $6.125–$6.200).
  • 2026-01-26: 265,658 shares at weighted avg ~$6.30 — $1,672,795 (Class A; price range $6.285–$6.300).
• Total purchased: 2,335,350 shares for ~$14.42M.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes: Securities held by wholly owned Fairfax subsidiaries; Prem Watsa is CEO/controlling person of Fairfax and disclaims beneficial ownership except to the extent of any pecuniary interest (see F2). Footnotes F1–F5 give price ranges per date/class and offer to provide detailed per-price breakdown to the SEC on request.
• Filing timeliness: Form filed Jan 26, 2026 for transactions dated Jan 22–26; appears timely under the Form 4 reporting window.

Context

• These filings are by 10% owners / institutional entities controlled by Prem Watsa (Fairfax-related), not routine executive trades; institutional purchases can reflect portfolio positioning rather than day-to-day insider sentiment.
• The report covers purchases of both Class C and Class A common shares (see footnotes). No options exercised, gifts, or sales were reported in this filing.