Under Armour Inc. said Monday it will change the ticker symbols of its class A and class C common shares, whose prices are separated by a wide spread.

The two share classes are listed on the New York Stock Exchange, but unlike the class A stock, Under Armour's class C stock doesn't come with voting rights.

The ticker symbol for the company's class A common stock will change from UA to UAA. The ticker symbol for the company's class C common stock will change from UA.C to UA. The changes, which The Wall Street Journal had previously reported, are effective Dec. 7.

A lack of voting power could naturally lead to a discount, but as of Friday, Under Armour's C shares were trading at a 22% discount to A shares. Other companies with similar structures—like Viacom Inc. and Google parent Alphabet Inc.—don't exhibit such a spread.

In morning trading, Under Armour's C shares rose 3.1% to $24.88, still below A shares, which edged down 0.2% to $30.36.

Under Armour founder and Chief Executive Kevin Plank holds all of the B shares, giving him 65.3% of the vote, according to the company's latest proxy filing.

Write to Joshua Jamerson at joshua.jamerson@wsj.com

(END) Dow Jones Newswires

November 28, 2016 10:25 ET (15:25 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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