NIKE, Inc. Reports Board and Executive Compensation Changes

Ticker: NKE · Form: 8-K · Filed: 2024-06-05T00:00:00.000Z

Sentiment: neutral

Topics: governance, executive-compensation, board-changes

Related Tickers: NKE

TL;DR

NIKE just shuffled its board and updated exec pay – effective June 1st.

AI Summary

NIKE, Inc. filed an 8-K on June 5, 2024, reporting changes related to its board of directors and executive compensation. Specifically, the filing details the departure of a director and the election of new directors, alongside updates to the compensatory arrangements for certain officers. These changes are effective as of June 1, 2024.

Why It Matters

Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: low — This filing reports routine corporate governance changes and executive compensation adjustments, which typically carry low immediate risk.

Key Players & Entities

FAQ

Who is the departing director from NIKE, Inc.'s board?

The filing does not specify the name of the departing director.

When were the new directors elected?

The filing indicates the election of new directors as part of the reporting period ending June 1, 2024.

What specific changes were made to executive compensation arrangements?

The filing states there are updates to compensatory arrangements of certain officers but does not detail the specific changes.

What is NIKE, Inc.'s state of incorporation?

NIKE, Inc. is incorporated in Oregon.

What is the fiscal year end for NIKE, Inc.?

NIKE, Inc.'s fiscal year ends on May 31.

From the Filing

0000320187-24-000024.txt : 20240605 0000320187-24-000024.hdr.sgml : 20240605 20240605161534 ACCESSION NUMBER: 0000320187-24-000024 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240601 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20240605 DATE AS OF CHANGE: 20240605 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NIKE, Inc. CENTRAL INDEX KEY: 0000320187 STANDARD INDUSTRIAL CLASSIFICATION: RUBBER & PLASTICS FOOTWEAR [3021] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 930584541 STATE OF INCORPORATION: OR FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10635 FILM NUMBER: 241022189 BUSINESS ADDRESS: STREET 1: ONE BOWERMAN DR CITY: BEAVERTON STATE: OR ZIP: 97005-6453 BUSINESS PHONE: 5036713173 MAIL ADDRESS: STREET 1: ONE BOWERMAN DR CITY: BEAVERTON STATE: OR ZIP: 97005-6453 FORMER COMPANY: FORMER CONFORMED NAME: NIKE INC DATE OF NAME CHANGE: 19920703 8-K 1 nke-20240601.htm 8-K nke-20240601 0000320187 false 0000320187 2024-06-01 2024-06-05 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 June 1, 2024 Date of Report (date of earliest event reported) NIKE, Inc. (Exact name of registrant as specified in its charter) Oregon 1-10635 93-0584541 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.) ONE BOWERMAN DRIVE BEAVERTON , OR 97005-6453 (Address of principal executive offices and zip code) ( 503 ) 671-6453 Registrant's telephone number, including area code NO CHANGE (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Class B Common Stock NKE New York Stock Exchange (Title of each class) (Trading Symbol) (Name of each exchange on which registered) Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On June 1, 2024, Alan B. Graf, Jr. notified NIKE, Inc. (the “Company”) of his decision to resign as a director of the Board of Directors of the Company (the “Board”) effective as of the date of the Company’s 2024 annual meeting of stockholders (the “2024 Annual Meeting”). As a result, Mr. Graf will not stand for re-election at the 2024 Annual Meeting. In connection with Mr. Graf’s retirement, the size of the Board will decrease to twelve directors, effective as of the 2024 Annual Meeting. Mr. Graf’s decision to resign is not because of a disagreement with the Company or the Board on any matter relating to the Company’s operation

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