SEC Form 4 · accession 0000320187-16-000278
NIKE, Inc. · NKE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Philip H Knight
Director · 10% Owner
Period of report
Apr 22, 2016
Accepted (ET)
Apr 26, 2016 · 2:53 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000320187
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class B Common Stock | holding | — | — | — | 30,960 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Class A Common ConvertibleF2,F1 | — | Apr 22, 2016 | G | 3,293,973 | A | — | — | Class B Common Stock | 3,293,973 | 48,254,487 | D |
| Class A Common ConvertibleF4,F1 | — | holding | — | — | — | — | — | Class B Common Stock | 257,000,000 | 257,000,000 | I |
| Class A Common ConvertibleF5,F1 | — | holding | — | — | — | — | — | Class B Common Stock | 521,792 | 521,792 | I |
Explanation of responses
- F1Class A Common Stock is convertible at any time on a one-for-one basis into Class B Common Stock with no expiration date.
- F2Pursuant to Company policy, market transactions in Company stock by officers and directors are permitted only after the second full trading day after the release of quarterly earnings and ending on the last day of the second month of the following fiscal quarter, except pursuant to approved 10b5-1 trading plans.
- F3On April 22, 2016, a disbursement of 3,293,973 shares of Class A Common Stock was made by the Trustee of the Philip H. Knight 2014 Annuity Trust N14-II to the reporting person. The trust is a grantor retained annuity trust ("GRAT") and the disbursement is an annuity payment pursuant to the terms of the GRAT.
- F4Shares are held by Swoosh, LLC, a Delaware limited liability company ("Swoosh"), which is managed by a board of directors consisting of five board seats (the "Swoosh Board"). Pursuant to the Amended and Restated Limited Liability Company Agreement of Swoosh (the "Swoosh Agreement"), two of the five seats on the Swoosh Board are classified as Class X Board Seats and are filled by vote of the Class X Units of Swoosh, all of which are owned by the Reporting Person. The other three Swoosh board seats are held by directors who are self-electing (the "Independent Directors"). The reporting person currently holds one of the Class X Board Seats. At least two Independent Directors and a director holding a Class X Board Seat constitute a quorum at a meeting of the Swoosh Board, and board action requires the approval of a majority of votes cast at a meeting at which a quorum is present. (Footnote continuation in "REMARKS" below)
- F5Shares held directly by spouse, Penelope P. Knight. The reporting person disclaims beneficial ownership of these securities and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.
Remarks
(Footnote #4 continuation) The foregoing description of the Swoosh Agreement and the Swoosh Board is qualified in its entirety by reference to the Schedule 13D filed by Swoosh on June 30, 2015, as amended on December 31, 2015. The reporting person disclaims beneficial ownership of all securities held by Swoosh, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.