NIKE (NKE) CEO Hill Elliott Receives RSU Awards; Shares Withheld

What Happened

• Hill Elliott, President & CEO of NIKE, received equity awards on 2026-09-01: a grant of 108,400 restricted stock units (RSUs) and a second grant reported as 395,570 derivative awards (total 503,970 units). Both grants are reported at $0.00 per share (i.e., awards, not purchases).
• To satisfy tax withholding upon vesting, 9,462 shares were withheld/disposed at an effective price of $39.06 per share, totaling $369,586. This withholding is a company settlement of tax obligations, not an open-market sale.

Key Details

• Transaction date: 2026-09-01; Form 4 filed 2026-09-03 (filed two days after the transactions).
• Grants: 108,400 RSUs (F1) and 395,570 derivative awards (reported as a grant); both under NIKE’s Stock Incentive Plan per footnotes.
• Tax withholding: 9,462 shares withheld to satisfy tax liabilities (F3); reported disposal value = $369,586 (9,462 × $39.06).
• Ownership correction: Filing includes a correction increasing directly beneficially owned shares by 82.351 shares due to an administrative error in prior reports (F2).
• Vesting/terms: Footnotes indicate ordinary RSU/option terms — 25% vests on each of the first four anniversaries of the grant date (F1, F5). The withheld shares were used for tax purposes, not sold on the open market.
• Not a 10b5-1 sale or gift; no indication of a 10% owner transaction.

Context

• These are award grants (compensation), not purchases — routine for executives and generally part of long-term incentive pay rather than an immediate bullish purchase signal.
• The tax-withholding disposition is a standard cashless/withholding settlement at vesting; it should not be read as an opportunistic sale.