Nike, Inc. management check
NKE · Consumer Discretionary · Apparel, Accessories & Luxury Goods · CEO Elliott Hill
Filings as of
2 good · 4 to watch · 1 flagged, across the seven questions below.
- Flag
Have owners done well?
Trailed its chosen peers$100 invested at the start of fiscal 2022 grew to $36, against $48 for the peer group the company picked itself.
- Watch
Does pay follow performance?
Pay only loosely tracked returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.25 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Watch
What does the CEO cost owners?
1.2% of net income$36.3m of reported pay in fiscal 2026, against $3.1bn of net income.
- Watch
Do they own the stock?
CEO stake ≈ 0.4 years of payThe CEO holds 368,094.586 shares, directly or through trusts (unvested awards not counted): about 0.4 years of pay. Light activity: no buys, $1.6m sold in six months. 8 of 9 sales ran on pre-arranged 10b5-1 plans.
- Good
Are owners being diluted?
Share count shrinkingDiluted shares changed -1.6% a year over the last three fiscal years. Stock-based pay was 1.5% of revenue in the latest year.
- Watch
Is leadership stable?
2 CEOs in the pay tableCEOs in the pay table: John Donahoe II, Elliott Hill. 11 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Consumer Discretionary.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 19 | 70 | |
| Pay for performance | 62 | 79 | |
| CEO cost | 44 | 44 | |
| Skin in the game | 13 | 36 | |
| Dilution | 70 | 74 | |
| Stable leadership | 30 | 80 | |
| Clean books | 100 | 100 |
Closest peers
Others in Apparel, Accessories & Luxury Goods, by management score. Nike, Inc. is 42nd of 47 in its sector.
- 46LULULululemon Athletica81
- 52TPRTapestry, Inc.80
- 106RLRalph Lauren Corporation76
- 437NKENike, Inc.48
- 438YUMYum! Brands48
- 439LENLennar48
Pay versus performance
From the proxy statement filed July 15, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2026 | Elliott Hill | $36.3m | $19.3m | $12.7m | $36 | $48 | $3.1bn |
| 2025 | Elliott Hill, John Donahoe II | $28.4m | $17.0m | $12.1m | $65 | $81 | $3.2bn |
| 2024 | John Donahoe II | $29.2m | $13.2m | $9.8m | $100 | $125 | $5.7bn |
| 2023 | John Donahoe II | $32.8m | $29.4m | $10.1m | $110 | $117 | $5.1bn |
| 2022 | John Donahoe II | $28.8m | $19.6m | $9.2m | $122 | $120 | $6.0bn |
The board says pay is tied most to Adjusted Revenue. Its other key measures: Adjusted EBIT, Stock price.
Insiders and the CEO's stake
Elliott Hill (PRESIDENT & CEO) held 368,094.586 shares directly after their latest Form 4 on Oct 14, 2026, roughly $13.0m at that filing's price.
Light activity: no buys, $1.6m sold in six months. 8 of 9 sales ran on pre-arranged 10b5-1 plans.
- SoldPhilip McCartneyEVP: CHIEF INN,PROD&DSG OFCR · 10b5-1 plan$921kSep 9, 2026
- SoldAmy MontagnePRESIDENT, NIKE$205kAug 7, 2026
- SoldVenkatesh AlagirisamyEVP: CHIEF OPERATING OFFICER · 10b5-1 plan$175kSep 9, 2026
- SoldRobert LeinwandEVP: Chief Legal Officer · 10b5-1 plan$171kSep 9, 2026
Leadership and governance on file
- Sep 16, 2026Leadership change8-K 5.02
- Sep 10, 2026Leadership change8-K 5.02
- Aug 10, 2026Leadership change8-K 5.02
- Jun 23, 2026Leadership change8-K 5.02
- Jun 18, 2026Leadership change8-K 5.02
- Dec 2, 2025Leadership change8-K 5.02
- Sep 11, 2025Leadership change8-K 5.02
- Jun 18, 2025Leadership change8-K 5.02
- May 5, 2025Leadership change8-K 5.02
- Sep 19, 2024Leadership change8-K 5.02
- Jun 5, 2024Leadership change8-K 5.02
- May 24, 2023Leadership change8-K 5.02
Latest shareholder vote results: Sep 10, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $27.6bn returned to owners in buybacks and dividends, 119% of net income, and $3.6bn of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $46.7bn | $51.2bn | $51.4bn | $46.3bn | $46.4bn |
| Net income | $6.0bn | $5.1bn | $5.7bn | $3.2bn | $3.1bn |
| Stock-based pay | $638.0m | $755.0m | $804.0m | $709.0m | $715.0m |
| Buybacks | $4.0bn | $5.5bn | $4.3bn | $3.0bn | $146.0m |
| Dividends | $1.8bn | $2.0bn | $2.2bn | $2.3bn | $2.4bn |
| Diluted shares | 1611m | 1570m | 1530m | 1488m | 1481m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.