Form 4: Nike Legal Officer Sells Shares Under 10b5-1 Plan

Nike's EVP and Chief Legal Officer, Robert Leinwand, sold 1,019 shares of Class B Common Stock for $74.64 per share under a pre-arranged 10b5-1 trading plan.

Summary

• Robert Leinwand, EVP and Chief Legal Officer of NIKE, Inc., reported a sale of company stock.
• On September 5, 2025, Mr. Leinwand disposed of 1,019 shares of Class B Common Stock.
• The shares were sold at a price of $74.64 per share.
• The transaction was executed under a Rule 10b5-1 trading plan, which was adopted on November 14, 2024.
• Following the transaction, Mr. Leinwand directly beneficially owns 44,855.2318 shares and indirectly owns 1,464 shares through a retirement plan.

Sentiment

Score: 5

Explanation: A neutral score as the transaction is a routine insider sale under a pre-arranged 10b5-1 plan, which is generally not indicative of new positive or negative company-specific news. It's a planned liquidity event for the executive.

Positives

• The transaction was conducted under a pre-arranged 10b5-1 trading plan, indicating a planned sale rather than an immediate reaction to new information.
• The reporting person still holds a significant number of shares, demonstrating continued alignment with shareholder interests.

Negatives

• An insider sale, even if pre-planned, can sometimes be perceived negatively by the market, as it reduces the insider's direct equity stake.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: A minor reduction in insider ownership, but under a pre-planned schedule, so unlikely to signal new information.

Key Dates

Recommendation

The reported transaction is a routine insider sale executed under a pre-arranged 10b5-1 trading plan. Such planned sales are generally not indicative of new material information about the company's performance or outlook. Therefore, this filing alone does not provide sufficient grounds to alter an existing investment thesis for Nike, warranting a 'hold' recommendation.

Keywords

Nike, NKE, Insider Trading, Form 4, Stock Sale, Robert Leinwand, 10b5-1 Plan, Executive Compensation