UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 20, 2005
NIKE, INC.
(Exact Name of Registrant as Specified in Charter)
Oregon 1-10635 93-0584541
____________ ____________ ____________
(State of (Commission (I.R.S.Employer
Incorporation) File Number) Identification No.)
One Bowerman Drive
Beaverton, Oregon 97005-6453
(Address of Principal Executive Offices)
__________________________
(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 Exchange Act (17
CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
___________________________
Item 1.01 Entry into a Material Definitive Agreement.
____________________________________________________
Amendment of Executive Performance Sharing Plan
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On June 16, 2005, the Board of Directors of NIKE, Inc. (the "Company")
approved amendments, as described below, to the Company's Executive
Performance Sharing Plan (the "Plan"), subject to the approval by the
Company's shareholders of the amendments at the Company's 2005 annual meeting
of shareholders held on September 20, 2005 (the "2005 Annual Meeting"). The
Plan provides that it will terminate at the first shareholder meeting that
occurs in the fifth fiscal year after the Company's shareholders last approved
the Plan. Accordingly, shareholder re-approval of the Plan at the 2005 Annual
Meeting was required to extend the Plan for an additional five years until the
fiscal 2011 annual meeting of shareholders. The amendments and the re-
approval were approved by the requisite vote of the Company's shareholders at
the 2005 Annual Meeting and became effective as of September 20, 2005.
Under the Plan amendments, the per-employee limit on annual bonuses under
the Plan was increased from (a) the lesser of 150% of base salary or $2
million to (b) the lesser of 200% of base salary or $5 million. A copy of the
Plan, as amended, is filed as Exhibit 10.1 hereto.
Amendment of 1990 Stock Incentive Plan
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On June 16, 2005, the Board of Directors of the Company approved
amendments, as described below, to the Company's 1990 Stock Incentive Plan
(the "1990 Plan"), subject to the approval by the Company's shareholders of
the amendments at the 2005 Annual Meeting. The amendments were approved by
the requisite vote of the Company's shareholders at the 2005 Annual Meeting
and became effective as of September 20, 2005.
Under the 1990 Plan amendments, an additional 16,000,000 shares of Class
B Common Stock was reserved for issuance under the 1990 Plan, thereby
increasing the total number of shares reserved for issuance under the 1990
Plan from 50,000,000 to 66,000,000 shares. Also under the 1990 Plan
amendments, the per-employee limit on grants of options and stock appreciation
rights under the 1990 Plan was increased from 200,000 shares to 400,000 shares
annually. A copy of the 1990 Plan, as amended, is filed as Exhibit 10.2
hereto.
Item 9.01 Financial Statements and Exhibits.
___________________________________________
(c) Exhibits
10.1 Executive Performance Sharing Plan.
10.2 1990 Stock Incentive Plan.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NIKE, INC.
(Registrant)
Date: September 26, 2005 By: /s/ Donald W. Blair
___________________________________
Donald W. Blair
Chief Financial Officer
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