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Nike’s Knight Sells $30 Million In Stock (NKE)

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By Douglas A. McIntyre Updated Published
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There were four separate filings today showing that co-founder and Chairman Philip Knight of Nike, Inc. (NYSE: NKE) filed to sell shares.  The trade dates were listed as April 8, 2008.  The four separate filings show a total of 465,000 Class B common shares with prices going from $67.43 to $67.08, then at $67.07 to $66.78, then $66.77 to $66.48, and finally then $66.47 to $66.38.  If we just take a simple rounded average, this appears to be a total share sale in the vicinity of $30 million.

Before pushing the panic switch, he does hold more than 2.6 million shares of Class B common stock. There is also more.   According to the last filing he also holds more than 95 million shares of the Class A Common Convertible shares.

Shares sit barely in negative territory today at $66.41.  The trading volume is also rather light at less than half a normal trading day.  Nike’s 52-week trading range is $51.50 to $70.60.

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Jon C. Ogg
April 9, 2008

Jon Ogg produces the Special Situation Investing Newsletter.  He can be reached at [email protected] and he does not own securities in the companies he covers.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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