Nike (NKE) director sells 49% LP stake tied to 2.3M Class B shares

Rhea-AI Filing Summary

NIKE, Inc. director Travis A. Knight reported an internal restructuring of his indirect holdings of NIKE Class B Common Stock. A partnership called Three Strings Investors, L.P., which holds NIKE shares, sold a 49% limited partnership interest to The Travis A. Knight 2012 Irrevocable Children's Trust for $288,317,000. That 49% interest is attributable to 2,300,480 shares of Class B Common Stock, valued using the average of the high and low share prices on the transaction date. Knight assigned his remaining partnership interest to his revocable trust, and following these changes he holds NIKE shares directly and indirectly through both the partnership and a GRAT rather than through direct market trades.

Insights

Insider transactions analyst

Knight restructured a large indirect NIKE stake via trusts, not market trading.

The filing shows Travis A. Knight changing how he owns NIKE shares rather than buying or selling them in the market. A 49% limited partnership interest in Three Strings Investors, L.P., tied to 2,300,480 Class B shares, was sold to an irrevocable children's trust for $288,317,000.

The remaining partnership interest moved to Knight's revocable trust, and he disclaims beneficial ownership of shares held by Three Strings except for his pecuniary interest. Total reported positions include 33,940 shares held directly, 4,694,859 indirectly by partnership, and 4,805,141 indirectly by GRAT. Overall, this looks like estate and ownership structuring with neutral implications for NIKE.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Knight Travis A

Role Director

Type	Security	Shares	Price	Value
Other	Class B Common Stock	2,300,480	$0.00	--
Other	Class B Common Stock	2,300,480	$0.00	--
holding	Class B Common Stock	--	--	--
holding	Class B Common Stock	--	--	--

Holdings After Transaction: Class B Common Stock — 4,694,859 shares (Indirect, by Partnership); Class B Common Stock — 33,940 shares (Direct)

Footnotes (1)

1. 2,300,480 is the number of shares of Class B Common Stock attributable to a 49% limited partnership interest in Three Strings Investors, L.P. ("Three Strings") as of April 2, 2026, the date of the transaction described in footnotes (2) and (3) below in which the reporting person sold a 49% limited partnership interest in Three Strings. These shares are owned by Three Strings, for which the reporting person has the right to remove and replace the sole general partner. Prior to April 2, 2026 (the "Transaction Date"), the reporting person owned, directly or indirectly, 100% of the economic interests in Three Strings. On the Transaction Date, the reporting person sold a 49% limited partnership interest in Three Strings to The Travis A. Knight 2012 Irrevocable Children's Trust u/a/d 12/13/2012 (the "Children's Trust"), a trust for the benefit of the reporting person's children and for which the reporting person is the sole trustee. The purchase price for this 49% limited partnership interest in Three Strings was $288,317,000 (cont. in footnote (3)). Due to a 1000 character limit, footnote (3) is a continuation of footnote (2): The shares represent a minority of the value of all assets held by Three Strings as of the Transaction Date, and in determining the purchase price for the limited partnership interest, the average of the high and low prices of the Class B Common Stock of the issuer on the Transaction Date was used to value the shares of Class B Common Stock attributable to the 49% limited partnership interest. Also on the Transaction Date, the reporting person assigned his remaining interest in Three Strings to The Travis A. Knight Revocable Trust u/a/d 12/13/2013, a revocable trust for which the reporting person is the grantor, trustee, and beneficiary. The reporting person disclaims beneficial ownership of the issuer's common stock held by Three Strings except to the extent of his pecuniary interest therein.

Key Figures

LP interest sale price: $288,317,000 Shares tied to 49% LP interest: 2,300,480 shares Indirect holdings by partnership: 4,694,859 shares +3 more

6 metrics

LP interest sale price $288,317,000 Purchase price for 49% limited partnership interest in Three Strings

Shares tied to 49% LP interest 2,300,480 shares Class B Common Stock attributable to 49% interest as of April 2, 2026

Indirect holdings by partnership 4,694,859 shares Class B Common Stock held indirectly by partnership after transaction

Indirect holdings by GRAT 4,805,141 shares Class B Common Stock held indirectly by GRAT after transaction

Direct holdings 33,940 shares Class B Common Stock held directly after transaction

Restructured shares via J code 4,600,960 shares Shares involved in restructuring transactions classified as other (J)

Key Terms

limited partnership interest, Irrevocable Children's Trust, GRAT, pecuniary interest, +1 more

5 terms

limited partnership interest financial

"sold a 49% limited partnership interest in Three Strings"

Irrevocable Children's Trust financial

"The Travis A. Knight 2012 Irrevocable Children's Trust u/a/d 12/13/2012"

GRAT financial

"assigned his remaining interest in Three Strings to The Travis A. Knight Revocable Trust ... and shares held indirectly by GRAT"

pecuniary interest financial

"disclaims beneficial ownership ... except to the extent of his pecuniary interest therein"

Class B Common Stock financial

"2,300,480 is the number of shares of Class B Common Stock attributable"

A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Knight Travis A

(Last) (First) (Middle)

ONE BOWERMAN DRIVE

(Street)

BEAVERTON OREGON 97005

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
NIKE, Inc. [ NKE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/02/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class B Common Stock	04/02/2026		J		2,300,480(1)	D	(2)(3)	4,694,859(2)(3)	I	by Partnership(2)(3)
Class B Common Stock	04/02/2026		J		2,300,480(1)	A	(2)(3)	4,694,859(2)(3)	I	by Partnership(2)(3)
Class B Common Stock								33,940	D
Class B Common Stock								4,805,141	I	by GRAT

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. 2,300,480 is the number of shares of Class B Common Stock attributable to a 49% limited partnership interest in Three Strings Investors, L.P. ("Three Strings") as of April 2, 2026, the date of the transaction described in footnotes (2) and (3) below in which the reporting person sold a 49% limited partnership interest in Three Strings.

2. These shares are owned by Three Strings, for which the reporting person has the right to remove and replace the sole general partner. Prior to April 2, 2026 (the "Transaction Date"), the reporting person owned, directly or indirectly, 100% of the economic interests in Three Strings. On the Transaction Date, the reporting person sold a 49% limited partnership interest in Three Strings to The Travis A. Knight 2012 Irrevocable Children's Trust u/a/d 12/13/2012 (the "Children's Trust"), a trust for the benefit of the reporting person's children and for which the reporting person is the sole trustee. The purchase price for this 49% limited partnership interest in Three Strings was $288,317,000 (cont. in footnote (3)).

3. Due to a 1000 character limit, footnote (3) is a continuation of footnote (2): The shares represent a minority of the value of all assets held by Three Strings as of the Transaction Date, and in determining the purchase price for the limited partnership interest, the average of the high and low prices of the Class B Common Stock of the issuer on the Transaction Date was used to value the shares of Class B Common Stock attributable to the 49% limited partnership interest. Also on the Transaction Date, the reporting person assigned his remaining interest in Three Strings to The Travis A. Knight Revocable Trust u/a/d 12/13/2013, a revocable trust for which the reporting person is the grantor, trustee, and beneficiary. The reporting person disclaims beneficial ownership of the issuer's common stock held by Three Strings except to the extent of his pecuniary interest therein.

	/s/ Kelsey A. Baldwin, attorney-in-fact for Mr. Knight	04/06/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Travis A. Knight report at NIKE (NKE)?

Travis A. Knight reported an internal restructuring of his NIKE holdings. A partnership holding NIKE Class B shares sold a 49% limited partnership interest to his children’s irrevocable trust, and his remaining partnership interest was assigned to his revocable trust.

How many NIKE shares were tied to the 49% partnership interest in this Form 4?

The 49% limited partnership interest in Three Strings Investors, L.P. was attributable to 2,300,480 shares of NIKE Class B Common Stock, based on the partnership’s holdings as of the transaction date and the valuation method described in the footnotes.

What was the purchase price for the 49% limited partnership interest related to NIKE (NKE)?

The 49% limited partnership interest in Three Strings Investors, L.P., which holds NIKE shares, was sold for $288,317,000. The value of the NIKE Class B shares attributable to this stake used the average of the high and low share prices on the transaction date.

Did Travis A. Knight directly buy or sell NIKE (NKE) shares in this Form 4?

No direct open-market share purchases or sales occurred. Instead, Knight sold a 49% limited partnership interest in a partnership that owns NIKE shares to a children’s trust and transferred his remaining partnership interest to a revocable trust, changing ownership structure only.

What are Travis A. Knight’s NIKE holdings after this restructuring?

After the restructuring, Knight reports 33,940 NIKE Class B shares held directly, 4,694,859 shares held indirectly through a partnership, and 4,805,141 shares held indirectly through a GRAT, reflecting both direct and multiple trust-related ownership channels in the filing.

How were the NIKE shares valued for the partnership interest sale in this filing?

For valuing the NIKE Class B shares tied to the 49% limited partnership interest, the filing states that the average of the high and low market prices on the transaction date was used. This valuation contributed to the total $288,317,000 purchase price.