NKE » Topics » Director Compensation for Fiscal 2008
This excerpt taken from the NKE DEF 14A filed Aug 8, 2008.
Director Compensation for Fiscal 2008
Name
Fees Earned or Paid in Cash ($)
Option Awards (1) ($)
All Other Compensation (2) ($)
Total ($)
John G. Connors
$
66,000
$
59,093
$
11,500
$
136,593
Jill K. Conway
58,667
59,093
14,980
132,740
Timothy D. Cook
58,000
59,093
7,800
124,893
Ralph D. DeNunzio
89,333
73,866
30,620
193,819
Alan B. Graf, Jr.
80,333
59,093
300
139,726
Douglas G. Houser
64,500
73,866
5,300
143,666
Jeanne P. Jackson
65,000
59,093
5,300
129,393
Johnathan A. Rodgers
58,500
83,926
13,508
155,934
Orin C. Smith
77,166
59,093
20,300
156,559
John R. Thompson, Jr.
40,000
59,093
40,658
139,751
(1)
Represents the amount of compensation expense recognized under FAS 123R in fiscal 2008 with respect to annual director options granted in fiscal 2008 and fiscal 2007,
disregarding estimated forfeitures. Compensation expense is equal to the grant date fair value of the options estimated using the Black-Scholes option pricing model, and is recognized ratably over the one-year vesting period. On September 17,
2007, each listed director other than Messrs. DeNunzio and Houser was granted an option for 4,000 shares with an exercise price of $56.31 per share, which was the closing market price of our Class B Common Stock on the grant date. The
grant date fair value of each of these options was $54,000, or $13.50 per share covered by the option. On September 17, 2007, each of Messrs. DeNunzio and Houser was granted an option for 5,000 shares with an exercise price of $56.31
per share, which was the closing market price of our Class B Common Stock on the grant date. The grant date fair value of each of these options was $67,500, or $13.50 per share covered by the option. On November 16, 2006, Mr. Rodgers
was granted an option for 10,000 shares with an exercise price of $47.745 per share, which was the closing market price of our Class B Common Stock on November 15, 2006, the last trading day prior to the grant date. The grant date
fair value of this option was $99,400, or $9.94 per share covered by the option. The assumptions made in determining the grant date fair values of options under FAS 123R are disclosed in Note 10 of Notes to Consolidated Financial Statements in
our Annual Report on Form 10-K for the year ended May 31, 2008. As of May 31, 2008, non-employee directors held outstanding options for the following numbers of shares of our Class B Common Stock: Mr. Connors, 30,000;
Dr. Conway, 36,000; Mr. Cook, 22,000; Mr. DeNunzio, 53,000; Mr. Graf, 46,000; Mr. Houser, 15,000; Ms. Jackson, 48,000; Mr. Rodgers, 14,000; Mr. Smith, 38,000; and Mr. Thompson, 28,000.
(2)
Includes medical and life insurance premiums paid by us of $14,680 for Dr. Conway and $15,551 for Mr. Thompson. Also includes matching charitable
contributions by us under the NIKE Matching Gift
9
Program, under which directors are eligible to contribute to qualified charitable organizations and we provide a matching contribution to the charities in an
equal amount, up to $20,000 in the aggregate for each director annually. In fiscal 2008, we matched contributions to charities in the following amounts: Mr. Connors, $11,200, Mr. Cook, $7,500, Mr. DeNunzio, $20,000, Mr. Houser,
$5,000, Ms. Jackson, $5,000, and Mr. Smith, $20,000. Also includes commercial airfare for family members who accompanied Messrs. DeNunzio, Rodgers, and Thompson to a board meeting, in the amounts of $10,320, $13,208, and $24,807,
respectively. Also includes sample and test products we provided to directors during the fiscal year, the value of which we estimate at $300 for each director based on our incremental cost.
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