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NKE » Topics » Option Grants in the Fiscal Year Ended May 31, 2006

This excerpt taken from the NKE DEF 14A filed Aug 9, 2006.

Option Grants in the Fiscal Year Ended May 31, 2006

 

Name

  

Options Granted

(#) (1)

  

% of Total
Options Granted
to Employees

in Fiscal Year

  

Exercise or
Base Price

($/Share) (2)

  

Expiration

Date

   Potential Realizable Value
at Assumed Annual Rates
of Stock Price
Appreciation for Option
Term (3)
          5% ($)   10% ($)

Mark G. Parker

   70,000   1.2   $ 87.59   7/15/15   $ 3,855,941   $ 9,771,713
  125,000   2.2   $ 84.27   2/16/16   $ 6,885,610   $ 17,449,488

William D. Perez

   150,000   2.6   $ 87.59   7/15/15   $ 8,262,732   $ 20,939,385

Charles D. Denson

   70,000   1.2   $ 87.59   7/15/15   $ 3,855,941   $ 9,771,713
  100,000   1.7   $ 84.27   2/16/16   $ 5,508,488   $ 13,959,590

Gary M. DeStefano

   50,000   0.9   $ 87.59   7/15/15   $ 2,754,244   $ 6,979,795

Lindsay D. Stewart

   50,000   0.9   $ 87.59   7/15/15   $ 2,754,244   $ 6,979,795

Donald W. Blair

   33,000   0.6   $ 87.59   7/15/15   $ 1,817,801   $ 4,606,664
(1) The options shown in the table for Mr. Perez were to become exercisable with respect to 25% of the total number of shares on each first four anniversaries of the date of grant. Upon his termination by the Company without cause, the Compensation Committee vested 25% of the total number of shares, and such option expires on December 31, 2006. The other options shown in the table with the expiration date of July 15, 2015 become exercisable with respect to 25% of the total number of shares on each of July 15, 2006, 2007, 2008, and 2009. The options shown in the table with the expiration date of February 16, 2016 become exercisable with respect to 25% of the total number of shares on each of February 16, 2007, 2008, 2009, and 2010. All options for all individuals will become fully exercisable generally upon the approval by the Company’s shareholders of a merger, plan of exchange, sale of substantially all of the Company’s assets or plan of liquidation.

 

(2) The exercise price is the market price of Class B Stock on the date the options were granted.

 

(3) Assumed annual appreciation rates are set by the SEC and are not a forecast of future appreciation. The actual realized value depends on the market value of the Class B Stock on the exercise date, and no gain to the optionees is possible without an increase in the price of the Class B Stock. All assumed values are before taxes and do not include dividends.
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