NEW YORK (AP) -- Nike Inc. Chairman Philip H. Knight sold 157,182 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Friday.
In a Form 4 filed with the SEC, the head of the world's largest shoemaker reported he sold the shares Jan. 4 for between $97.50 and $98.95 apiece.
The stock sale was conducted under a prearranged 10b5-1 trading plan which allows a company insider to set up a program in advance for such transactions and proceed with them even if he or she comes into possession of material non-public information.
Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.
Nike is based in Beaverton, Ore.
http://biz.yahoo.com/ap/070108/nike_insider_sale.html?.v=1
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