Nike Stock Plummets as CEO and Two Executives Buy Millions in Shares

NIKE, Inc. (NKE) disclosed that during its early-April trading window, key executives—including CEO Elliott Hill and board members Robert Holmes Swan and Timothy D. Cook—made consecutive open-market purchases of company shares. On April 13, CEO Hill bought approximately 23,000 Class B common shares at around $42 per share, investing about $1 million (roughly KRW 13 billion). Directors Swan and Cook also increased their direct and indirect holdings, acquiring about $500,000 (KRW 6.5 billion) worth of shares on April 7 and about $1.06 million (KRW 14 billion) on April 10, each at roughly $42 per share. The company said these transactions complied with Nike’s trading-window policy and related rules, which permit executive and director trading only during a restricted period following quarterly earnings announcements.

Recently, Nike’s stock has slid to an eight- to ten-year low after its third-quarter earnings, as slowing sales in China and guidance for future revenue declines weighed on investor sentiment. Several brokerages have since lowered their price targets and downgraded their ratings, reflecting the share price’s challenging performance. Nonetheless, some institutional investors are adding to their stakes and monitoring the company’s medium-to-long-term profitability recovery plan, which centers on cost reductions and restructuring.

Headquartered in Beaverton, Oregon, Nike is a global sportswear leader that designs, manufactures and distributes footwear, apparel and sporting goods worldwide, built on the strength of its iconic “Swoosh” brand. Under CEO Elliott Hill, the management team is executing a “turnaround” strategy—streamlining inventory, reorganizing distribution channels and optimizing cost structures—to address slowing sales, margin pressures and intensified competition.