Nike Inc – ‘8-K’ for 8/11/06

On:  Friday, 8/11/06, at 2:30pm ET   ·   For:  8/11/06   ·   Accession #:  320187-6-125   ·   File #:  1-10635

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Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Form 8-K - Gary Destefano                              3±    13K 
 2: EX-10       Exhibit 10.1 - Non-Compete                             5±    20K 
 3: EX-99       Exhibit 99 - Press Release                             2±    10K 

8-K   —   Form 8-K – Gary Destefano
Document Table of Contents

UNITED STATES     
SECURITIES AND EXCHANGE COMMISSION      
Washington, DC 20549        

FORM 8-K      

CURRENT REPORT      
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934        

Date of Report (Date of earliest event reported): August 7, 2006          

NIKE, INC.    

(Exact Name of Registrant as Specified in Charter)          

Oregon                  1-10635                 93-0584541        
____________             ____________             ____________          

(State of                  (Commission            (I.R.S.Employer         
Incorporation)            File Number)          Identification No.)       

One Bowerman Drive    
Beaverton, Oregon 97005-6453  

(Address of Principal Executive Offices)  
__________________________  

(503) 671-6453    

(Registrant's telephone number, including area code)  

Check the appropriate box below if the Form 8-K filing is intended to           
simultaneously satisfy the filing obligation of the registrant under any        
of the following provisions (See General Instruction A.2. below):               

[ ] Written communications pursuant to Rule 425 under the Securities Act        
(17 CFR 230.425)                                                        

[ ] Soliciting material pursuant to Rule 14a-12 under Exchange Act (17          
CFR 240.14a-12)                                                         

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the         
Exchange Act (17CFR 240.14d-2(b))                                       

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the         
Exchange Act (17 CFR 240.13e-4(c))                                      

___________________________ 

Item 5.02  Departure of Directors or Principal Officers; Election of            
Directors; Appointment of Principal Officers.             

On August 7, 2006, NIKE, Inc. (the "Company"), issued a press         
release announcing that Gary DeStefano has been appointed by the                
Company's Board of Directors to the position of President, Global               
Operations effective August 7, 2006.                                            

Mr. DeStefano, 49, has been employed by NIKE since 1982, with         
primary responsibilities in sales and regional administration. Mr.              
DeStefano was appointed Director of Domestic Sales in 1990, divisional          
Vice President in charge of domestic sales in 1992, Vice President of           
Global Sales in 1996, Vice President and General Manager of Asia Pacific        
in 1997, and President of USA Operations in 2001.                               

The press release issued on August 7, 2006 by the Company is          
attached hereto as Exhibit 99.1                                                 

In connection with his appointment, Mr. DeStefano and the Company     
executed a Covenant Not to Compete and Non-Disclosure Agreement dated           
August 9, 2006 (the "Agreement").                                               

The following description of the Agreement briefly summarizes the     
terms and conditions that are material to the Company, and is qualified         
in its entirety by reference to the full text of the Agreement which is         
filed as exhibit 10.1.                                                          

The Agreement between the Company and Gary DeStefano contains a       
covenant not to compete that extends for one year following the                 
termination of his employment with the Company.  The Agreement provides         
that if Mr. DeStefano's employment is terminated by the Company, the            
Company will make monthly payments to him during the one-year                   
noncompetition period in an amount equal to 1/12th of his then current          
annual salary and target annual bonus.  If Mr. DeStefano voluntarily            
resigns, the Company will make monthly payments to him during the one-          
year noncompetition period in an amount equal to 1/24th of his then             
current annual salary.  The Company may waive the covenant not to               
compete.  If the covenant is waived, the Company will not be required to        
make the payments described above for the months as to which the waiver         
applies.                                                                        

Item 9.01     Financial Statements and Exhibits.                                

(d)     Exhibits                                                                

10.1     Covenant Not to Compete and Non-Disclosure Agreement,    
dated August 7, 2006 between NIKE, Inc.         
and Gary DeStefano                              

99.1    Press Release dated August 7, 2006.                       

SIGNATURE                                                                       

Pursuant to the requirements of the Securities Exchange Act of 1934, the        
registrant has duly caused this report to be signed on its behalf by the        
undersigned hereunto duly authorized.                                           

    NIKE, Inc.
      (Registrant)

                     /s/ Donald W. Blair
Date: August 11, 2006             By: _______________________________           
                          Donald W. Blair,
                                 Chief Financial Officer

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘8-K’ Filing		Date		Other Filings
Filed on / For Period End:		8/11/06
		8/9/06		DEF 14A
		8/7/06		3,  3/A,  4
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