Summary
NIKE, Inc. announced on April 21, 2014, a significant addition to its Board of Directors with the appointment of Michelle A. Peluso, effective April 17, 2014. Ms. Peluso brings extensive experience in e-commerce and consumer marketing, having served as CEO of Gilt and holding key leadership roles at Citigroup and Travelocity. Her appointment is expected to bolster the company's digital and consumer engagement strategies. The filing also details modifications to the company's standard director compensation program. Effective April 17, 2014, the initial equity award for new directors will transition from stock options to restricted stock valued at $160,000. Furthermore, a change to the annual director award, also shifting from stock options to restricted stock, will take effect on June 1, 2014. Ms. Peluso was granted 2,162 shares of Class B Common Stock upon her appointment, subject to a one-year vesting period.
Key Highlights
- 1Michelle A. Peluso appointed to NIKE's Board of Directors, effective April 17, 2014.
- 2Ms. Peluso's background includes CEO role at Gilt and senior positions at Citigroup and Travelocity, suggesting a focus on digital and consumer strategies.
- 3Ms. Peluso will serve on the Audit Committee and the Corporate Responsibility and Sustainability Committee.
- 4NIKE is modifying its director compensation program, shifting equity awards from stock options to restricted stock.
- 5The initial equity award for new directors will be $160,000 in restricted stock, effective April 17, 2014.
- 6The annual director award will also transition to restricted stock, effective June 1, 2014.
- 7Ms. Peluso received an initial award of 2,162 shares of Class B Common Stock, subject to forfeiture if service terminates before one year.