Nike's Mark Parker Sees Big Pay Bump Amid Workplace Issues
Nike Chair, President & CEO MARK PARKER earned nearly $14M in compensation for FY '19, a 48% increase from his FY '18 pay, according to documents cited by Matthew Kish of the PORTLAND BUSINESS JOURNAL. Parker's '19 compensation included nearly $1.7M in salary, $5M in "stock awards," more than $3M in stock options and more than $4M in "non-equity incentive compensation." Parker also "exercised stock options granted to him in previous years that netted him" $47M. Nike sales increased 7% to a "record" $39.1B in the fiscal year ending May 31. Parker's increased pay "comes amid continued questions about how Nike treats its workforce after a string of explosive news reports last year describe what some describe as a 'boys' club' culture at the sportswear giant." Nike "outlines the criteria used to set Parker's compensation" in its proxy statement, which includes a "mix of financial targets, such as revenue growth and earnings per share" (BIZJOURNALS.com, 7/23). WOMEN'S WEAR DAILY's Evan Clark noted in June, Nike logged Q4 sales of over $10B -- "breaking the 11-digit mark in a quarter for the first time." However, profits fell to $989M from $1.14B as Nike "spent more on marketing and product launches and weathered a higher tax bill" (WWD.com, 7/23).
CHARITY CASH: The PORTLAND BUSINESS JOURNAL's Kish noted Nike co-Founder & Chair Emeritus PHIL KNIGHT's private foundation "now holds" more than $1.9B in Nike stock. The Knight Foundation is controlled by Knight and his wife, PENNY. The two of them have made more than $2B in "lifetime charitable gifts and pledges." Since forming the Knight Foundation in '97, the Knights have used it to make $214M in gifts, according to an analysis of its tax filings, "including large gifts" to the Univ. of Oregon, Stanford and Oregon Health & Science Univ. (BIZJOURNALS.com, 7/23).