By Josh Beckerman
Nike Inc. Chief Executive Mark Parker's total compensation for
the year ended May 31 was valued at $16.8 million, up from $14.7
million the previous year.
Mr. Parker's base salary remained at $1.55 million. The largest
component of Mr. Parker's pay was nonequity incentive plan
compensation of $8.3 million.
The company said in a proxy filing that its results last year
exceeded the financial targets used to determine performance-based
compensation.
Nine years ago, Nike founder Phil Knight handed day-to-day
management to Mr. Parker. Last month, Mr. Knight said he plans to
step down as chairman next year and endorsed Mr. Parker to succeed
him.
The company said on June 25 that it recorded a 4.8% increase in
sales for the May 31 quarter, though continued pressure from a
stronger dollar weighed on revenue growth and future orders. It
posted a 24% profit increase as tax costs fell and margins
improved.
Nike derives most of its income from North America, but more
than half of its sales are further afield, where economic and
foreign-exchange pressures weighed on its performance.
Nike has benefited from cultural trends that favor its products,
including the rise of athletically styled footwear and clothes
among consumers that aren't necessarily planning a workout, known
as athleisure.
Write to Josh Beckerman at josh.beckerman@wsj.com
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