NIKE, Inc. — Director's Dealing 2011

Apr 4, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NIKE INC (nke)
CIK: 0000320187
Period of Report: 2011-03-31

Reporting Person: KNIGHT PHILIP H (Chairman of the Board, 10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-03-31	Class A Common Convertible	$	G	2395981	Acquired		Class B Common Stock (2395981)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class B Common Stock	7740	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Class A Common Convertible	$		Class B Common Stock (130448)	130448	Indirect

Footnotes

F1: Class A Common Stock is convertible at any time on a one-for-one basis into Class B Common Stock with no expiration date.

F2: On March 31, 2011, a disbursement of Class A Common Stock was made by the Trustee of the Philip H. Knight 2009 Annuity Trust N1, N2 and N3 to the reporting person as follows: (i) 1,063,471 shares of Class A Common Stock from the Trustee of the Philip H. Knight 2009 Annuity Trust N1 to Philip H. Knight; (ii) 768,142 shares of Class A Common Stock from the Trustee of the Philip H. Knight 2009 Annuity Trust N2 to Philip H. Knight; and (iii) 564,368 shares of Class A Common Stock from the Trustee of the Philip H. Knight 2009 Annuity Trust N3 to Philip H. Knight. Each trust is a grantor retained annuity trust ("GRAT") and the disbursement is an annuity payment pursuant to the terms of each GRAT.

F3: Shares held by a corporation owned by wife. The reporting person disclaims beneficial ownership of these securities and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.