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PART II
PART II
ITEM 5. Market for Registrant’s Common Equity,
Related Stockholder Matters and Issuer
Purchases of Equity Securities
NIKE’s Class B Common Stock is listed on the New York Stock Exchange
and trades under the symbol NKE. At July 15, 2016, there were 23,196
holders of record of our Class B Common Stock and 16 holders of record of
our Class A Common Stock. These figures do not include beneficial owners
who hold shares in nominee name. The Class A Common Stock is not
publicly traded but each share is convertible upon request of the holder into
one share of Class B Common Stock. Refer to Selected Quarterly Financial
Data in Part II, Item 6 of this Report for information regarding quarterly high
and low sales prices for the Class B Common Stock as reported on the New
York Stock Exchange Composite Tape, and dividends declared on the Class
A and Class B Common Stock.
During the third quarter of fiscal 2016, the Company concluded its four-year,
$8 billion share repurchase program approved by the Board of Directors in
September 2012. Under this program the Company purchased a total of
197.1 million shares at a cost of $8 billion (an average price of $40.58 per
share). Following the completion of this program, the Company began
repurchases under the new four-year, $12 billion program approved by the
Board of Directors in November 2015. As of the end of the fourth quarter of
fiscal 2016, the Company had repurchased 20.1 million shares at an average
price of $59.21 per share for a total approximate cost of $1.2 billion under the
new program. We intend to use excess cash, future cash from operations
and/or proceeds from debt to fund repurchases under the share repurchase
program.
The following table presents a summary of share repurchases made by NIKE under these programs during the quarter ended May 31, 2016:
Period
Total Number of
Shares Purchased
Average Price
Paid per Share
Total Number of Shares
Purchased as Part of Publicly
Announced Plans or Programs
Maximum Number (or Approximate
Dollar Value) of Shares that May
Yet Be Purchased Under the
Plans or Programs
(In millions)
March 1 — March 31, 2016 2,923,173 $ 61.04 2,923,173 $ 11,173
April 1 — April 30, 2016 4,328,107 $ 59.69 4,328,107 $ 10,914
May 1 — May 31, 2016 1,765,373 $ 58.47 1,765,373 $ 10,811
9,016,653 $ 59.89 9,016,653
70