Nike Co-Founder Phil Knight Has Disposed of $3.1 Billion in NKE Stock Across 13,182 Transactions
Phil Knight's insider filing record spans 13,182 transactions since 2003 — the highest transaction count of any single insider in our database. Recent activity shows Class B to Class A conversions and gifts, not direct sales.
Phil Knight, co-founder and chairman emeritus of Nike (NKE), has filed 13,182 insider transactions since 2003 — the highest individual transaction count we track. His career dispositions total $3.1 billion, yet his recent filings tell a different story: no open-market sales since October 2020, with recent activity dominated by Class B to Class A share conversions and billion-dollar charitable gifts.
The Numbers
| Metric | Value |
|---|---|
| Career Sell Value | $3.1 billion |
| Total Transactions | 13,182 |
| First Transaction | Aug 15, 2003 |
| Last Transaction | Feb 2, 2026 |
| Shares Remaining | 27,479,487 |
| Career Buy Value | $0 |
Recent Activity
| Date | Type | Shares | Price | Est. Value |
|---|---|---|---|---|
| Feb 2, 2026 | Conversion | 4,500,000 | — | — |
| Feb 2, 2026 | Conversion | 4,500,000 | — | — |
| Dec 29, 2025 | Transfer | 4,500,000 | — | — |
| Jul 9, 2024 | Transfer | 3,600,000 | — | — |
| Jan 13, 2023 | Gift | 5,000,000 | — | ~$625M |
| Oct 2, 2020 | Sell | 800,000 | $125.31 | $100.2M |
Knight's most recent filing from February 2026 shows the conversion of 9 million Class B shares into Class A shares across two separate transactions. This follows a December 2025 transfer of 4.5 million shares and a massive 5-million-share gift in January 2023 worth approximately $625 million at the time. His last actual open-market sell was in October 2020: 800,000 shares at $125.31 for $100 million. He has not sold a single share on the open market in over five years.
What It Means
Despite the $3.1 billion career sell figure, Knight's 13,182 transactions are heavily skewed toward share class conversions, gifts, and transfers — not profit-taking. The majority of his filing volume comes from Nike's dual-class share structure, where Class B shares (10 votes each) convert to Class A (1 vote) upon transfer. Knight originally held a massive Class B stake that gave him majority voting control; the ongoing conversions suggest a gradual transition of his holdings into more liquid Class A shares, likely for estate planning and philanthropic purposes through the Knight Foundation. With 27.5 million shares remaining (worth approximately $2.2 billion at current NKE prices around $80), Knight still has one of the largest founder stakes in U.S. corporate history — though it's a far cry from the 100+ million shares he once controlled.
What to Watch
- Whether Knight resumes open-market sales after a five-year hiatus, which would be a significant sentiment signal given NKE's decline from $175+ to ~$80
- The pace of Class B-to-A conversions — accelerating conversions often precede larger dispositions or gifts
- Nike's turnaround efforts under CEO Elliott Hill and whether improving fundamentals prompt any change in Knight's filing pattern
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