Form: 4

Statement of changes in beneficial ownership of securities

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SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP


Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
PEREZ WILLIAM D

(Last) (First) (Middle)
ONE BOWERMAN DRIVE

(Street)
BEAVERTON OR 97005

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
NIKE INC [ NKE ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
Former President and CEO
3. Date of Earliest Transaction (Month/Day/Year)
01/20/2006
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class B Common Stock 109,684 D
Class B Common Stock 270 I by ESPP
Class B Common Stock 68 I by Retirement Plan(1)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Qualified Stock Option (right to buy) $87.59 01/20/2006 A(2) 150,000 (2) 12/31/2006 Class B Common Stock 150,000 $0(2) 150,000 D
Non-Qualified Stock Option (right to buy) $87.59 01/20/2006 D(2) 150,000 (2) 07/15/2015 Class B Common Stock 150,000 $0(2) 0 D
Non-Qualified Stock Option (right to buy) $90.85 01/20/2006 A(3) 200,000 (3) 01/20/2009 Class B Common Stock 200,000 $0(3) 200,000 D
Non-Qualified Stock Option (right to buy) $90.85 01/20/2006 D(3) 200,000 (3) 12/28/2014 Class B Common Stock 200,000 $0(3) 0 D
Explanation of Responses:
1. Shares held in account under the NIKE, Inc. 401(K) and Profit Sharing Plan.
2. These two reported transactions involved an amendment of an outstanding option, resulting in the cancellation of the old option and the grant of a replacement option for purposes of this form. The option was originally granted on July 15, 2005 and becomes exercisable with respect to 25% of the shares on each of the first four anniversaries of the date of the grant. As amended, the option will vest for at least 25% of the shares notwithstanding earlier termination of employment, and will be exercisable until December 31, 2006 even though employment terminates more than three months before date.
3. These two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the old option and the grant of a replacement option. The option was originally granted on December 28, 2004 and becomes exercisable with respect to one-third of the shares on each of the first three anniversaries of the date of the grant; provided that if the corporation terminates employee without cause, or if employee terminates his employment for good reason, then upon termination any unvested shares shall immediately vest and the option shall expire on the earlier of three years after the date of termination or at the end of the ten-year term of the option. As amended, a resignation by employee results in the same acceleration and extension of the option as is the case for a termination without cause.
By: John F. Coburn III For: William D. Perez 01/24/2006
** Signature of Reporting Person Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.