NEW YORK, December 31, 2025, 04:30 ET — Premarket
- Nike shares were little changed in premarket trading after an SEC filing showed CEO Elliott Hill bought stock in the open market.
- A separate filing showed co-founder Philip Knight received 4.5 million convertible Class A shares in a private distribution.
- Investors remain focused on whether Nike can rebuild margins and regain traction in China.
Nike shares were little changed in premarket trading on Wednesday after a regulatory filing showed Chief Executive Elliott Hill bought about $1 million of the sportswear maker’s stock. The shares were last down fractionally at $61.19.
The insider buying matters because investors often read open-market purchases by executives as a sign of confidence, especially when a company is trying to stabilize results. For Nike, that confidence test is playing out against a backdrop of margin pressure and uneven demand across regions.
It also lands on a thinly traded part of the calendar, with investors closing out the year and positioning for the New Year holiday. That can magnify day-to-day moves in heavily watched consumer names like Nike.
In a Form 4 — an SEC document insiders file to disclose stock transactions — Hill reported buying 16,388 shares of Nike Class B common stock on Dec. 29 at a weighted average price of $61.10. The filing showed the purchases were executed in multiple trades between $61.09 and $61.10, and left him with 241,587 shares. 1
Hill is both president and CEO, according to the filing. Investors often track insider activity closely when shares are near recent lows, since executives typically have a front-row view of demand, product cycles and inventory.
A separate Form 4 showed Nike co-founder and Chairman Emeritus Philip Knight acquired 4.5 million shares of Nike’s Class A common stock, which is convertible into Class B shares on a one-for-one basis. The filing said the shares were received in a private pro rata distribution from Swoosh, LLC. 2
The disclosures follow Nike’s most recent quarterly report, which highlighted the pressure points investors have been debating since the company’s reset began. Nike reported revenue of $12.427 billion for the quarter ended Nov. 30, and said gross margin fell 300 basis points — or 3 percentage points — to 40.6%, primarily due to higher tariffs in North America; net income fell 32% to $0.8 billion, with diluted earnings per share down 32% to $0.53. 3
On the same earnings cycle, Nike’s weak performance in China remained a key concern. “It is a concern that the China results continue to be so poor,” Morningstar analyst David Swartz said, as Nike faces sharper competition from newer brands such as On and Deckers’ Hoka. 4
That backdrop is likely to keep the focus on margin repair — including how quickly Nike can move past heavy discounting — and whether demand in China begins to stabilize. Investors are also watching whether the company’s product reset can translate into cleaner inventory and a firmer pricing environment.
U.S. stock markets are set to operate normal hours on New Year’s Eve, while bond markets close early at 2 p.m. ET, according to Barron’s. Markets will be closed on New Year’s Day. 5
