Amy Montagne

About Amy Montagne

Amy Montagne, 53, is President, Nike, appointed in May 2025. She joined NIKE in 2005 and now leads consumer strategy across all sports and future growth for the Nike Brand, after prior VP/GM roles spanning APLA, Global Men’s, Global Categories, Global Women’s, Global Merchandising, and leadership in North America, Running, Women’s Training, and Sportswear; her earlier career included allocation/planning/merchandising at Gap Inc., Mervyn’s, and Walmart . Company performance metrics tied to executive incentives saw the fiscal 2025 annual cash plan pay out at 0% (Adjusted Revenue $46.4B and Adjusted EBIT $3.5B below threshold) and the FY2023–FY2025 PSUs earn 0% on Relative TSR (4th percentile), underscoring rigorous pay-for-performance alignment .

Past Roles

Organization	Role	Years	Strategic Impact
NIKE	VP/GM, APLA; Global Men’s; Global Categories; Global Women’s; Global Merchandising; leadership roles in North America, Running, Women’s Training, Sportswear	2005–2025	Led category/geography P&Ls and merchandising; consumer and sport offense execution
NIKE	VP/GM Global Women’s	Through May 2025	Drove NIKE Well Collective brand and women’s consumer strategy (referenced in earnings commentary)
NIKE	President, Nike	May 2025–present	Oversees consumer across all sports; growth agenda in “Win Now” plan

External Roles

Organization	Role	Years
Gap Inc.	Allocation/Planning/Merchandising	Pre-2005
Mervyn’s	Allocation/Planning/Merchandising	Pre-2005
Walmart Inc.	Allocation/Planning/Merchandising	Pre-2005

Fixed Compensation

Not separately disclosed for Amy Montagne in the latest proxy. NIKE’s executive pay framework: base salary plus annual PSP bonus target and long-term incentives (PSUs 50%, stock options 35%, RSUs 15%). Stock options and RSUs vest over four years (RSUs moved from three to four years in FY2025 for NEOs; retirement/involuntary termination provisions added across equity awards to promote retention) .

Performance Compensation

Annual PSP (Company-wide structure and FY2025 outcome)

Metric	Weighting	Target	Actual	Payout	Vesting
Adjusted Revenue	50%	Target set ~3% below FY2024 revenue (threshold/maximum around target)	$46.4B	0%	1-year performance period
Adjusted EBIT	50%	Target ~8% below FY2024 EBIT (non-equidistant max for upside)	$3.5B	0%	1-year performance period

PSUs (Relative TSR and People & Planet Modifier)

Award	Metric	Weighting in LTI	Target	Actual	Payout	Vesting
FY2025–FY2027 PSUs	Relative TSR vs S&P 500; 20-pt People & Planet modifier if ≥threshold	50% of LTI	55th percentile earns 100%; capped at 100% if Absolute TSR negative	In progress	TBD	3-year performance period (Sep 1, 2024–Aug 31, 2027), vests Sep 1, 2027
FY2023–FY2025 PSUs	Relative TSR vs S&P 500; People & Planet modifier	50% of LTI	≥25th percentile threshold	4th percentile	0%	3-year period (FY2023–FY2025)

Equity Ownership & Alignment

Beneficial Ownership and Guidelines

Item	Detail
Direct Class B shares	19,466
Indirect via 401(k)	1,067 Class B shares
Shares outstanding (Jul 9, 2025)	Class A 288,887,752; Class B 1,188,015,740
Ownership % of Class B	~0.0017% of Class B (19,466 + 1,067 divided by 1,188,015,740)
Executive stock ownership guideline	3x base salary for non-CEO executive officers; compliance required within 5 years
Hedging/pledging	Hedging/short sales prohibited; pledging requires pre-approval with safeguards

Options Inventory (Form 3 reported)

Grant (per Form 3 notes)	Shares	Exercise Price	Expiration	Vesting Terms
07/20/2017 NQSO	15,000	$59.10	07/20/2027	25% annually over 4 years (past grants)
08/01/2018 NQSO	30,000	$77.54	08/01/2028	25% annually over 4 years
08/01/2019 NQSO	36,095	$83.12	08/01/2029	25% annually over 4 years
08/01/2020 NQSO	30,760	$97.61	08/01/2030	25% annually over 4 years
08/01/2021 NQSO	18,485	$167.51	08/01/2031	25% annually over 4 years
08/01/2022 NQSO	22,272	$114.30	08/01/2032	25% annually over 4 years
08/01/2023 NQSO	31,100	$109.40	08/01/2033	25% annually over 4 years
09/01/2024 NQSO	42,008	$83.32	09/01/2034	25% annually over 4 years

Notes:

Form 3 filed June 27, 2025 lists current beneficial holdings and option grants; vesting schedules summarized in the filing’s explanatory notes .
RSUs/PSUs are not itemized in Form 3; executive RSUs generally vest over four years and PSUs earn on three-year Relative TSR performance periods beginning FY2025 awards (company-wide program) .

Employment Terms

Role start date: President, Nike effective May 2025 .
Non-compete: NIKE pays monthly benefits during the post-termination restriction period in exchange for executive non-compete agreements .
Change-in-control: Double-trigger acceleration for equity (PSUs, options, RSUs); PSP does not accelerate on change-in-control .
Clawback: Dodd-Frank compliant recoupment policy for erroneously awarded incentive compensation over the prior three years; additional clawbacks embedded in PSP and equity awards for misconduct or covenant breaches .
Hedging/pledging: Hedging and short sales prohibited; pledging requires pre-approval under the Blackout and Pre-clearance Policy .

Investment Implications

Pay-for-performance discipline: FY2025 PSP paid 0% and FY2023–FY2025 PSUs paid 0%, signaling uncompromising linkage of variable pay to revenue, EBIT, and TSR performance; this curtails realized cash/equity for executives when results underperform and reduces near-term selling pressure from performance vesting .
Alignment and retention: Significant option inventory with 2017–2024 grants at strike prices ranging from ~$59 to ~$168 creates multi-year alignment with share price appreciation; four-year vesting across options/RSUs and three-year PSU cycles, plus non-compete payouts, bolster retention incentives during NIKE’s “Win Now” turnaround .
Governance safeguards: Double-trigger CIC vesting, strict hedging/pledging policies, and robust clawbacks mitigate shareholder risk of misaligned outcomes or opportunistic behavior; stock ownership guidelines (3x salary) further align executives with investors .
Execution risk: Montagne’s remit spans consumer across all sports; while her track record encompasses women’s growth initiatives and category/geography leadership, delivery on brand growth and consumer offense will be tested amid recent TSR underperformance and revenue/EBIT shortfalls embedded in FY2025 incentive outcomes .