Phil McCartney

About Phil McCartney

Phil McCartney is Executive Vice President, Chief Innovation, Design & Product Officer at NIKE, Inc., appointed in May 2025; age 50; joined NIKE in 1998. He oversees product creation and how NIKE, Jordan and Converse innovate, design, and create products for athletes globally; previously Vice President and General Manager of Global Footwear since 2016, with prior roles including VP of Sport, VP of Running, and VP of Football Footwear; he began at NIKE as an EKIN and was formerly a professional long‑distance runner representing Great Britain . Company performance context during his initial tenure: fiscal 2026 Q1 revenue was $11.7B (+1% reported, −1% currency‑neutral) with diluted EPS $0.49, as NIKE executed its “Win Now” plan; the fiscal 2025 annual cash PSP paid 0% and the fiscal 2023–2025 PSU tranche vested at 0% on Relative TSR (4th percentile), underscoring a tight pay‑for‑performance linkage .

Past Roles

Organization	Role	Years	Strategic Impact
NIKE, Inc.	EVP, Chief Innovation, Design & Product Officer	May 2025–present	Leads product creation across NIKE, Jordan, Converse; aligns innovation/design with athlete‑centric strategy .
NIKE, Inc.	VP & GM, Global Footwear	2016–2025	Drove global footwear category strategy, product development, and merchandising .
NIKE, Inc.	VP, Sport; VP, Running; VP, Football Footwear	Not disclosed	Led sport/category product strategies across geographies and functions .
NIKE, Inc.	EKIN (brand ambassador/product expert)	Not disclosed	Grassroots product storytelling and expertise; early career foundation .

External Roles

Organization	Role	Years	Strategic Impact
—	—	—	No external public‑company directorships or outside board roles disclosed in NIKE’s 2025 10‑K or May 2025 appointment 8‑K/press release .

Fixed Compensation

Component	Detail
Base Salary	Not individually disclosed for McCartney in the fiscal 2025 proxy; NEO base salaries listed do not include McCartney .
Target Annual Bonus (PSP)	Not individually disclosed for McCartney in the fiscal 2025 proxy; PSP target percentages published for NEOs only .
Perquisites/Benefits	Not individually disclosed; NIKE references competitive benefits generally for executive officers .

Note: McCartney was an executive officer but not a Named Executive Officer (NEO) for fiscal 2025; therefore, individual fixed‑pay disclosures are not provided in the proxy .

Performance Compensation

Plan/Instrument	Metric	Weighting	Target	Actual	Payout	Vesting
Annual PSP (FY 2025)	Adjusted Revenue	50%	Target set ≈3% below FY24 actual revenue	$46.4B	0% earnout	Annual cash; payout 0% .
Annual PSP (FY 2025)	Adjusted EBIT	50%	Target set ≈8% below FY24 actual EBIT	$3.5B	0% earnout	Annual cash; payout 0% .
PSUs (FY 2025–2027)	Relative TSR vs S&P 500	100% of PSUs; People & Planet modifier ±20 pts	55th percentile earns 100%; cap at 100% if Absolute TSR negative	In‑progress	Earnout 0–200% at end of period	Cliff vest Sep 1, 2027 (earned units) .
LTI Mix (program design)	PSUs / Stock Options / RSUs	Typical target mix: 50% / 35% / 15% (for NEOs)	Committee‑set	N/A	N/A	RSUs vest over 4 years; options over 4 years for exec program commencing FY 2025 .
Prior PSU tranche (FY 2023–2025)	Relative TSR	PSU metric	Threshold 25%/Target 100%/Max 200%	4th percentile Relative TSR	0%	Vested at 0% per program outcome .

Program design applies company‑wide to equity‑eligible executives; McCartney’s individual grant values/targets were not disclosed as he was not a fiscal 2025 NEO .

Equity Ownership & Alignment

Item	McCartney	Policy/Company
Total beneficial ownership (shares)	Not individually disclosed in 2025 proxy; table lists directors and NEOs only .	Beneficial ownership policy fully tabulated for directors/NEOs; exec officers included in group totals .
Ownership guidelines	N/D	CEO: 8x salary; Other executive officers: 3x salary; 5 years to comply; excludes unvested PSUs and all options from calculation .
Hedging/Pledging	N/D	Hedging, monetization, short sales prohibited; pledging requires pre‑approval from Chairman/CEO with risk safeguards .
Shares pledged as collateral	N/D	Pre‑approval required; stringent review to avoid foreclosure/appearance of insider trading .
Vested vs unvested equities	N/D	RSUs vest over 4 years; options in 4 installments; PSUs cliff vest after 3‑year period if earned .
Compliance status with guidelines	N/D	As of May 31, 2025, CEO and other exec officers were on‑track or met guidelines within required period .

Employment Terms

Provision	Detail
Appointment/Role	Promoted to EVP, Chief Innovation, Design & Product Officer effective May 2025 .
Change‑of‑Control	Double‑trigger acceleration for PSUs, options, RSUs; PSP does not accelerate; PSUs vest at 100% of target upon qualifying double‑trigger .
Retirement/Termination	FY 2025 award updates added retirement provisions for RSUs/PSUs and standardized involuntary termination treatment (pro‑rated PSUs based on actual performance; RSUs retention‑aligned) .
Non‑compete	NIKE maintains non‑competition agreements for senior executives; benefits payable referenced in CEO transition narrative (indicative of ongoing policy) ; historic proxy detail on monthly payments during non‑compete periods for NEOs .
Clawback	Clawback policy applies to incentive compensation; 2025 proxy references clawback governance; detailed policy described in prior proxies (recoupment upon restatement; covers PSP, LTIP/SIP, DCP) .
Hedging/Pledging	Prohibited hedging; pledging only with pre‑approval under Blackout & Pre‑clearance Policy .

Investment Implications

Pay‑for‑performance is strict: FY 2025 annual PSP paid 0% and FY 2023–2025 PSU tranche vested at 0% on Relative TSR; this reduces near‑term cash/equity realizations and raises internal pressure to deliver innovation‑led growth under McCartney’s remit .
Retention/vesting structures now more protective of talent: RSU vesting extended to four years; standardized retirement/involuntary termination provisions for RSUs/PSUs improve retention while preserving performance linkage via pro‑ration; double‑trigger CoC maintains alignment with shareholders .
Alignment safeguards are strong: 3x salary ownership guideline for execs, hedging prohibitions, and restricted pledging lower adverse alignment risk; individual ownership data for McCartney is not disclosed, but execs are generally on‑track with guidelines .
Execution risk remains: Company‑level “Win Now” actions show early progress (Q1 FY26 revenue +1% reported, EPS $0.49), but margin compression and zero incentive payouts in FY 2025 highlight mixed fundamentals. McCartney’s effectiveness in accelerating product innovation and pipeline quality is a key lever for future TSR and PSU outcomes .