Annual Stock Option Grants. During the term of this Agreement, Executive annually will be eligible for at least Thirty Thousand (30,000) additional shares of NIKE, Inc. Class B Common Stock at the market price of such shares at the close of trading on the date the options are granted. These options are typically granted in July of each year. To be eligible for the annual grant of stock options, Executive must be employed by Nike as of the close of the Fiscal Year (May 31st). The right to purchase shares with respect to annual stock option grants shall accrue with respect to one-fourth (25%) of the shares on each of the four succeeding anniversaries of the grant date.
Annual Stock Option Grants. The Committee shall in 2002 and subsequent calendar years grant to the Executive ten-year options with respect to shares of Company stock, with such grants to be made at the same time during the calendar year as grants are generally made to senior executives of the Company. Such annual grants shall be consistent with competitive pay practices generally and appropriate relative to awards made to other senior executives of the Company; provided, however, that each such annual grant shall be to purchase no less than four hundred fifty thousand (450,000) shares of Company Stock, with such number to be adjusted appropriately in the event of any change in the outstanding shares of Company Stock by reason of a stock dividend or split, recapitalization, merger, consolidation or other similar corporate change or distribution of stock or property by the Company. These option grants shall vest in four equal increments, with one tranche vesting on the second anniversary of the grant date and one tranche vesting on each of the next three anniversaries of the grant date (the “Vesting Scheme”); provided, however that an annual option grant shall instead vest pursuant to normal Company practice at the time of grant, so long as such then-current practice is no slower than the Vesting Scheme. Any annual option grant may vest subject to a different vesting schedule, so long as such vesting schedule is no slower than the faster of the Vesting Scheme or the then-current normal Company practice at the time of such stock option grant.
Annual Stock Option Grants. Subject to approval by the Company's Board an/or its Compensation Committee, during the Executive's employment under this Agreement, the Company may make, commencing in 1998, annual grants of non-qualified stock options to the Executive for 4400 shares of Stock or such other number of shares of stock as may be approved by the Board and/or its Compensation Committee. Such annual grants shall be made generally at such times, at such exercise prices, and in a manner consistent with and under the same terms and conditions as are contained in, options granted to other senior officers of the Company, as determined by the Board and/or its Compensation Committee, and shall be made under and subject to the Stock Option Plan, or any successor plan. All such options shall terminate on the Employment Ending Date.
Annual Stock Option Grants. Executive will also be eligible to receive stock option grants annually. The Company's Board of Directors or its Compensation Committee or Executive Committee will determine whether a stock option will be granted to Executive and the number of shares subject to any such stock option. Such determination will be in the sole discretion of the Company's Board of Directors or its Compensation Committee or Executive Committee and will be based upon, in part, Executive's performance review and applicable performance objectives established by the Company's Board of Directors or the Compensation Committee.
Annual Stock Option Grants. For calendar years 2002 and 2003, the Executive shall participate in the EIP and shall have the opportunity for stock option grants as provided thereunder. For calendar years thereafter through the end of the Period of Employment, the Executive shall receive stock option grants as determined by the Board in accordance with the Company's then-applicable stock plan. Such grants shall be made at the same time during the calendar year as grants are generally made to senior executives of the Company, and shall be consistent with competitive pay practices generally and appropriate relative to awards made to other senior executives of the Company.
Annual Stock Option Grants. On the first anniversary of the Commencement Date, and on each subsequent anniversary of such date during the Term, subject to approval by the Board and such other approvals as the Board may deem necessary or appropriate to effectuate each grant contemplated by this paragraph, and Executive’s continued employment with the Company through the date of each such grant, the Company will grant to Executive an additional non-qualified option to purchase 125,000 Shares with an exercise price per Share equal to 110% of the grant date fair market value of one Share (the “Annual Stock Options”). The Annual Stock Options will be subject to all of the terms and conditions of the Equity Documents (including as to vesting and forfeiture), which will provide, among other things, that each Annual Stock Option shall vest and become exercisable over 3 years from the grant date of such Annual Stock Option, with one-third (1/3) of such Annual Stock Option vesting and becoming exercisable on the grant date, and the remainder of such Annual Stock Option vesting and becoming exercisable in equal monthly installments thereafter over the remainder of the applicable 3-year vesting term, in each case contingent on Executive’s continued employment with the Company through each vesting date. Notwithstanding anything herein to the contrary, in the event of any conflict between any terms of this Agreement and any terms of the Equity Documents with respect to any Annual Stock Option, the terms of the Equity Documents will prevail.
Annual Stock Option Grants. Following the end of each fiscal year beginning 2022, and subject to the approval of the Company’s Board of Directors (the “Board”), you may be eligible for a discretionary stock option grant offered annually based on market Long Term Incentive and Percent of Company data. The annual stock option award, if any, will be based on both individual and corporate performance during the applicable fiscal year and will be determined by the Board, in its sole discretion. In any event, you must be an active employee of the Company on the date the fiscal year stock option grant is distributed in order to be eligible to receive the grant, as it also serves as an incentive to remain employed by the Company.
Annual Stock Option Grants. 4.4.1 On the Effective Date, the Committee shall grant to the Executive ten (10)-year options for seventy thousand (70,000) shares of Company stock. These options shall vest in four equal increments of seventeen thousand, five hundred (17,500), with one tranche vesting on each of the second, third, fourth and fifth anniversaries of the grant date. This option grant shall be subject to adjustment (in accordance with the terms of the Company's 1997 Omnibus Stock Incentive Plan) for stock splits, stock dividends, and other similar changes in the Company's capitalization after the grant date.
Annual Stock Option Grants. The Executive shall be entitled to a grant of a stock option (an "ANNUAL STOCK OPTION GRANT") (a) on or before April 16 in calendar year 2001, (b) on or before March 15 in calendar year 2002, and (c) on or before March 15 in calendar year 2003, PROVIDED, in each case, that the Termination Date shall not have occurred prior to the date of grant and, in the case of the grants in calendar years 2002 and 2003, that the performance criteria entitling him to an Annual Bonus for the preceding calendar year shall have been satisfied. Each Annual Stock Option Grant shall cover common stock having a fair market value as of the date of grant, based (if the common stock is publicly traded as of the date of grant) on the closing price of common stock on the most recent trading day preceding the date of grant, equaling at least 200% of the Executive's annualized Base Salary as of the date of grant; shall vest, during the Term, with respect to at least 25% of the shares on or before the first anniversary of the Effective Date that follows the date of grant and at least 2% of the shares each month thereafter; shall have an exercise price equal to fair market value as of the date of grant; and shall otherwise be on terms and conditions no less favorable to the Executive than those applying generally to other stock options granted to senior executives of the Company in the year of grant. Each Annual Stock Option Grant shall be made under the Company's stockholder approved plan, provided that if and to the extent that the number of shares required to be covered by an Annual Stock Option Grant in any year would exceed the maximum number that may be granted to the Executive under such plan in such year, then (x) such Annual Stock Option Grant shall to that extent be made separate from such plan and (y) the Company shall cause an S-8 registration statement to be filed and made effective with respect to such grant prior to the date such grant is made. No stock options shall be granted within six months following the Effective Date.
Annual Stock Option Grants. The Compensation Committee or other designated body shall in fiscal year ending May 31, 2008 and subsequent fiscal years grant to the Executive ten-year options with respect to shares of Company stock, with such grants to be made at the same time during the fiscal year as grants are generally made to senior executives of the Company. Such annual grants shall be consistent with competitive pay practices generally and appropriate relative to awards made to other senior executives of the Company; with such number to be adjusted appropriately in the event of any change in the outstanding shares of Company Stock by reason of a stock dividend or split, recapitalization, merger, consolidation or other similar corporate change or distribution of stock or property by the Company. These option grants shall vest 20% at the end of each of the first five years. However, in the event of termination by the Company without Cause or termination by Executive for Good Reason, the vesting of such options will accelerate and they will become immediately exercisable.
