Nike Gives CEO Parker $30 Million Award to Stay for Five Years

Nike Inc. gave Chief Executive Officer Mark Parker a stock award valued at almost 10 times his typical annual share grant, on the condition that he work for the sporting-goods company for the next five years.

Nike granted Parker, 59, restricted stock with a target value of $30 million, which he’ll receive if he’s employed through the award’s vesting period, according to the Beaverton, Oregon-based company’s July 20 proxy filing. He was previously given stock awards with reported values of $3.5 million each of the past three fiscal years, the filing shows.