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GOVERNANCE

Nike sets shareholder proxy access

Nike Inc., Beaverton, Ore., announced in an 8-K filing with the SEC on Monday that it is implementing shareholder proxy access.

The new access, according to the filing, permits a shareholder or group of up to 20 shareholders owning at least 3% of the company's outstanding shares “held for at least three years to nominate and include in Nike's annual meeting materials Class B director nominees constituting the greater of one or up to 20% of the Class B directors.”

According to Bloomberg data, as of Monday, Vanguard Group owns 93.2 million, or 7.05% of shares, followed by BlackRock (BLK) at 79 million, or 5.98%; State Street Corp. (STT) at 58.7 million, or 4.44%; FMR LLC at 52.8 million, or 3.99%; and Wellington Management at 47.5 million, or 3.6%.

Nike officials could not be immediately reached to provide further information.