Got a notification from Market Watch this morning that MM sold 40,000 shares worth 4,343,600. Must be nice. Actually money made at the expense of others suffering can't feel that great to the soul. I hope she buys a nice boat and it promptly sinks.
9 replies (most recent on top)
Along with JD - MM needs to be shown the door. They are both colossal dead weight.
That’s Nike…where a small number of people get compensated far, far, far beyond the value they provide, and in a manner that would cause no reasonable person to say “That makes complete and total sense.”
The funny thing is that over the years everyone has accepted these multi-million dollar annual compensation packages as normal. As if a person getting paid 10x, 20x, 50x or even 500x what typical employees get paid makes perfect sense, is nothing but fair, and should be accepted without question or complaint.
Nike is a microcosm of society in general where a very small number of people are taking a much larger slice of the pie than makes any economic sense and everyone else is supposed to think “That’s OK and how it has always been”. No it hasn’t always been that way. Prior to the 1980’s CEO compensation much greater than 30x average employee salary would have drawn society’s scorn and been taxed close to 90%. Sort of a “You KNOW your salary is messed up, right?” tax. That has since gone out the window and now people think it’s completely normal when a senior executive makes many millions per year and a CEO makes tens of millions per year. It’s all a sign of how sick, twisted, and morally bankrupt our late-stage capitalism has become.
You can do something. Vote your Nike shares to ensure compensation gets reigned in. And when a politician proposes a “high income beyond anything that makes sense or is fair” tax, support it. We have this problem because too few people want to stand up and say “Enough!” Most seem happy enough to just get whatever crumbs are thrown their way.
Go read up on the French Revolution. It was caused when too few people were soaking up all the wealth at the expense of everyone else. It will happen again in our lifetime when things get bad enough. As rotten of a person as Donald Trump is, he is fundamentally a result of people whose anger is increasingly starting to boil over. It’s true that many of those people are angry at the wrong things. Nonetheless they do sense a very deep resentment that as America gets richer those rewards are going to a smaller and smaller group of people who have gamed the system in their favor. America can’t take much more of this inequality before the whole thing explodes.
Nike executives are getting filthy rich off YOUR hard work and throwing you crumbs to keep you placated. Yeah that isn’t going to work much longer either.
It was an option exercise.
You can check at openinsider dot com.
Company gives her bonuses via options. She got them in august, so immediately sold. For whatever reason
@mn1mn I can smell the racism through the screen, but I guess it’s okay as long as you stay anonymous in an online forum right?
Her and her top team other than Treasure, need to be let go. BB is a joke. Re-hauling HR under her is a joke. She and DH got rid of the good ones. Get rid of those two and BB? You might have a chance. Put Treasure in charge. Bring back SM. Huge loss! DH is an ER nightmare. She’s Medusa and still slithering. Be careful who you give power to…. I hope you’re reading this JD.
I wanted to validate this (and you can too via the Nasdaq Insider Trades website). MM currently holds 42,013 shares (roughly $4m value at current share price)
MM last sold stock on June 1st - that transaction was 18,501 shares @ $103.63 = total proceeds of $1,917,258.63. Still not a bad haul, but I do think accuracy is important. MM is an officer of the company so of course all of this is publicly available and has to be reported.
I am guessing OP was one of the many people laid off this year and wanted to wait until today for bonus to clear before posting anything. Totally fair and legitimate and IMHO points to a broader issue of how little people feel they can trust Nike to do the right thing.
It’s totally gross that MM is posting about enjoying wellness week from Europe when she laid off huge swathes of her team (DEI, HRBP, Recruiting) and those people cannot enjoy wellness week because they’ve been thrown out into such a rough job market.
It’s just so gross that MM posts to LinkedIn saying nonsense like ‘I’m always so inspired by our people’ - yet it’s always her signature on the layoff papers. Of all the functions HR is the most toxic, run on fear and retaliation.
Her comp should be tied to the # of months that her heads of DEI stay in role
That’s probably half of her yearly vested amount just to put it in perspective …