Nike’s Knight puts 2M shares in trust
Phil Knight, Nike’s chairman and controlling shareholder, has directed 2 million shares of Nike’s (NYSE: NKE) Class A stock into a new annuity trust, according to an SEC filing.
Knight contributed the Class A shares to former University of Oregon athletic director Pat Kilkenny as trustee of the 2010 Annuity Trust N.
Unlike Nike’s Class B stock, Class A shares aren’t traded publicly. As of Nike’s August proxy statement, Knight held nearly three-quarters of all Class A stock.
Iconix to expand into India
Iconix Brand Group (Nasdaq: ICON) said it has signed its first license agreement in India, entering into a long-term direct-to-retail license with Arvind Limited for its Mossimo brand.
Fitness EM licenses the Danskin brand name for fitness equipment from Iconix's property, Triumph, formerly known as Danskin.
“India is an exciting new frontier for Iconix as we continue to roll out our portfolio of brands throughout the world,” said Neil Cole, Iconix’s chairman and CEO, in a statement. “India’s growing middle class has a preference for American brands and retail outlets are quickly developing, making this a prime time for our expansion into the marketplace.”
Iconix did not disclose how the expansion into India will affect its next quarterly results.
--Compiled by Wendy Geister
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