Washington, DC 20549 
                                 FORM 8-K 
                              CURRENT REPORT 
 Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 
   Date of Report (Date of earliest event reported): June 16, 2005
                                 NIKE, INC. 

          (Exact Name of Registrant as Specified in Charter) 
       Oregon                  1-10635                 93-0584541 
    ____________             ____________             ____________

   (State of                  (Commission            (I.R.S.Employer 
   Incorporation)            File Number)          Identification No.) 
                             One Bowerman Drive
                         Beaverton, Oregon 97005-6453 

                   (Address of Principal Executive Offices)                 

                               (503) 671-6453
             (Registrant's telephone number, including area code) 

                                NO CHANGE
        (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to 
simultaneously satisfy the filing obligation of the registrant under any 
of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act 
    (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under Exchange Act (17 
    CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the 
    Exchange Act (17CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the 
    Exchange Act (17 CFR 240.13e-4(c))


Item 1.01 Entry into a Material Definitive Agreement.

     On June 16, 2005, the Compensation Committee (the "Committee") of 
the Board of Directors of NIKE, Inc. (the "Company") approved 
performance-based awards under the Company's Long-Term Incentive Plan to 
all executive officers of the Company on identical terms except for the 
target award amounts.  The following table summarizes the terms of those 
awards for those officers who were "named executive officers" in the 
Company's proxy statement for its 2004 annual meeting of shareholders, or 
are expected to be "named executive officers" in the Company's proxy 
statement for its 2005 annual meeting of shareholders:


                  or Other Period
                    Until Maturation or
Name and Title           Payout (1)               Threshold ($)  Target ($)  Maximum ($)
______________           __________               _____________  __________  ___________
William D. Perez      Fiscal Years 2006 to 2008       0          600,000     900,000
  President and       Fiscal Years 2006 to 2007       0          600,000     900,000
  Chief Executive     Fiscal Year 2006                0          283,000     424,500

Philip H. Knight            -                         -             -           -
  Chairman of the
  Board of

Mark G. Parker       Fiscal Years 2006 to 2008        0          500,000     750,000
  President of    
  The NIKE Brand

Charles D. Denson    Fiscal Years 2006 to 2008        0          500,000     750,000
  President of 
  the NIKE Brand

Mindy F. Grossman    Fiscal Years 2006 to 2008        0          400,000     600,000
  Vice President 
  of Global Apparel

Gary M. DeStefano    Fiscal Years 2006 to 2008        0          300,000     450,000
  President of 
  USA Operations

     (1)     The Committee established a series of performance targets based on 
             revenues and earnings per share for each applicable performance 
             period corresponding to award payouts ranging from 0% to 150% of 
             the target awards.  Under the terms of the awards, on August 15 of 
             the last year of the applicable performance period participants 
             will be issued a payout at the average of the percentage levels 
             corresponding to the results for the two targets, subject to the 
             Committee's discretion to reduce or eliminate any award based on 
             Company or individual performance.  A portion of the payout equal 
             to the required tax withholding will be payable in cash and used 
             to satisfy the withholding.  The balance of the payout will be 
             payable at the election of the participant in either (a) cash, (b)
             shares of Class B Common Stock of the Company valued at the 
             closing price of the Class B Common Stock on the New York Stock 
             Exchange on the payout date, or (c) a mix of cash and shares.  The 
             cash and shares will be 100% vested at that time.  The awards to 
             Mr. Perez were required pursuant to the terms of Mr. Perez's 
             employment agreement with the Company, a copy of which was filed 
             as Exhibit 10.1 to the Company's Current Report on Form 8-K dated 
             November 18, 2004.  

     The form of long-term incentive award agreement for the awards is
filed under Item 9.01 of this Form 8-K.

Item 5.02 Departure of Directors or Principal Officers; Election of 
Directors; Appointment of Principal Officers.

(b) On June 16, 2005, Delbert J. Hayes, a director of the Company, 
notified the Company of his decision not to stand for re-election as a 
director at the Company's 2005 annual meeting of shareholders.  His 
decision is not the result of any disagreement with the Company or its 

Item 9.01 Financial Statements and Exhibits.

(c) Exhibits

     10.1   Form of Long-Term Incentive Award Agreement under the Long-
            Term Incentive Plan.

     10.2   Form of Restricted Stock Bonus Agreement under the 1990 Stock 
            Incentive Plan.

     10.3   Form of Non-Statutory Stock Option Agreement for options 
            granted to non-employee directors under the 1990 Stock 
            Incentive Plan.


     Pursuant to the requirements of the Securities Exchange Act of 1934, 
the registrant has duly caused this report to be signed on its behalf by 
the undersigned hereunto duly authorized.

                                    NIKE, INC.

Date: June 20, 2005                 By: _________________________________
                                        Donald W. Blair
                                        Chief Financial Officer