Knight sells Nike shares

The Nike chairman and co-founder unloaded $93 million in shares.

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Nike head Phil Knight has sold $93 million in Nike stock, beginning Oct. 14 when the Dow Jones Industrial Average rose back above 10,000.

Nike closed Monday on the New York Stock Exchange at $66.09, up 99 cents or 1.5 percent, trading at a 52-week high. It is within reach of its all-time high of $70.60 on March 24, 2008.

From Wednesday to Friday, Knight sold 1.4 million shares in 245 transactions at $64.23 to $65.24 apiece, according to documents filed with the U.S. Securities and Exchange Commission. The filings suggest he might sell another 3.5 million shares in coming days or weeks.

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