NIKE, Inc. filed its annual report for the fiscal year ended May 31, 2026, providing investors with a broad update on the company’s business structure, global operations, supply chain, market exposure and risk profile. The filing is not an insider-trading report and does not describe a discrete purchase or sale of securities by an officer, director or shareholder; rather, it is NIKE’s annual Form 10-K, the comprehensive yearly disclosure required of public companies. As of July 8, 2026, NIKE reported 1,483,498,703 shares of common stock outstanding. The company’s publicly traded ticker is NKE. NIKE also disclosed that Sojitz Corporation of America, a large Japanese trading company, remains the sole owner of NIKE’s redeemable preferred stock and has provided import-export financing services to the company since 1972. For fiscal 2026, NIKE described itself as the world’s largest seller of athletic footwear and apparel, operating primarily through the NIKE, Jordan and Converse brands. The company’s business remains centered on the design, development, marketing and sale of athletic footwear, apparel, equipment, accessories and consumer services. NIKE sells through two main channels: NIKE Direct, which includes company-owned retail stores and digital platforms, and wholesale accounts, including independent distributors, licensees and sales representatives worldwide. The company reported that U.S. sales represented about 44% of total fiscal 2026 revenue, up from 43% in fiscal 2025 and 42% in fiscal 2024. Outside the United States, NIKE Brand and Converse sales accounted for about 56% of revenue, compared with 57% and 58% in the prior two fiscal years. NIKE said no single customer accounted for 10% or more of consolidated revenue in fiscal 2026. Its three largest U.S. customers represented approximately 29% of U.S. sales, while its three largest customers outside the United States accounted for approximately 16% of non-U.S. sales. NIKE also detailed the scale of its retail and distribution network. In the United States, the company reported 347 total retail stores, including 212 NIKE Brand factory stores, along with significant distribution operations supported by eight U.S. distribution centers. Internationally, NIKE and Converse operate digital commerce platforms in more than 40 countries and maintain a large non-U.S. store base, including hundreds of NIKE Brand factory stores and 65 distribution centers outside the United States. The filing gives a detailed view of NIKE’s manufacturing dependence on independent contractors. As of May 31, 2026, contract manufacturers operated 95 finished-goods footwear factories in 11 countries. NIKE Brand footwear was produced by 15 contract manufacturers, with factories in Vietnam, Indonesia and China making approximately 52%, 27% and 16% of total NIKE Brand footwear, respectively. Four footwear contract manufacturers each accounted for more than 10% of footwear production, and together represented about 60% of NIKE Brand footwear production. For apparel, NIKE reported 321 finished-goods apparel factories across 34 countries as of May 31, 2026. NIKE Brand apparel was manufactured by 64 contract manufacturers. Factories in Vietnam, Cambodia and China produced approximately 34%, 15% and 12% of total NIKE Brand apparel, respectively. Two apparel contract manufacturers each accounted for more than 10% of apparel production, while the top six manufacturers together accounted for approximately 54%. The annual report also highlights ongoing trade, sourcing and geopolitical risks. NIKE said protectionist trade measures, tariffs, anti-dumping actions, customs restrictions, sanctions, political instability and changes in U.S. or foreign trade policy have increased costs and could materially affect sales or profitability. The company said it monitors trade developments, participates in administrative and judicial processes, and believes it can develop alternative sourcing arrangements over time if disruption occurs, though replacement sources may be less cost-effective. In its product discussion, NIKE emphasized continued investment in research, design and development, citing technologies such as Nike Air, Zoom, Free, Dri-FIT, Flyknit, FlyEase, ZoomX, Air Max and React. The company said it relies on internal specialists, athletes, coaches, medical experts and advisory groups to test and improve products, with employee athletes and sponsored athletes participating in wear-testing and evaluation. The filing also identifies the major reporting areas covered in the Form 10-K, including Item 1 Business, Item 1A Risk Factors, Item 1C Cybersecurity, Item 3 Legal Proceedings, Item 5 Market for Registrant’s Common Equity and Issuer Purchases of Equity Securities, Item 7 Management’s Discussion and Analysis, Item 8 Financial Statements, Item 9A Controls and Procedures, and Item 9B Other Information. Executive officer information is included in Item 1, while much of Part III—covering directors, executive compensation, security ownership and related-party matters—is incorporated by reference from NIKE’s proxy statement for its 2026 annual meeting of shareholders. Overall, the filing matters because it provides NIKE shareholders with the company’s formal annual snapshot for fiscal 2026: its share count, operating footprint, brand structure, customer concentration, supply-chain exposure and principal business risks. It does not report an insider transaction, option exercise, equity award vesting event or coded securities transaction, but it does update investors on the company’s operating base and the risks that could affect future results.