The board of Nike has approved a new four-year, $8 billion program to repurchase shares of the company's Class B common stock. This new program will start sometime during the second quarter the 2013 fiscal year, once the current $5 billion share repurchase program is completed. The stock buybacks will be made in the open market or in privately negotiated transactions that follow the rules of the U.S. Securities and Exchange Commission, and will be subject to market conditions, applicable legal requirements and other factors. There is no set number of stocks that must be acquired, and Nike can suspend the repurchase at any time. As of Aug. 31, Nike had about 361 million shared of Class B common stock outstanding.

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