Nike shareholders overwhelmingly rejected a proposal that would have required the company to publish a report examining the risks of its charitable giving and diversity, equity and inclusion commitments. The resolution, put forward at Nike's annual meeting on 8 September by faith-based investment firm Inspire Investing on behalf of client William C. Cunningham, reflects a wider push by conservative and religious investors to challenge corporate DEI policies, framing them as carrying legal, financial and reputational risk rather than campaigning for their removal outright.

The proposal specifically highlighted Nike's perfect score of 100 on the Human Rights Campaign's Corporate Equality Index, questioning whether this meant its health plans covered gender-transition treatments, including surgery and hormone therapy, for minor dependants—something Nike has not publicly clarified. Nike's board urged shareholders to vote it down, saying existing due diligence already addressed such risks and that a further report would waste time and resources without benefiting investors. According to a filing with the US Securities and Exchange Commission on 10 September, the proposal secured less than 1% of the vote, though Inspire's Tim Schwarzenberger said the campaign still succeeded in raising concerns he believes resonate with many shareholders.