Mark G. Parker

Tarnished Nike executive is slated to receive $525,000 payout

The Nike executive who resigned last week amid a companywide internal review of inappropriate behavior is poised to leave with a $525,000 payout.

Trevor Edwards, 55, the former president of the Nike brand and a one-time candidate to become the next chief executive officer, will officially depart in August after a stint as an adviser to Chief Executive Officer Mark Parker. At that point, a noncompete agreement kicks in that will pay Edwards the $525,000 over the next year in monthly installments, according to regulatory filings.

Nike cast a cloud over Edwards' exit by saying it was reviewing misconduct at the world's largest athletic brand. One of his top lieutenants, Jayme...