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Kotick Sells More Activision Shares, Gains $17 Million
Kotick Sells More Activision Shares, Gains $17 Million
November 18, 2009 | By Leigh Alexander

November 18, 2009 | By Leigh Alexander
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More: Console/PC



As Activision announces a $550 million five-day gross for Call of Duty: Modern Warfare 2, CEO Bobby Kotick is again exercising his stock options, selling 1.68 million shares for a total of about $17 million.

This is the second time in recent days Kotick has sold shares; last week, he netted himself $20 million on the day of Modern Warfare 2's launch.

A large quantity of stock vested for the CEO in 2000, when the options were valued at the comparatively meager price of $1.035 per share -- Kotick sold this latest round for prices ranging from from $11.61 to $11.72 per share, according to an SEC filing.

This August, when Activision was trading slightly higher, at $12.44, Kotick sold a volume of 2 million shares and brought in nearly $25 million gross.

Activision shares (NASDAQ: ATVI) rose slightly this morning to $11.78, alongside the company's announcement of Modern Warfare 2's five-day sales achievement -- although Kotick said at the same time that the company's still cautious about consumer spending heading into the holidays.


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Comments


Fiore Iantosca
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I hope he rewards his employees and treats them well.

Joseph Amper
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Well, he's not going to do that out of his own cash out. but given the gross number, maybe they can try some new IPs

Andrew Dobbs
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How can one person's work ever be worth 37 million dollars? It can't. Too bad shareholders can't set pay and compensation...all is left to the board, who are execs with other companies.

Joe Woynillowicz
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Dr. Squirrel
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one can only hope Mr. CEO is at least supporting a few charity organizations


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