EA Executive Vice President Dumps His Stock, Takes In $687,000
Well, sure. The stock just skyrocketed, so why not sell? Still, it's the company you work for...is it ethical?
A certain document is making the Internet rounds; it's an SEC document that was filed Thursday, and it shows that EA executive vice president Andew Wilson sold every last share he owned in the publisher: All 32,085 shares were sold at $21.42 each, which resulted in a $687,000 windfall.
Wilson doesn't have any shares left, and he's the only EA executive to currently hold zero shares. EA stock rose quickly after the company released some promising financial results; there was also the encouraging news of the FIFA license extension along with a full-year revenue haul of $3.79 billion. So the stock rose 17% to $21.56, the highest point it has reached since 2011. See, I should've bought some stock last year when it was much lower, because I kinda foresaw this happening. EA was pretty well positioned to have a decent year, I thought, although I couldn't have predicted the FIFA renewal.
Looks like Wilson wanted to take immediate advantage. Can't really blame him, now can you?
5/10/2013 9:30:29 PM Ben Dutka