Kotick Exercises Stock Options, Walks Away With $20.2 Million
It must be nice to be CEO of the publisher that is responsible for what will likely be the single biggest selling video game in history.
Call of Duty: Modern Warfare 2 certainly had the biggest launch ever, as 4.7 million copies were sold in just the first 24 hours, thereby generating over $310 million. The dollar total matches Grand Theft Auto IV in 2008 but in terms of overall sales numbers, there's little doubt that MW2 will soon be on top of the gaming world. And CEO Bobby Kotick is lovin' it. According to GameSpot citing a Securities and Exchange Commission filing, Kotick took advantage of this momentous event to exercise almost 2 million stock options he had vested back in 2000 and back then, those options were only worth a little over $1. Well, Activision's stock is now at about $11.47/share, which means that once you subtract the initial $2 million, Kotick comes clean with $20.2 million...that ain't bad. And he still owns over 3.1 million shares, which are worth around $35.5 million. That's a nice little pay day, wouldn't you say? And before you all start freaking out, bear in mind that Kotick took the reigns at Activision way back in 1991, just before it filed for Chapter 11 bankruptcy. So yeah...he did his job.
I'm thinkin' I should get into some game stocks. This is just downright absurd.
11/12/2009 9:39:52 PM Ben Dutka