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Activision Blizzard CEO Could Depart With Over $500M After Microsoft Deal

Benzinga · 05/02/2022 07:05
  • Activision Blizzard, Inc (NASDAQ:ATVI) CEO Bobby Kotick could depart with up to $520 million after Microsoft Corp's (NASDAQ:MSFT) takeover, the Wall Street Journal reports.
  • The Call of Duty franchise game maker CEO was roiled in controversy, as state and federal regulators have accused Activision of mishandling employee sexual-harassment cases and gender-pay disparity.
  • Also Read: Top Meta Official Faces Internal Scrutiny For Doling Out Favours To Activision CEO Bobby Kotick
  • Kotick was entitled to $14.4 million in severance benefits. Kotick owned 4.3 million shares and has the right to acquire another 2.2 million, potentially worth just over $500 million combined at the $95-a-share deal price. 
  • Kotick bagged $0.83 million in compensation in 2021.
  • Kotick purchased $50 million worth of Activision stock in 2013. Kotick benefited from a 500% increase in value due to the company's "extraordinary performance" under his leadership over the past eight years, WSJ notes.
  • In October, he urged the board to reduce his salary to the minimum allowed under California law and agreed to forgo bonuses and equity grants.
  • Kotick will likely step down from Activision when the Microsoft deal closes.
  • Price Action: ATVI shares traded higher by 2.50% at $77.49 in the premarket on the last check Monday.
  • Photo via Wikimedia Commons