Activision Blizzard CEO Bobby Kotick Could Net A Cool Half-Billion On Microsoft Deal
In a securities filing on Friday, Activision outlined many interesting financial details about its Microsoft merger, company cash flow, and much more. One of the more interesting things to come of this is information about CEO Bobby Kotick and where he stands with the company. More specifically, the document notes that in October of last year, “Mr. Kotick asked that his total compensation be reduced to the lowest amount permitted to be paid to exempt employees under California law until the Company has made appropriate progress toward the achievement of the Transformational Goals.” These goals stem from the recent allegations and evidence of workplace harassment and discrimination at Activision Blizzard, in which Kotick has been embroiled since the beginning.
Beyond this, the document also notes that Kotick could receive upwards of $14,442,247 if he were terminated by Activision-Blizzard “without cause or termination by employee for good reason following a change of control.” Moreover, it is reported that Kotick also owns 4,296,550 Activision-Blizzard shares, which could sell for a whopping $408,172,250 at Microsoft’s rate of $95 per share listed in the merger agreement.
At the end of the day, with all the allegations and concerns surrounding Kotick, he is likely watching his back rather intently. However, on the other side of the coin, Microsoft and internal teams at Activision Blizzard are likely looking at Kotick with vigor to potentially save some money in severance, should he be removed for misconduct, or due to a change in leadership following the Microsoft Activision merger. In any event, revelations of the finances and intricacies of a large corporate acquisitions can be quite interesting, so you can check it all out here if you like, and let us know what you think in the comments below.
