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Electronic Arts exec sells all shares

Electronic Arts exec sells all shares

Fri 10 May 2013 8:39pm GMT / 4:39pm EDT / 1:39pm PDT
BusinessPublishingFinancial

EA Sports executive VP Andrew Wilson unloads more than $687,000 worth of stock after Madden maker's price bump

Electronic Arts' stock price hit its highest level in over a year this week as the publisher announced an extension to its lucrative FIFA soccer license and an exclusive multiyear agreement to create Star Wars games for core gamers. That apparently prompted EA Sports executive vice president Andrew Wilson to sell high, as yesterday he sold his entire stake in the publisher.

As reported by GameSpot, an Electronic Arts filing with the Securities and Exchange Commission notes that Wilson sold over 32,000 shares of EA, the entirety of his beneficial ownership in the publisher. By selling the shares at an average price of just over $21.42 each, Wilson earned about $687,400 in the sale. An EA representative declined to comment on the sale.

Electronic Arts stock opened the week trading at $17.67. It closed trading on Friday up more than 22 percent to $21.64.

5 Comments

Andrew Ihegbu
Studying Bsc Commercial Music

416 112 0.3
That's a very small amount of stock to have in a billion dollar business that you are VP of. I can see him buying low again later.

Posted:11 months ago

#1

Jason Avent
VP, Studio Head

144 139 1.0
@Andrew - He didn't buy this stock. Beneficial Ownership means that it was probably all from stock options. Stock Options are more sensitive to increases and decreases in value and he'd consider them part of his pay. You could read this a number of ways such as he needs the money right now to buy a house or other large purchase. The newsworthy interpretation is that he doesn't feel like EA's share price is going to go up much further. When you've spent years with your options under water, you'll tend to develop a pessimistic outlook. : ) If Disney's share price is anything to go by, then an association with the Star Wars brand right when more movies are about to come out should be seen as a golden opportunity for shareholders. We'll see though. It's notoriously difficult to call.

Posted:11 months ago

#2

Lewis Brown
Snr Sourcer/Recruiter

194 41 0.2
I shall be selling some of my recently matured stock options as I need a new car :-) they might go up or down but I will still need a car! maybe he wants to buy a house who knows....

Posted:11 months ago

#3

Paul Jace
Merchandiser

770 1,005 1.3
I don't blame him. EA's stock might not go much higher than this for another number of years, if at all.

Posted:11 months ago

#4

Mary Hilton
Community Manager

35 17 0.5
Awfully well-timed sale, wasn't it?

I smell a whiff of insider trading going on here....and it doesn't matter if it was gifted to him, sold or willed in someone's will. He works for EA, and he made a very nice profit on a potential rise of a stock, and it could be deemed illegal if the SEC ever wanders over to check it out.

Although I don't personally blame him. I'd sell all my shares of EA stock if I had any-the company is wandering around doing strange things like closing entire divisions, shutting down studios, laying off people right and left-then announcing a new Sims game. Wonder who's left to make it?

Edited 1 times. Last edit by Mary Hilton on 15th May 2013 12:40am

Posted:11 months ago

#5

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