Kotick exercises stock options worth $20 million
Modern Warfare 2 launch week provides Activision boss with hefty pay-day
Activision CEO Robert Kotick has exercised options on just over 1.93 million shares this week, allowing him to buy them at a price of USD 1.03 and sell them at between USD 11.43-11.54 each.
The initial options, which dated from April 18, 2000, cost just under USD 2 million to purchase, while generating USD 22.2 million when sold, leaving the publishing boss USD 20,194,957 better off.
Meanwhile, one of the company's directors - Brian Kelly - also exercised options which he acquired in 2004 and 2006, costing USD 5.1 million and selling for USD 15.6 million - the balance being USD 10.5 million.
Both moves came on Wednesday, a day after the global launch of Infinity Ward-developed Modern Warfare 2, which the company has estimated grossed USD 310 million in the UK and US markets on its first day on sale.