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Finance

Kotick sells further Activision shares at profit of $17 million

Wed 18 Nov 2009 11:23am GMT / 6:23am EST / 3:23am PST
FinancePublishing

CEO exercises options on over 1.6 million of company's shares

Activision Blizzard

Headquartered in Santa Monica, California, Activision Blizzard, Inc. is a worldwide pure-play online...

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Activision CEO Bobby Kotick has exercised options on just over 1.68 million shares this week, in a move that has left him over USD 17 million better off. This comes just one week after the exec cashed in shares to the sum of USD 20 million.

By exercising options available to him as of April 18, 2000, Kotick was able to buy the shares at a price of USD 1.03 and sell them for between USD 11.61-11.72 each, leaving him a gross profit of USD 17,643,194.

Just last Wednesday, Kotick exercised options on over 1.93 million shares making him a sum of USD 20,194,957.

First day sales of Call of Duty: Modern Warfare 2 in the US and UK alone are estimated to have generated USD 310 million for Activision. The game has become the highest grossing videogame launch ever in the UK with ELSPA calling it "amongst the biggest entertainment events in history."

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