EA CEO sells 26,700 shares
Electronic Arts chief executive Larry Probst has exercised options on 26,700 shares, the company said in a filing with the US Securities and Exchange Commission, raking in a huge profit.
The chief executive of Electronic Arts exercised options on 26,700 shares of EA stock on Tuesday for a profit of just over £1.22 million (or $1.96 million), according to a filing with the US Securities and Exchange Commission.
Larry Probst exercised options on the shares at $11.75 each and sold those shares at $85.06 for a profit of £1.22m.
This is not the first time this year that Probst has exercised his stock options either. In fact since May 27, Reuters reports that Probst has generated profits of over £8 million ($13 million) in six separate transactions.
Shares in Electronic Arts hit an all-time high of $86.30 on Monday on the Nasdaq. They are currently trading at $86.15.
This performance is likely to be at least partly down to news that EA will be paid $27.5 million over two years by AOL for the rights to carry the publisher's online games.