Keilun wrote on Jan 20, 2022, 10:30:
PropheT wrote on Jan 20, 2022, 02:29:
The vast majority of his $390 million payout will come from the 3.95 million shares that he owns, according to securities filings. Since Kotick doesn’t own any unvested equities, he will not be entitled to a change of control payment.
So, correct me if I'm wrong here, but...isn't the headline complete bullshit made up to stir outrage clicks, then? He's not getting a payout as any part of this deal, he's exercising vested stock options that were part of his pay before the deal was made. At the current stock price 3.95 million shares is also about $324.5 million, not a $390 million that's based on a peak stock price from almost a year ago. There's a reason why the NY Post was once rated as the least credible news outlet in New York, I guess.
Just clarifying that the value of his stock would be based on the terms of the acquisition deal which is $95.00 per share. That's $375M which is still off from the $390M so your point still stands.
Yeah, he keeps the stock he owns, and that's the bulk of the $390 mil, so it's not exactly a golden parachute. HOWEVER, there are reports that there's a clause in his contract that he gets $400 million if he is 'terminated without established clause'. But we don't know if that applies to this deal, or what back room deal may have been made.
Microsoft is very much aware of the bad publicity following Kotick, and they themselves have a good reputation for having a good workplace environment, so I wouldn't be surprised if they try to minimize the negative publicity by sweeping Kotick out the door as quickly and quietly as they can, and basically telling him to be happy with his stock options, and a quiet exit.
From tweets posted by devs working at ActiBliz, seems like most of them are happy about working for Microsoft.
- “The planet is fine. The people are fucked.” -George Carlin