Activision CEO, Co-Chariman Sell $60 Million in Company Stock
Post by Oct , 2009-05-27 05:40:04 Source： Gamedaily Editor：ShirleyTags： Activision
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Bobby Kotick and Brian Kelly sold millions of shares for tens of millions of dollars last week, prior to GameStop's fiscal report.
Business Insider is reporting that Bobby Kotick and Brian Kelly sold roughly $60 million worth of Activision stock last week. The company's CEO sold 1.5 million shares for about $17 million, while the co-chairman moved 3.6 million shares to the tune of $42 million.
Both of the Activision executives profited greatly from the sale, as the company's stock has risen nearly a third during the first quarter of 2009. The timing of the move may have been significant, given that it happened right before GameStop's fiscal report, where the retailer said it expects sales to decrease next quarter.
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