Activision CEO Bobby Kotick Could Receive $15M "Golden Parachute" In Microsoft Deal
While there are still many questions as to what Microsoft's acquisition of Activision Blizzard means for the publisher, one thing seems certain: despite the numerous misconduct allegations thrown his way, current CEO Bobby Kotick appears set to leave the company with quite the chunk of change.
As reported by Axios, an extensive SEC filing outlining the details of Microsoft's purchase of Activision Blizzard offers Kotick a few different options to walk away with a substantial payout. Most notable is the clause that states if the CEO is fired without cause by Microsoft, he’ll be entitled to a $15 million “golden parachute" from the company. Additionally, if Activision’s board sees an improvement in company culture, the filing states that Kotick could receive as much as $22 million in stock later this year. Last but certainly not least, as of right now Kotick owns (or has the right to acquire) 6.5 million shares of Activision Blizzard, which--at Microsoft's buyout price--will be worth approximately $619 million. It is currently unclear what kind of financial compensation Kotick might receive if fired for cause.
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According to Axios, the filing also indicates that the board «may extend Kotick’s contract by 12 months beyond its current March 2023 expiration,» well past how long outlets first reported Kotick would remain at Activision following Microsoft's acquisition of the company. This update is particularly shocking,
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