The US Securities and Exchange Commission (SEC) released new documents Wednesday detailing additional information about Microsoft’s nearly $69 billion acquisition of Activision Blizzard.
The document describes the fate of Activision Blizzard CEO Bobby Kotick. The most interesting point is that if he is fired by Microsoft for no reason, he will be entitled to receive compensation from Microsoft in the amount of $15 million. In addition, if Activision Blizzard sees an improvement in corporate culture, Kotick could receive a $22 million reward later this year.
The documents also indicate that the board of directors can extend Kotick’s contract for 12 months after its expiration in March 2023. Just a few weeks ago, Microsoft and Activision Blizzard allegedly agreed that Kotick would leave the company shortly after the deal closed.
Kotick currently owns 6.5 million Activision Blizzard shares, which are valued at approximately $619 million at Microsoft’s purchase price. In October, Kotick took a pay cut in response to the company scandal and said he would forego bonuses until the board saw improvement.
The company expects revenue to grow by nearly $2.5 billion in 2023. Popular games have contributed to this, including the recently delayed release of Overwatch 2 and Diablo 4.
Source: ixbt
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