Activision and EA insiders have been profiting from selling stock during buybacks

first_imgActivision and EA insiders have been profiting from selling stock during buybacksCEOs Bobby Kotick and Andrew Wilson have made millions, but companies insist there is no improper practiceJames BatchelorEditor-in-ChiefThursday 7th November 2019Share this article Recommend Tweet ShareCompanies in this articleActivision BlizzardElectronic ArtsLeading video game publishers Activision Blizzard and Electronic Arts are among the many major firms where company insiders have been profiting greatly during buyback programs.An investigation by The Washington Post reveals that officials have sold their own share in the wake of the buyback announcement for considerably more than they would have just days before. But the newspaper also notes that rules laid out by the Securities and Exchange Commission do allow insider selling during a buyback.The most prominent example in the report centres around Call of Duty and Candy Crush publisher Activision Blizzard, which announced a $1 billion buyback program in February 2017.This was announced on February 9, and by February 17 five top Activision officials had sold shares for over $430 million, according to their SEC filings.Among them was CEO Bobby Kotick, who sold nearly four million shares for $180.8 million the day after the announcement — 15% higher than he would have sold them for before stock rose based on the news. Kotick’s business partner and chairman of the board Brian Kelly sold over five million shares for $230.1 million.However, during the entire buyback program, Activision did not repurchase any of its shares. The same happened when the publisher announced a $750 million buyback in February 2015 — two years on, not one share had been purchased.In a statement to the Post, Activision said it did not do anything improper, and that some insider sales follow buyback announcements because this is when a quarterly window opens up for employees to trade if they want to and usually coincides with annual earnings reports.The publisher also emphasised that Kotick “and other officers and directors continued to own millions of shares, ensuring the alignment of their interests with the rest of our shareholders.””Consistent with common practice, we don’t comment on why we purchase or do not purchase shares, but it is completely incorrect and irresponsible to asset that our Board of Directors’ authorisations were entered into for any improper purpose.”Another example given was Electronic Arts, which also announced a buyback program in 2017. Within 23 days, CEO Andrew Wilson sold shares for $2.1 million at prices between 12% and 19% higher than they were before the announcement.Related JobsSenior Game Designer – UE4 – AAA United Kingdom Amiqus GamesProgrammer – REMOTE – work with industry veterans! North West Amiqus GamesJunior Video Editor – GLOBAL publisher United Kingdom Amiqus GamesDiscover more jobs in games EA spokesperson John Reseburg told the Post that Wilson’s stock sales were part of a prearranged trading program and done “without his direct input.” He emphasised that this was all in accordance with SEC rules.In its investigation, the Washington Post found that at least 500 insiders at various companies sold shares during buyback programs within a 15-month period across 2017 and 2018. More than 50 of these were CEOs.SEC Commissioner Robert Jackson told the Post: “Isn’t it market manipulation for a company to say we’re doing a buyback and then an officer says, ‘I’m going to sell’?”Celebrating employer excellence in the video games industry8th July 2021Submit your company Sign up for The Publishing & Retail newsletter and get the best of GamesIndustry.biz in your inbox. Enter your email addressMore storiesEA leans on Apex Legends and live services in fourth quarterQ4 and full year revenues close to flat and profits take a tumble, but publisher’s bookings still up double-digitsBy Brendan Sinclair An hour agoActivision Blizzard wins patent lawsuit after nine yearsThe judge ruled that the patents were “not inventions” of Worlds Incorporated, which was suing for infringementBy Marie Dealessandri 6 days agoLatest comments (1)Simon Weisgerber Independent Japanese/English to German Localization Specialist, Freelance – GamingA year ago Well, there is a shocker… XD 0Sign inorRegisterto rate and replySign in to contributeEmail addressPasswordSign in Need an account? Register now.last_img read more

Need for creating awareness for Scientific education in some sections of society.

first_imgIn last few days since the involvement of tabligi jamat of Nizamuddin in Delhi is being revealed most of the educated people from debating in the news channels defending tabligi jamat as a group or organization of illiterate people. At the initial stage some tried to explain the activities of tabligi jamat as an Institution to train people for a better life specially training the youth who are in aberration. Is this a real truth that those who are being trained in such an institution are illiterate and at the same time the trainer who train them are also illiterate? In Political Science the concept of the Nation is defined as an individual. The anatomy of human body can be compare to that of a Nation. As in case of a human body all parts or organs must be in good condition for proper functioning of the whole body similarly development of all sections of a Nation is very much essential for proper functioning of a Nation. Education is major in this regard towards the development of a Nation for which special emphasis and initiatives are always being granted in our country. In case some sections of our society are not interested to be educated with scientific education than it is the duty of the educated class present within that society create an awareness within the common people who must be brought towards the light of education. In our country for last so many decades education is being provided free along with free books, school dresses and midday meal. Apart from this there are schemes to support the meritorious students with scholarship, laptop, etc. Schemes for girls education is also available in every state of our country. When this the reality than how such a large number of people in society remained illiterate that is big question.center_img One should always remember the fact that the whole country shouldn’t suffer for the ignorance or negligence of some illiterate people  as it happened in case of COVID-19 cases of tabligi jamat.last_img read more

Rolex Kentucky Three-Day Event: Dressage

first_img Horse Sport Enews Subscribe to the Horse Sport newsletter and get an exclusive bonus digital edition! William Fox-Pitt (GBR) and the eye-catching chestnut stallion Chilli Morning set the competition alight at the Rolex Kentucky Three-Day Event (USA), third leg of the 2012/2013 HSBC FEI Classics™, with a superb Dressage test, to go into the lead with a 4.7 penalty advantage.But a thrilling showdown is now assured as Andrew Nicholson (NZL), Fox-Pitt’s only challenger for the Rolex Grand Slam, is breathing down his neck in second and third places with Quimbo and Calico Joe.Nicholson, the current HSBC FEI Classics™ leader after his victory at Pau (FRA) last year, scored the only other sub-40 penalties mark with the exciting prospect Quimbo. Earlier, he set an early standard with a mark of 40.8 on his first ride, Calico Joe, who put in a significantly improved performance in this phase.“I hoped the test would score in the 30s and I did have a sneaky look at the scoreboard, at which point I thought ‘OK, right!” said Fox-Pit, who has won at Kentucky twice before, in 2010 and last year.“It can be quite demoralising to look at the marks sometimes, but this was feeling so good I thought it was worth the risk. Chilli has an amazing presence and loves being in the arena where he thinks he’s king.”Chilli Morning was fifth at Pau last year, but a stallion has never won at CCI4* level before – there are currently only three competing at this level in the world. However, Fox-Pitt, who took over the ride last year after the horse was produced by British rider Nick Gauntlett, explained: “It puts him under extra pressure, of course, but he’s got a great temperament. He’s a very dear, kind horse that you can give a cuddle to. He never puts his ears back and is a real gentleman.”In contrast to the vast combined experience of Fox-Pitt and Nicholson, fourth-placed Alexandra Knowles (USA), a young rider and CCI4* débutant based locally in Paris, Kentucky, has found herself in exalted company. She scored the excellent mark of 43.3 on the mare Last Call and is 0.7 ahead of another big name, Mary King (GBR), riding the grey Fernhill Urco. King, the 2011 winner at Kentucky, is tied in fifth place with last year’s HSBC Training Bursary winner, Marilyn Little (USA) on RF Demeter.Fox-Pitt, who will be first out of the 46-starter field on tomorrow’s Cross Country course on Seacookie TSF, currently lying 10th, says he is looking forward to riding Derek di Grazia’s course. “It looks a superb course, but we all know that things can change. There are some big questions out there, and lots of turns and skinny fences, but the footing is amazing, especially considering all the rain we had on Wednesday.”Results after Dressage1 William Fox-Pitt/Chilli Morning (GBR) 33.32 Andrew Nicholson/Quimbo (NZL) 38.03 Andrew Nicholson/Calico Joe (NZL) 40.84 Alexandra Knowles/Last Call (USA) 43.35 Mary King/Fernhill Urco (GBR) 43.76 Marilyn Little/RF Demeter (USA) 43.77 Becky Holder/Can’t Fire Me (USA) 44.28 Buck Davidson/Ballynoe Castle RM (USA) 45.29 Shandiss McDonald/Rockfield Grant Juan (USA) 45.710 William Fox-Pitt/Seacookie TSF (GBR) 46.2See full leaderboard here. Tags: HSBC FEI Classics, Rolex Kentucky Three-Day Event, William Fox-Pitt, Andrew Nicholson, Chilli Morning, Quimbo, Calico Joe., We’ll send you our regular newsletter and include you in our monthly giveaways. PLUS, you’ll receive our exclusive Rider Fitness digital edition with 15 exercises for more effective riding. Email* SIGN UP More from Horse Sport:Christilot Boylen Retires From Team SportAfter an exemplary career as one of Canada’s top Dressage riders, seven-time Olympian Christilot Boylen has announced her retirement from team competition.2020 Royal Agricultural Winter Fair CancelledFor only the second time in its history, The Royal Agricultural Winter Fair has been cancelled but plans are being made for some virtual competitions.Royal Agricultural Winter Fair Statement on 2020 EventAs the Province of Ontario starts to reopen, The Royal’s Board and staff will adhere to all recommendations put forward by government and health officials.Government Financial Assistance for Ontario FarmersOntario Equestrian has recently released this update of several financial assistance packages available, including those for farm business.last_img read more

Ambulance Operators to Seek State’s Help

first_imgOKLAHOMA CITY — Ambulance operators struggling with the problem of providing rural emergency services decided Tuesday to plead their case before the Legislature. The operators said they are facing a crisis because many ambulance services are going out of business and that those that remain are unable to pick up the slack in neighboring communities. Click here to read full story.last_img

From the Sidelines, a Bid to Stop a Strike

first_imgCLARK COUNTY, Nev. — Clark County Commission Chairman Rory Reid and Las Vegas Mayor Oscar Goodman urged both sides in a looming paramedic strike last week to resolve their differences and negotiate a contract for the sake of the community. Click here for full story. But about all that city and county officials can do is express their concern. They have no direct role in helping avert a strike. The two sides need to talk, Goodman said of the paramedics and the company they work for, American Medical Response. We asked them to resolve this because it may jeopardize the health and safety of our residents, Reid said at a news conference.last_img read more

Beatles’ Kids May Tour Someday: McCartney, Lennon, Harrison and Starkey Sons

first_imgZak Starkey currently drums for the Who. Each of the others is also an active professional musician — as is Julian Lennon, the only one of the sons to score a commercial hit (Too Late for Goodbyes).(READ the story from the Guardian)Photo of Sean Lennon by Gina Benedetti, 2007-GNUAddThis Sharing ButtonsShare to FacebookFacebookFacebookShare to TwitterTwitterTwitterShare to EmailEmailEmailShare to RedditRedditRedditShare to MoreAddThisMore AddThis Sharing ButtonsShare to FacebookFacebookFacebookShare to TwitterTwitterTwitterShare to EmailEmailEmailShare to RedditRedditRedditShare to MoreAddThisMoreJames McCartney revealed in an interview recently that he has discussed the possibility of uniting with other sons of the Fab Four to form “the Beatles – the Next Generation”.“I’d be up for it,” the 34-year-old said. “Sean [Lennon] seemed to be into it, Dhani [Harrison] seemed to be into it … I don’t think it’s something that Zak [Starkey] wants to do. Maybe Jason [Starkey, another drummer] would want to do it … I don’t know, you’d have to wait and see.”last_img read more

Single Mom Who Grew Up in Foster Care Adopts Six Brothers So They Can All Stay Together

first_imgIn addition to co-parenting two biological sons with her ex-husband, Benzakein welcomed the six boys from the foster care system several years ago.RELATED: Hundreds of Americans Become Foster Families to Ailing Senior Veterans, Opening Up Their Hearths and HomesFour of the boys are biological brothers currently ranging in age from 8 to 18; the other two boys, aged 4 and 6, are also related.The youngsters were originally only supposed to stay with Benzakein for a weekend, but those few days quickly turned into several years as a happy family—which was officially sanctioned earlier this week when Benzakein adopted the boys to become their legal guardian.“Everybody tells me how lucky these kids are and what a good thing I did,” the 46-year-old mother told TODAY. “But … I’m going to cry … they grounded me. I went through my 20s thinking I didn’t really need a family. But I did.”“They give me purpose.”(WATCH the news coverage below) – Screenshot image from WTMJ-4 News videoBe Sure And Share The Inspiring Story With Your Friends On Social Media…AddThis Sharing ButtonsShare to FacebookFacebookFacebookShare to TwitterTwitterTwitterShare to EmailEmailEmailShare to RedditRedditRedditShare to MoreAddThisMore AddThis Sharing ButtonsShare to FacebookFacebookFacebookShare to TwitterTwitterTwitterShare to EmailEmailEmailShare to RedditRedditRedditShare to MoreAddThisMoreAfter experiencing years of childhood loneliness in the foster care system, this single mother has just adopted six young boys into her home.Jessica Benzakein was only 12 years-old when her mom surrendered her to the state. Since older foster kids are far less likely to get adopted, Benzakein languished in the foster care system until she turned 18, and then headed off to college.Benzakein spent many holidays as a young woman wishing for a family—so when she finally had a house of her own in Milwaukee, Wisconsin, she decided to open her heart and home to foster kids and siblings who were enduring the same struggles she had as a child.last_img read more

HTC-High Road Team Bio Vid: These Are Not Bland People

first_img“They should be open, honest, and speak their minds.” – Bob Stapleton on the HTC-High Road TeamAnd they do just that. The first thing we hear Cavendish say in the video is: “There’s nothing worse than a blind person.” What does Mark Cavendish have against the blind? What kind of  jerk is this guy? Oops, I guess he says “bland person,” “there’s nothing worse than a bland person.” He’s just got a really thick accent, honest mistake.The vid is worth the watch for memorable quotes like the ones below…“He is better looking than me, have a look at him, he’s a specimen.” – Mark Cavendish on Bernhard Eisel“He walks around in the room, all his muscles out and I’m like…I don’t feel quite as much of a man anymore.”- Cavendish on Bernhard Eisel“I don’t do modest, I expect to actually win something this year.” -Tejay Van Garderen“You know, I’m not a [Bleepin’] animal, I’m a human being you know.” – Mark Cavendishlast_img read more

Following Santa Fe killings, Yoder says Congress should work on bipartisan ideas, warns against ‘politicizing’ shootings

first_imgRep. Kevin Yoder said that people seeking to “politicize” school shootings ” only sow further division and discord, setting back our efforts to come up with lasting, bipartisan solutions to these problems.”In the hours after the school shooting in Santa Fe, Texas, that left 10 people dead and more than a dozen others injured, Rep. Kevin Yoder said he and his wife Brooke were “praying for the victims and hurting for the parents who have lost their children.”A thread posted on Yoder’s Twitter account called on Congress to “build upon the bipartisan bills” that make changes to the background check system, lift restrictions on the CDC conducting gun violence research, ban bump stocks like the ones used in the Las Vegas massacre, and increase funding for school security efforts.But, as his office did after the Parkland killings, Yoder warned against efforts to “politicize” the debate over how to stop school shootings.“Those who choose to politicize these tragedies only sow further division and discord, setting back our efforts to come up with lasting, bipartisan solutions to these problems,” he wrote. “I will continue to work with Americans on both sides of the gun safety debate as we work to come up additional common sense reforms that help get at the root of the problems we face.”Yoder’s acceptance of campaign contributions from the National Rifle Association has become a hot-button issue among the large field of Democratic challengers vying to take him on in November’s election. And over the weekend several of them issued statements on gun control of their own, referencing not on the Santa Fe killing, but the shooting after a graduation ceremony held at Leawood’s Church of the Resurrection and the investigation into a student bringing a shotgun to SM East on Friday.Here are their statements:How many more kids have to will be killed waiting for our politicians to show some decency? Of all the horrifying, abnormal news of the Trump era, no scandal is bigger than the cowardice of Congress before the NRA.— Tom Niermann (@TomNiermann) May 18, 2018<span data-mce-type=”bookmark” style=”display: inline-block; width: 0px; overflow: hidden; line-height: 0;” class=”mce_SELRES_start”></span>last_img read more

Rombough has record setting day at Classic

first_imgRombough has record setting day at ClassicJanuary 25, 2009Jump to CommentsShare on FacebookShare on TwitterShare via EmailPrintJunior distance runner Chris Rombough set a new school record in the 3,000-meter run to highlight the University of Minnesota track and field teamsâÄô successful weekend at the Jack Johnson Classic. Rombough, one of seven Gophers to win an individual title this weekend, posted a time of 8:00.66 âÄî an NCAA provisional qualifying time that edged Minnesota sophomore Hassan Mead for SaturdayâÄôs individual title. Rombough said he was pleased by his performance this weekend considering how young the season is. âÄúItâÄôs really encouraging,âÄù he said. âÄúI may have the fastest time in the country right now in the 3,000-meters.âÄù Pushing each other in the Gophers long-distance races is nothing new for Mead and Rombough. The duo has competed with each other since Mead arrived on campus two years ago and consistently headlined a Gophers cross country team that finished 15th at the NCAA Cross Country championships last fall. Meanwhile, junior R.J. McGinnis paced a 1-2-3 finish for Minnesota in the heptathlon with a 5,511 point total. Sophomores Brock Spandl and Joey Schwecke finished second and third, respectively. Senior Ibrahim Kabia, who came into the weekend with the nationâÄôs second-fastest time in the 60-meter dash, was unable to improve his time but still won the event with a time of 6.73 seconds. Other Gophers to earn individual titles were junior Logan Stroman in the 600-meter dash, pole-vaulter junior Joe Plencner , redshirt freshman Tom McNamara in the long jump and junior Raymond Blackledge in the triple jump. Women have equal success Senior Heather Dorniden paced a 1-2-3 finish for the Gophers in the 800 meters, where the Rosemount alum has earned six All-American honors. Dorniden recorded a time of 2:05.51 for the individual title âÄî edging teammates Jamie Cheever and Julie Schwengler , who finished second and third, respectively. âÄúThatâÄôs [DornidenâÄôs] event. SheâÄôs won a national championship in it,âÄù Gophers coach Matt Bingle said. âÄúGoing into the weekend, [her time] might have been the No. 1 time in the country.âÄù âÄúIf not No. 1, itâÄôs top three or four.âÄù Junior Alicia Rue didnâÄôt improve her nation-leading height in the pole vault but did still take top honors, as did sophomore Natalie Devine in the high jump. Senior Kari Schmidt took home the individual title in the shot put, senior Christin Kingsley won the long jump, freshman Adrienne Thomas took home top honors in the 400-meter dash and sophomore Kelly Wilson won the 5,000-meter run. The Gophers 4×400 relay team of Dorniden, junior Chioma Omeoga, freshman Kylie Peterson and freshman Nyoka Giles also took first place. âÄúWe have a lot of work to do. The next two weeks are important for us,âÄù Bingle said. âÄúYeah we had some great performances, but everybody has something to work on.âÄùlast_img read more