Activision Blizzard has stated in a new U.S. Securities and Exchange Commission filing that its CEO, Bobby Kotick, and Microsoft have not discussed what his potential employment status will be following the completion of Microsoft’s acquisition of the company.
This news comes by way of Axios’ Stephen Totilo on Twitter, who noted over the weekend that on Friday, April 15, Activision Blizzard added a line to its main filing about its planned sale to Microsoft.
Here’s what the new line is, in full:
“No discussions or negotiations regarding post-closing employment arrangements with Microsoft occurred between Microsoft and Mr. Kotick prior to the approval and execution of the merger agreement and the transactions contemplated thereby, or have occurred subsequent to such approval and execution, through the date hereof.”
On Friday, Activision added a line to its main filing about the planned sale to Microsoft, stressing that Microsoft and Bobby Kotick haven't discussed nor negotiated his post-merger employment status.https://t.co/w9N3sXZM2g
As you can see, it’s quite clear in meaning: Kotick and Microsoft have not discussed plans for Kotick and his role, if any, at the company following Microsoft’s purchase of Activsion Blizzard.
In light of all that, many have speculated that Kotick would receive what’s known as a “golden parachute” upon the closing of the acquisition. This parachute would seem him step down from his position as Activision Blizzard CEO with a hefty amount of money in his pocket to do so after the merger . Only time will tell if that happens, but according to this new SEC filing, discussions of such a golden parachute or even more plainly, Kotick’s employment status after the acquisition, have not occurred.
Editor's Note: An earlier version of this story referred to the SEC filing as a "court filing." That is inaccurate and the article has been updated to reflect this change.
Activision Blizzard has stated in a new U.S. Securities and Exchange Commission filing that its CEO, Bobby Kotick, and Microsoft have not discussed what his potential employment status will be following the completion of Microsoft’s acquisition of the company.
This news comes by way of Axios’ Stephen Totilo on Twitter, who noted over the weekend that on Friday, April 15, Activision Blizzard added a line to its main filing about its planned sale to Microsoft.
Here’s what the new line is, in full:
“No discussions or negotiations regarding post-closing employment arrangements with Microsoft occurred between Microsoft and Mr. Kotick prior to the approval and execution of the merger agreement and the transactions contemplated thereby, or have occurred subsequent to such approval and execution, through the date hereof.”
On Friday, Activision added a line to its main filing about the planned sale to Microsoft, stressing that Microsoft and Bobby Kotick haven't discussed nor negotiated his post-merger employment status.https://t.co/w9N3sXZM2g
As you can see, it’s quite clear in meaning: Kotick and Microsoft have not discussed plans for Kotick and his role, if any, at the company following Microsoft’s purchase of Activsion Blizzard.
In light of all that, many have speculated that Kotick would receive what’s known as a “golden parachute” upon the closing of the acquisition. This parachute would seem him step down from his position as Activision Blizzard CEO with a hefty amount of money in his pocket to do so after the merger . Only time will tell if that happens, but according to this new SEC filing, discussions of such a golden parachute or even more plainly, Kotick’s employment status after the acquisition, have not occurred.
Editor's Note: An earlier version of this story referred to the SEC filing as a "court filing." That is inaccurate and the article has been updated to reflect this change.
