Activision Blizzard CEO Bobby Kotick might receive $15 million if he is fired for no reason, according to an SEC filing that details some of the circumstances of Microsoft’s $68.7 billion purchase of the company.
Under Kotick’s watch, Activision Blizzard got under investigation by California’s Fair Employment and Housing Department for its culture of sexual misconduct.
As a result, Kotick faced numerous calls for his resignation. He agreed to take a pay cut in October in response to the scandals, and said he would forego bonuses until the board sees improvement in company culture. This latest SEC filing shows that if this development materializes, it could buy up to $22 million in stock in July or later.
The document also indicates that the board may extend Kotick’s contract 12 months after its planned March 2023 expiration date. Previously revealed information was that Kotick would leave the company after being swallowed by Microsoft.
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