Ben-DutkaWell, sure. The stock just skyrocketed, so why not sell? Still, it's the company you work for…is it ethical?
A certain document is making the Internet rounds; it's an SEC document that was filed Thursday, and it shows that EA executive vice president Andew Wilson sold every last share he owned in the publisher: All 32,085 shares were sold at $21.42 each, which resulted in a $687,000 windfall.
Wilson doesn't have any shares left, and he's the only EA executive to currently hold zero shares. EA stock rose quickly after the company released some promising financial results; there was also the encouraging news of the FIFA license extension along with a full-year revenue haul of $3.79 billion. So the stock rose 17% to $21.56, the highest point it has reached since 2011. See, I should've bought some stock last year when it was much lower, because I kinda foresaw this happening. EA was pretty well positioned to have a decent year, I thought, although I couldn't have predicted the FIFA renewal.
Looks like Wilson wanted to take immediate advantage. Can't really blame him, now can you?
Considering Activision's CEO made 65 Million, this guy's $687,000 stock option really seems like a nonstory.
Here's a story, the disparity between corporate CEO pay and their average worker pay has grown 900% since the 1950's.
The other part of that story is that there are about fifty more steps between the average worker and the CEO than there were in the 50s. There also weren't as many companies that could be considered massive worldwide monopolies (like Microsoft and Bill Gates or Apple and Steve Jobs).
No I can't blame him because after these cuts and the loss of talent and the games going downhill those stocks are gonna sink soon. I'd dump. I don't think I have any stock in them, I should check.
That to me is a sign that if you have stock in them get out now! No one at that level with that much stock would dump it all if they thought the company was going to keep gaining traction, so I personally would take it as a sign that EA is in for some rough times over the next couple of years.
Or on the other hand maybe he is broke and needed the money, could be that he is bad with money, which wouldn't be the first time someone has done this.