The saddest bit is the staggering numbers of non-wealthy Americans who insist our economy isn’t completely rigged against them and rigged for existing capital holders, as if sucking up will grant them access into the little club doing the rigging one day.
They’re the poor deluded bastards that keep us stuck in it. “This is fine haha! I’ll fight you if you try to improve how fine it is haha! Give our glorious job creators everything and pray for rain haha!”
Come on people you’re all staring at flashing LEDs distracting you and you’re ignoring the giant spolight of Riccitiello’s ownership of over 400,000 EA shares.
He moved the EA stock price by 2 dollars the day they announced the Unity deal.
Unity did a bad thing, but the stock sale here is a complete non-event.
According to Guru Focus, Unity CEO John Riccitiello, one of the highest-paid bosses in gaming, sold 2,000 Unity shares on September 6, a week prior to its September 12 announcement. Guru Focus notes that this follows a trend, reporting that Riccitiello has sold a total of 50,610 shares this year, and purchased none.
He receives and sells stock constantly, as do most execs of publicly traded companies. Their compensation is majority stock, which incentivizes them to maximize stock prices since a higher price means more money RIGHT NOW for them. Look up any publicly traded company and peek at their insider trading info. Microsoft as a random reference and here’s Unity so you can see everyone else and the long term trends.
The piece cites Guru Focus as their source of this info as if they have some keen inside information or something, but it’s literally public data that anyone with an internet connection can look up as these sorts of notices are required for publicly traded companies. Riccitiello only sold about $83k worth of stock before the announcement for a total of about $1.1M worth of stock this year, vs about $33M last year, and close to $100M in 2021. The idea that he dumped $83k worth of stock to beat bad news Unity was dropping is just a hilariously bad take.
Twitter, Reddit, Netflix, Unity, we keep asking why these corporations are so greedy, but we know the answer. Because we let them be.
Why shouldn’t Google sell your porn history to the Saudis and Russians? Is your use of their search engine/apps going to change if they do? Even if it does, does it effect their sales? Are they actually going to be held accountable for their scumbag actions? Why should they give the slightest FUCK about you, if you’re never going to cause a problem for them?
It’s a low amount though (2000*36=€72k). What is more concerning is his 50,610 shares that he sold in total in the past year, as now that is a fairly big amount if he planned this move many months ago.
To be fair, these guys are much more suspicious:
Chief among them being Tomer Bar-Zeev, Unity’s president of growth, who sold 37,500 shares on September 1 for roughly $1,406,250, and board director Shlomo Dovrat, who sold 68,454 shares on August 30 for around $2,576,608.
EDIT:
Yeah, nothing really unusual in Riccitiello’s trades. He may be an asshole but that’s no reason to immediately accuse him of insider trading for a lousy $77.15k worth of shares given that he already has a pattern of selling way bigger amounts:
Yeah, 2000 is nothing compared to the 50k shares he sold already. I think the bigger data point is probably how many shares does he own in total. It’s not uncommon to diversity and minimize some exposure to one company. Give stock is a major compensation structure for ceo’s, it makes sense they they liquidate it at periodically. I’m curious is September 1 is a vesting day or something for stock awards.
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This should be beyond illegal.
This kind of white collar crime should be punishable in days for dollars.
The saddest bit is the staggering numbers of non-wealthy Americans who insist our economy isn’t completely rigged against them and rigged for existing capital holders, as if sucking up will grant them access into the little club doing the rigging one day.
They’re the poor deluded bastards that keep us stuck in it. “This is fine haha! I’ll fight you if you try to improve how fine it is haha! Give our glorious job creators everything and pray for rain haha!”
Come on people you’re all staring at flashing LEDs distracting you and you’re ignoring the giant spolight of Riccitiello’s ownership of over 400,000 EA shares.
He moved the EA stock price by 2 dollars the day they announced the Unity deal.
Unity did a bad thing, but the stock sale here is a complete non-event.
He receives and sells stock constantly, as do most execs of publicly traded companies. Their compensation is majority stock, which incentivizes them to maximize stock prices since a higher price means more money RIGHT NOW for them. Look up any publicly traded company and peek at their insider trading info. Microsoft as a random reference and here’s Unity so you can see everyone else and the long term trends.
The piece cites Guru Focus as their source of this info as if they have some keen inside information or something, but it’s literally public data that anyone with an internet connection can look up as these sorts of notices are required for publicly traded companies. Riccitiello only sold about $83k worth of stock before the announcement for a total of about $1.1M worth of stock this year, vs about $33M last year, and close to $100M in 2021. The idea that he dumped $83k worth of stock to beat bad news Unity was dropping is just a hilariously bad take.
Pretty much every smoking gun insider trading story trending in social media.
Twitter, Reddit, Netflix, Unity, we keep asking why these corporations are so greedy, but we know the answer. Because we let them be.
Why shouldn’t Google sell your porn history to the Saudis and Russians? Is your use of their search engine/apps going to change if they do? Even if it does, does it effect their sales? Are they actually going to be held accountable for their scumbag actions? Why should they give the slightest FUCK about you, if you’re never going to cause a problem for them?
No. They’re not.
It’s a low amount though (2000*36=€72k). What is more concerning is his 50,610 shares that he sold in total in the past year, as now that is a fairly big amount if he planned this move many months ago.
To be fair, these guys are much more suspicious:
EDIT:
Yeah, nothing really unusual in Riccitiello’s trades. He may be an asshole but that’s no reason to immediately accuse him of insider trading for a lousy $77.15k worth of shares given that he already has a pattern of selling way bigger amounts:
EDIT 2:
Here’s Riccitiello’s filing for that trade: https://www.secform4.com/filings/1810806/0001810806-23-000163.htm
Read in particular this part:
That’s not insider trading. That’s a pre-planned trade (see Investopedia’s entry about Rule 10b5-1) that would have been executed no matter what.
Yeah, 2000 is nothing compared to the 50k shares he sold already. I think the bigger data point is probably how many shares does he own in total. It’s not uncommon to diversity and minimize some exposure to one company. Give stock is a major compensation structure for ceo’s, it makes sense they they liquidate it at periodically. I’m curious is September 1 is a vesting day or something for stock awards.
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So, these guys thought that this move would be bad for the company, so they sold off stock. It’s crooked, but I understand that.
I don’t understand why you would move forward with the change in dev fees or whatever if you think it is going to be bad for the business.
They likely think it will be bad in the short term.