SEC Form 4 · accession 0001352027-17-000013
Activision Blizzard, Inc. · ATVI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael Morhaime
Officer — Pres. & CEO-Blizzard Ent.
Period of report
May 8, 2017
Accepted (ET)
May 10, 2017 · 7:58 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000718877
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, par value $0.000001 per shareF2,F1 | May 8, 2017 | A | 145,860 | $0.00 | A | 285,859 | D | |
| Common Stock, par value $0.000001 per shareF3 | holding | — | — | — | 22,543 | I | Securities held by Mr. Morhaime's wife | |
| Common Stock, par value $0.000001 per shareF4,F5 | holding | — | — | — | 369,821 | I | See footnote. |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock OptionsF6 | $53.99 | May 8, 2017 | A | 241,953 | A | — | May 8, 2027 | Common Stock, par value $0.000001 per share | 241,953 | 241,953 | D |
Explanation of responses
- F1Following the transactions reported on this Form 4, Mr. Morhaime directly holds (a) 145,860 performance-vesting restricted stock units, each representing the right to receive one share of the Company's common stock and (b) 139,999 time-vesting restricted stock units, each representing the right to receive one share of the Company's common stock.
- F2This grant was for 145,860 performance-vesting restricted stock units, each representing the right to receive one share of the Company's common stock. The number assumes maximum performance; target performance would result in the release of 116,688 shares of the Company's common stock. One-third of the restricted stock units vest on each of March 31, 2019, March 31, 2019 and March 31, 2020, based upon the level of performance measured by reference to Blizzard Entertainment's operating income for 2017, 2018 and 2019, respectively.
- F3Mr. Morhaime indirectly holds, through his wife, (a) 12,861 shares of the Company's common stock and (b) 9,682 performance-based vesting restricted stock units, each representing the right to receive one share of the Company's common stock.
- F4Mr. Morhaime indirectly holds, through the Michael Morhaime Revocable Trust, 369,821 shares of the Company's common stock.
- F5These securities are held by the Michael Morhaime Revocable Trust.
- F6Two-thirds of these options vest on March 31, 2019 and the remaining one-third vest on March 31, 2020.