Sony and Nintendo may be suffering financial hardship at the moment, but not everyone in the industry is feeling the pinch.
With shares at their highest point since 2008, a number of Electronic Arts’ executives have decided to seize the opportunity to sell their stake in the company and enjoy a hefty payout in return.
Chief Operating Officer Peter Moore made the biggest killing, selling around half of his shares and netting nearly $3.5 million dollars in return. Meanwhile, Senior Vice President Stephen Bene sold all of his shares, bringing in an estimated $260,000.
EA Games Executive Patrick Soderlund also sold all of his stock holdings, giving him a cool $1.5m, approximately.
The sales come shortly after the publisher released his annual full-year financial report. While overall sales have slowed down year-on-year, performance remained better than previously expected, while the company expects an increase in both revenue and net income for the current financial year. It’s likely that the success of Respawn’s excellent mech-based shooter Titanfall has more than a little to do with the better-than-expected results - a recent announcement revealed that the game has sold nearly one million copies in North America alone in the three months since release.
Dale Morgan
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