Grant Michael Dixton - Dec 19, 2022 Form 4 Insider Report for Activision Blizzard, Inc. (ATVI)

Signature
/s/ Grant M. Dixton
Stock symbol
ATVI
Transactions as of
Dec 19, 2022
Transactions value $
-$702,483
Form type
4
Date filed
12/21/2022, 08:16 PM
Previous filing
Jul 1, 2022
Next filing
Mar 8, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ATVI Common Stock, par value $0.000001 per share Award $0 +21.1K +19.49% $0.00 129K Dec 19, 2022 Direct F1
transaction ATVI Common Stock, par value $0.000001 per share Tax liability -$234K -3.08K -2.39% $75.88 126K Dec 20, 2022 Direct F2
transaction ATVI Common Stock, par value $0.000001 per share Tax liability -$234K -3.09K -2.45% $75.89 123K Dec 21, 2022 Direct F3, F4
transaction ATVI Common Stock, par value $0.000001 per share Tax liability -$234K -3.09K -2.51% $75.89 120K Dec 21, 2022 Direct F3, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Grant to reporting person of restricted stock units, each representing the right to receive one share of Issuer's common stock, scheduled to vest in equal installments on each of December 20, 2022, December 19, 2024, and December 19, 2025.
F2 Pursuant to terms of reporting person's restricted stock unit award agreement, withholding by Issuer of shares otherwise deliverable in respect of vesting on transaction date of restricted stock units held by reporting person, in order to satisfy resulting tax withholding obligations.
F3 Pursuant to terms of reporting person's performance-vesting restricted stock unit award agreement, withholding by Issuer of shares otherwise deliverable in respect of accelerated vesting on transaction date of performance-vesting restricted stock units held by reporting person initially scheduled to vest, if at all, in 2023, in order to satisfy resulting tax withholding obligations. Reporting person has signed an Acceleration and Clawback Agreement providing that accelerated performance-vesting restricted stock units are subject to certain repayment and true-up conditions.
F4 For each performance-vesting restricted stock unit award for which vesting was accelerated, the number of accelerated units was a certain percentage of such award's original target amount previously disclosed by reporting person, calculated based on Issuer's Compensation Committee's approval for acceleration purposes of an assumed performance achievement level, as estimated to be applicable to the specific award criteria of each such award; with additional units under such award previously reported by reporting person remaining eligible to vest based on Issuer's Compensation Committee's ultimate determination in 2023 of performance achievement level relative to the same performance metrics set forth in the initial grant.
F5 Following the transactions reported on this Form 4, reporting person held (a) 16,424 shares of Issuer's common stock, (b) 38,936 restricted stock units, each representing the right to receive one share of the Company's common stock, and (c) 64,456 performance-vesting restricted stock units, each representing the right to receive one share of Issuer's common stock (assumes, as previously disclosed, target performance for each performance-vesting restricted stock unit grant; actual number of aggregate shares earned will depend on actual performance and will range from 0 to 83,683 shares of Issuer's common stock).