Sat, May 11, 2013 | 14:10 BST
EA Sports EVP Andrew Wilson unloads all shares in the firm for $687,000
EA Sports executive vice president Andrew Wilson has sold all his shares in Electronic Arts, according to a Form 4 filed with the SEC yesterday.
Wilson owned 32,085 shares in Electronic Arts, and at the time of selling, each share was worth $21.42. This made him around $687,260, and now Wilson is the only EA executive without current holdings in the company, according to Gamespot.
A report on Joystiq notes another Form 4 filed yesterday by EA senior vice president and General Counsel Stephen Bene.
Bene purchased 25,000 shares from EA yesterday at $16.06 each for $401,500. While that price was below the current market value, for company stick, such an deal is normal.
Many companies allow employees to purchase a select amount of shares for a set price for a set amount of time as an incentive to invest in the company. Once purchased, the employee can keep the shares or sell immediately.
After Bene purchased the stock with his employee discount, he then unloaded those shares for $22.40 each, making $158,500 off the sale. Bene still holds 6,700 shares in EA.
EA shares rose this week to a 52-week high of $20.84 on Tuesday, compared to the previous 52-week high of $19.51 and shares are up 26% YTD.
EA reported its Q4 and FY13 earnings earlier this week, and as of the closing bell at NASDAQ yesterday,share prices stood at $22.48, up 3.88% over the earlier high.