Activision Blizzard Inc’s Chief Executive Officer Bobby Kotick is preparing to walk away with at least $390 million off Microsoft’s purchase of the video game developer.
Kotick stands to receive the payday after clinching a deal to sell Activision to Microsoft Corp for $68.7 billion.
Regulatory filings show that the majority will come from the 3.95 million Activision shares Kotick owns.
Reuters reports that Kotick plans to step down once the deal with Microsoft closes.
The deal is expected to close by June 2023.
Kotick has led Activision since 1991 and turned it into one of the world’s biggest videogame giants.
Kotick told CNBC that the company had “worked through” allegations of sexual harassment and discrimination that led to more than 20 employees being fired and 20 more individuals facing other forms of disciplinary action last year.
In October, in light of the sexual harassment and discrimination charges at the company, Kotick dropped his salary to $62,500, the minimum allowed under California law and stopped receiving any bonuses or equities, vowing to improve the company culture.