Having the scumbag of a CEO in the headline may have been a mistake. Riccitiello sold the least shares in the recent transaction history of the company. Also, I don’t know where you get your "retaining over 3000000 shares’ from. The source says Riccitiello sold all his shares in his possession.
The article mentions two others:
Tomer Bar-Zeev who sold 37.5k shares on 1st September, for around $1.4m. Shlomo Dovrat, meanwhile, sold 68k shares on 30th August for around $2.5m.
Bar-Zeev sold 37500 shares of ~1300000 owned on automated sell. That’s a factor of ten and a fair bit away from 2k sold from 3 mil, but that might be normal. It was automated, after all.
Dovrat’s transaction is mostly the same, roughly double the shares sold and roughly double the shares owned. However, it was not automated.
I believe the article mentioned them because they sold the most, but they clearly weren’t taking the amount retained into account. The third most sold, however, by Robynne Sisco was a sell of 25768, retaining 14700 (sold ~64%).
There are a fair number of other sells, but if the Bar-Zeev and Dovrat sells don’t look suspicious, nothing else will stand out.
What does seem a little odd- and I have no idea if this is at all unusual- is that in the last twelve months, more shares have been bought than sold (net shares almost 10,000,000), and in the last 3 months more shares have been sold than bought (net shares almost 3,500,000). In the last 3 months, the number of insider traders is a little over 1/3 of the amount of insider trades over the last 12 months (under the assumption it should be about 1/4). All of the insider buys seem to be the options granted for working for Unity. I assume it isn’t too odd for the board of directors to sell and never buy, but they have increased selling a fair bit in the last 3 months, and it seems specifically the last two weeks.
More confusing accounting that I’ve never learned, and probably never will.
At first I thought it was because of direct/indirect ownership. But what is the point of “5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)” being 3mil with no transaction, but the 2000 stock transaction showing they owned none? I see nothing on the form or in the definition showing that direct or indirect ownership show be reported differently. They are all owned by the ‘reporting person’. But clearly this is all me just not being able to read how they filled it out.
I agree $80k is nothing to $100mil, I do believe that if they have 3mil of securities, then it doesn’t matter, no matter how high or low the securities are worth. I disagree with the idea that automation makes it not suspicious, though. If the stocks were all automatically sold off, then the company devalues itself afterwards, it has the same intent and outcome as any other insider trading.
Ok, so the report is on the person (CEO in this case). Only directors and certain executive levels are required to report.
Table I shows ‘non-derivative securities’ (regular stock). The CEO holds in their own name 3 million+ shares. No transaction was reported for those, but they have to be listed.
The CEO’s spouse aquired 2000 shares at a cost of $1.425 each. After this transaction, they had 2000 shares total (column 5).
They then sold those shares for $40 each. After, they weren’t holding any stock, so column 5 shows 0.
The CEO financially benefits from this, so the transactions are listed on their form, as (I) for indirect. If the spouse also had a position within Unity which required reporting this would be listed on their own SEC form as well.
Mad Max was decent, but it chose setting over gameplay with how insanely empty it is, and while car combat is fun, driving without the combat really isn't and there's a huge amount of it to make the big empty desert feel like a big empty desert.
Still, there are a few things getting in the way of the plaintiffs being successful here. For starters, games and in-game content are often cancelled - an unfortunate reality of the industry. Furthermore, even if refunds weren't granted, Aspyr did offer affected fans a copy of KOTOR 2 on Steam - where the mod can be played for free - or another Star Wars game altogether.
How is this relevant in any way?
I don't think they're legally entitled to a refund for buying a game with content that didn't exist, but neither of those are even sort of substitutes for the content or a refund.
I don’t see how it being software makes it different than any other good.
If I advertised a car with GPS and promised next year it will be updated with live traffic data. Then I just sold a bunch of cars and decided, nah thats expensive, I am just going to leave it as is. You better believe lawsuits would be headed my way, I don’t see how this is much different. In both examples you can still use the product, it’s just not the product that was ultimately promised. Maybe I would have bought a different brand of car that already offers live traffic on their GPS, maybe I was willing to spend more on the game/car because the feature that was promised, never came.
Because they knew it didn't exist when they bought it.
You would win your example lawsuit, too, unless you had a contract explicitly promising future services. Talking about future plans when they're clearly future plans isn't legally false advertising or any kind of legal obligation.
I have no problem with competition, but don’t force me to use your inferior product. If any of the major companies developed an actual competitor with the Steam launcher (in terms of features, not just a lousy storefront), it would likely get some use. If they somehow made it better than Steam, plenty of people would likely jump ship.
Epic is just a failure of a launcher. Nobody uses it over Steam by choice, because it’s lacking in nearly every way. While I’m not big on exclusives, if the launcher was a reasonable Steam alternative, they wouldn’t bother me nearly as much. As things stand, I’m firmly in the “fuck Epic” camp.
I can’t wait to try out part 3 for 2 hours before deciding this still isn’t for me.
I want a good and immersive Jedi game so bad. These games just feel like you’re in an amusement park that’s channelling the game you want but not really trying to deliver it, it’s just a vehicle to get to the next bouncy mushroom or conveniently placed wall jump.
It might now win any new developers but people who work many years to build things like custom simulations have no way of switching to other platforms.
It depends on a lot of factors though. Creating your own engine is by far not an easy task. The more feature rich it shall become, the more work it will need. Especially if it should have high 3D graphics quality while also running performant. That alone can cost a good team at least 2 to 5 years.
Switching engines also depends on how portable your work from the old engine is with regard to the new engine. It may not be impossible but can still be a lot of work. The earlier that decision is made, the better.
If the devs are determined enough they can surely do a switch. But they might sweat a lot. And especially for smaller studios, or studios without sufficient funding, this quickly becomes a matter of financial survival.
So it’s not impossible, yes. But don’t take that lightly as well.
Switching engines also depends on how portable your work from the old engine is with regard to the new engine. It may not be impossible but can still be a lot of work. The earlier that decision is made, the better.
Not to mention I’m guessing a good amount of indie devs are not abstracting every detail of interacting with the engine from the getgo in the chance they want to swap engines down the line. I’m sure some more experienced studios due for that just incase measure or to make migrating past breaking changes a bit easier when they crop up. But generally speaking I can’t imagine that’s a common tactic. But even if it did your still going to have to recreate every new implementation for your interfaces and there are bound to be differences here that are gonna take some time.
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