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the_gmg, w Unity bosses sold stock days before development fees announcement, raising eyebrows

Selling 2000 shares while retaining over 3000000 shares seems to indicate that this is for quarterly tax payments, which are due this week.

I’m not defending any actions of Unity.

The author / headline writer are being disingenuous or just clickbait chasing.

EnderofGames,

The information in the article is from here:

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.

the_gmg,

It is right in the SEC filling which anyone can look up. The 2000 shares sold were by the CEOs wife, which is why they are marked as indirect.

$80k is rich people walking around money when compared to ~$100 million. It was part of an automated selling plan and not suspicious in any way.

There’s an old Peter Lynch quote about many reasons to sell but only one to buy.

EnderofGames,

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.

the_gmg,

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.

conciselyverbose, w Mad Max vs Days Gone, which do you like more?

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.

ILikeBoobies, w Dusk: Unpopular opinion: I'd rather pay Valve 30% and put up with their de facto monopoly than help Epic work towards their own (very obviously desired) monopoly

I just hope Steam can be broken up

Make the workshop and community their own company

conciselyverbose, w Star Wars Fans Launch Class Action Lawsuit Over Cancelled KOTOR 2 DLC

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.

Corkyskog,
@Corkyskog@sh.itjust.works avatar

Why don’t you think their entitled to 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.

conciselyverbose,

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.

Squirrel, w Dusk: Unpopular opinion: I'd rather pay Valve 30% and put up with their de facto monopoly than help Epic work towards their own (very obviously desired) monopoly
@Squirrel@thelemmy.club avatar

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.

MomoTimeToDie, w Dusk: Unpopular opinion: I'd rather pay Valve 30% and put up with their de facto monopoly than help Epic work towards their own (very obviously desired) monopoly

deleted_by_author

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  • SnowdenHeroOfOurTime,

    What planet do you live on exactly?

    MomoTimeToDie,

    deleted_by_author

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  • SnowdenHeroOfOurTime,

    It monopolizes PC games in America and other countries. As even the most casual observer would know. Kind of idiotic to argue against that.

    It’s at the point where younger people think “pc games” is synonymous with “steam games”.

    MomoTimeToDie,

    deleted_by_author

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  • SnowdenHeroOfOurTime,

    In the last 10 years I have bought 95% of my games on steam and that’s far from unusual

    gamer,

    I think he graduated from the Parker Brothers school of economics.

    CuddlyCassowary, w Destiny 2 is “broken” as enemies completely stop fighting

    Why can’t we all just get along?

    vaultdweller013,

    Because Khorn demands blood!

    Bbbbbbbbbbb,

    Blood for the blood god

    loobkoob,

    Blood for the blood god! Skulls for the skull throne! Milk for the Khorne Flakes!

    li10, w Capcom would "gracefully decline" an acquisition offer from Microsoft

    Don’t imagine Microsoft would have too much success trying to poach Japanese companies.

    They’re notoriously “Japan first” in everything they do, but enough money would probably change that.

    Naatan, w Cal Kestis actor confirms Star Wars Jedi 3 during Comic Con panel

    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.

    StarkestMadness, w Cyberpunk 2077's Ukrainian localisation takes the piss out of Russia's war

    Johnny would be proud. 😎

    A10, w Unity May Never Win Back the Developers It Lost in Its Fee Debacle
    @A10@kerala.party avatar

    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.

    nanoUFO,
    @nanoUFO@sh.itjust.works avatar

    It’s not impossible to switch engines on new projects lots of devs have stated this. Devs have switch engines for far less or made their own.

    Zacryon,

    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.

    SmoothIsFast,

    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.

    SchizoDenji, w Capcom would "gracefully decline" an acquisition offer from Microsoft

    Common Capcom W.

    Melonpoly, w Capcom would "gracefully decline" an acquisition offer from Microsoft

    Fuck Microsoft

    scottmeme, w Capcom would "gracefully decline" an acquisition offer from Microsoft
    @scottmeme@sh.itjust.works avatar

    Fuck gracefully, I would publicly say fuck no.

    epicsninja, w AR horror Scrylight will "blur the boundaries of what’s real and what isn't"

    So it’s a horror game that only works in houses with modern appliances.

    vaultdweller013,

    Behold my stuff!

    Pile of old as shit appliances

    smeg,

    Granting a third party full access to all the questionably-secured devices in your home is the real horror

    taladar,

    To an IT person a house full of “smart” devices is already a horror to behold.

    smeg,

    You know what they say, the S in IoT stands for Security!

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