A few weeks before yesterday’s announcement that Unity would charge developers of games on its engine a commission based on the number of installations, the company’s management sold part of its shares.
According to the publication, Unity CEO John Riccitiello sold 2,000 shares of the company’s stock on September 6. Yahoo Finance. This is consistent with his previous strategy: Last year he sold 50,000 shares and bought none. Some board members have also sold securities in recent weeks: Shlomo Dovrat sold 68 thousand shares for $2.5 million on August 30, and development president Tomer Bar-Zeev sold 37.5 thousand shares for $1.4 million on September 1 -Dollar.
John Riccitello has led Unity Technologies since 2014. Previously, he was a member of the executive board of Electronic Arts (EA) twice: from 1997 to 2004 and then from 2007 to 2013. In the second phase, EA launched the Origin platform and the Project Ten Dollar initiative and poured millions of dollars into Star Wars: The Old Republic to compete with World of Warcraft. His career at the company ended with his resignation as he failed to sufficiently increase EA’s stock.
And already as CEO of Unity, Riccitello last year allowed himself to make unacceptable statements about some game developers, for which he later had to apologize. In June 2022 and January 2023, Unity laid off 200 and 300 employees, respectively.