LogFAQs > #976153702

BlueCrystalTear posted...

What the fuck took them this long? It's way past the "too little, too late" point.

Just furthers the idea of unity against Unity. They need to fire a few suits, including the CEO, and get rid of this policy altogether, and even then they wouldn't be able to save face. Keeping it as is would bankrupt devs, as highlighted in GTM's post above, and that knowledge means nobody will use their engine any longer.

I repeat: The CEO knew this would generate a lot of negative press covfefe and sold his holdings in the company. The fact that he still went through it should cost him his job.

I did some googling.

https://www.marketbeat.com/instant-alerts/nyse-u-insider-buying-and-selling-2023-09-08/

Unity Software Inc. (NYSE:U - Get Free Report) CEO John S. Riccitiello sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $40.00, for a total value of $80,000.00. Following the completion of the sale, the chief executive officer now owns 3,211,394 shares of the company's stock, valued at $128,455,760. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

https://www.sec.gov/Archives/edgar/data/1193857/000181080623000163/xslF345X05/wf-form4_169420518678431.xml

https://finance.yahoo.com/news/unity-software-incs-president-ceo-050515124.html?guccounter=1

On September 6, 2023, John Riccitiello, President and CEO of Unity Software Inc (NYSE:U), sold 2,000 shares of the company. This move is part of a larger trend for the insider, who over the past year has sold a total of 50,610 shares and purchased none.

So he sold 80k's worth, but the the 3.2m shares he still holds would have gone down by over $10m in value.

Not to defend him of anything, but I just don't think that particular accusation sticks.
I didn't do much googling on the other two execs who sold more earlier though.