Unity bosses sold stock days before development fees announcement::Unity executives sold thousands of shares in the weeks leading up to last night’s hugely controversial announcement it …
If you’re ever worried that these corporate assholes are never punished for their blatant shady behavior, don’t worry. They have to deal with raised eyebrows which we all know can be super embarrassing.
I dunno, if a government cares enough to look into this then the corpos might get some VERY sharp slaps on their wrists.
Installed Godot yesterday and it’s starting to grow on me, I like it. Looking forward to a huge movement of studios over to Godot, which will hopefully speed up the development of Godot through further support. Is there any reliable source of data about which game engines are popular at the moment? I want to see that sweet sweet decline in Unity user base over to Godot.
I found steamdb.info. According to them Godot seems to be growing steadily.
I really love Godot, it’s great. I actually switched to it before I even knew what open source was simply because it’s way nicer to use.
What types of games do you develop? I just started gamedev as a hobbyist earlier this year, so I’m by no means an expert in the field. I’m not into 2D games, I very much prefer 3D. What scares me is that I don’t see that many well made 3D games in Godot out there. It’s mostly 2D. Nonetheless, the engine seems to be capable of doing about the same of what Unity offers. I hope I’ll be able to soon reach the same level of proficiency in Godot and support the growth of 3D community.
Now I am confused what a game engine even does? I thought it was a type of rendering software, shouldn’t all of them do 3D?
There is a lot more to a game engine than just graphics, although that’s an important piece of the puzzle.
Input, sound, physics, networking, collision detection, path finding, scripting…etc are all important parts that are handled by the engine.
Godot 4 has brought a lot of improvements to 3D, it’s definitely a good engine for 3D games now. I also prefer 3D btw.
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Amazing, we need more competition on the market. It’s never good to let big corporations run a monopoly.
How’s that even legal.
Usually people at a company are not allowed to sell stock except during special windows. For people at the very top it’s restricted even further where they need to essentially plan to buy/sell stock well in advance. Essentially there is a huge delay to any stock decisions. So these sell offs were likely decided far in advance and once locked in cannot be changed.
For more details read https://www.investopedia.com/terms/r/rule-10b5-1.asp
the sale might not have been shady if scheduled, but the timing of the announcement which they have complete control over IS shady as fuck.
So basically it can be “legit” if they schedule the sale for a year out and the announcement for a year and a day…
It’ll be my ignorance, but how are you allowed to own stock in the company you’re on the C-level of? Wouldn’t your direct control of the company, and the ability to buy and sell stock, be seen as insider trading?
Many company boards (of which CEOs sit at) have requirements where they must vest a minimum dollar amount into acquiring company shares. The purpose of this is to ensure they have an interest in the success of the stock and thereby the success of the company.
These same companies will then additionally have blackout periods typically 30 days before the announcement of quarterly earnings where employees are restricted from selling shares.
Not sure what unity’s board rules are but if they are a public company it should be in their investors materials, annual reports, etc
Hard to see selling stock, as an executive, as confidence inspiring.
All execs sell their own stock all the time. You’re just aware of it today for one company so it seems like an issue.
Riccitiello has 3 million shares. He sold 2k (.06%) recently and 50k (1.5%) YTD.
You should also be made aware that when you are identified as a director of a company, trades like this are generally automatically scheduled due to MNPI regulations.
https://www.gurufocus.com/stock/U/insider
Tim Apple sells about a million shares of AAPL every year, while holding roughly 3M continuously. Likely all pre-planned on a schedule.
It’s common for executives compensation to be partly in stock or stock options, so it’s not uncommon for them to execute and sell.
If they own shares, then they want the company to succeed. A better question is “why are they allowed to sell those shares until they quit?” And the answer to that question is that everyone with enough power to change this also enjoys the current system.
