Unity CEO Quickly Sells Shares Prior to Controversial Fee Announcement

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#6167542
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I saw mention in another thread that this isnt what it looks like, From memory ... The number of shares sold was tiny compared to his overall portfolio, 0.06% I believe was written. The monetary value is not very large. It was stated this is most likely an automated sell, to get rid of new shares he gets given periodically. ie the sell date is pre-determined and has little value. But what do I know 🙂 edit: Found the comment https://forums.guru3d.com/threads/unity-will-start-charging-0-20-per-install.449363/page-3#post-6167369
#6167543
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What is that strange smell of sulphur.
#6167553
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how to kill a company: make a dumb announcement that will make your clients riot, breaking agreements with your own clients, drown your lawyers with class-actions and lawsuit, tell you some time later are open to make small "fixes" revealing you have no real idea on what you were doing, having multiple other companies ready to greetings new costumers 🙂
#6167554
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unreal engine, cryengine and others coming with c# support and unity import project and transition in 3, 2, 1..
#6167562
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Not going to get into what a shit FU this new plan is to all Unity devs... But regarding insider trading in general... I'm not any sort of financial export - how does claim of "insider trading" apply here? Surely most of the top execs in most companies have a lot of shares in the same company and can sell those shares any time they like, no? I mean just because they know that some future plan or problem might decrease future value of shares, shouldn't stop them selling them now? Or is it that there is some legal thing where if they know some future plan will tank shares they are somehow legally bound to tell shareholders??
#6167580
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Most upper management people are partially paid in stock options and the like, so him selling of small amounts of stock spread over the year isn't necessarily connected to insider trading. The other two guys selling off large amounts of stock just before the announcement was made, that part sounds more sketchy though. Anyway, trying to squeeze developers in the way that this new scheme proposes to do, is one sure fire way of having your company's primary source of income dry up pretty quick. Didn't these people think through the consequences of their proposal? Or were they so arrogant to believe that this would just be accepted by everyone?
#6167583
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Crazy Joe:

Most upper management people are partially paid in stock options and the like, so him selling of small amounts of stock spread over the year isn't necessarily connected to insider trading. The other two guys selling off large amounts of stock just before the announcement was made, that part sounds more sketchy though. Anyway, trying to squeeze developers in the way that this new scheme proposes to do, is one sure fire way of having your company's primary source of income dry up pretty quick. Didn't these people think through the consequences of their proposal? Or were they so arrogant to believe that this would just be accepted by everyone?
I think its what happens when the least "in touch" people at the top dont seek good enough advice and then panic.
#6167593
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geogan:

Not going to get into what a crap FU this new plan is to all Unity devs... But regarding insider trading in general... I'm not any sort of financial export - how does claim of "insider trading" apply here? Surely most of the top execs in most companies have a lot of shares in the same company and can sell those shares any time they like, no? I mean just because they know that some future plan or problem might decrease future value of shares, shouldn't stop them selling them now? Or is it that there is some legal thing where if they know some future plan will tank shares they are somehow legally bound to tell shareholders??
Insider trading is the illegal practice of trading on the stock exchange to one's own advantage through having access to confidential information. Kinda what you are guessing at. However, like the first comment says it would depend if this is actually a significant portion of his holdings or just a regular automated sell.
#6167611
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in my workplace we have been moving the necessary projects from Unity to Unreal in the last 2 year (Mostly corporative VR stuff), and 2 days ago my boss ask me to stop doing anything in Unity and throttle the transition (it is almost complete anyway) ¡, i just hope Unity to get their things together, i really like that engine.
#6167619
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I'd say this kinda proves they knew it was a bad decision. Why else would they sell shares right before such a change? I also don't really understand the point of having an installation fee, or, how they expect to track that. Seems like a rather easy thing to bypass.
#6167722
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now angry mobs will not review bomb a game but install/ uninstall bomb a game for days by the hundreds or thousands ......
#6167858
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What hurts the most is the fact that Unity is a really good engine. My piece of advice to the managament. Sit down at the table with the devs and figure out the best monetization for both parties. Let bygones be bygones...
#6167991
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geogan:

Not going to get into what a crap FU this new plan is to all Unity devs... But regarding insider trading in general... I'm not any sort of financial export - how does claim of "insider trading" apply here? Surely most of the top execs in most companies have a lot of shares in the same company and can sell those shares any time they like, no? I mean just because they know that some future plan or problem might decrease future value of shares, shouldn't stop them selling them now? Or is it that there is some legal thing where if they know some future plan will tank shares they are somehow legally bound to tell shareholders??
In most country (those with big financial place or depending from it) it is not legal to use internal info before it is public, for own use during an financial operation... It's a fraud. Also a lot of dev have started to change the engine (sometime life isn't easy lol) as they don't want to pay more to help some *** 🙂 I also hope the juridic part will not trash everything to earn some $ on a wounded animal... We will see.
#6168040
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Unity in 2022: make some cool looking demo Unity in 2023: we will burn our company into the ground LOL
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#6168048
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SeriousSkeletor:

What hurts the most is the fact that Unity is a really good engine
no it isn't.
#6168249
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Maybe I am crazy, but can the shareholders sue this CEO for acting against the interests of the company? I don't remember the technical name of that, but it sure sounds like this CEO wants the company to fail.