Unity Executives Unloaded Shares Prior to Unfair Dev Fees News
Unity's Controversial New Fee Sparks Backlash and Stock Sell-Off
Yesterday, Unity, the renowned cross-platform game engine company, made headlines with the introduction of a contentious new Runtime Fee. This fee would require developers to pay per installation for games developed using the Unity engine once they exceed a certain number of installations. This move was met with widespread criticism, leading to a significant drop in the company's stock prices soon after the announcement.
Unity Executives Sell Off Shares Amid Controversy
Adding to the controversy, it's been revealed that several Unity executives unloaded thousands of the company's shares in recent weeks. This includes Unity CEO John Riccitiello, one of gaming's highest-paid leaders, who sold a hefty 2,000 Unity shares a week before the company's controversial announcement. This year alone, Riccitiello has sold a total of 50,610 shares and hasn't purchased any, following a worrying trend.
Unity's Market Activity Raises Eyebrows
Riccitiello isn't the only executive at Unity who offloaded a substantial amount of stock ahead of the Runtime Fee announcement. Market activity data on the Nasdaq indicates that several other Unity board members sold large amounts of shares in the run-up to the company's "plan pricing and packaging updates" announcement. Notably, Tomer Bar-Zeev, Unity's president of growth, sold 37,500 shares, netting roughly $1,406,250, while board director Shlomo Dovrat sold 68,454 shares for around $2,576,608.
Developers Declare Intention to Quit Unity
In the wake of this controversy, numerous developers have expressed their plans to cease using Unity because of these changes. They cite the unpredictability and ambiguity of the company's intention to impose a per-installation fee after a certain number of sales. For instance, Massive Monster, the developer behind Cult of the Lamb, has even announced its plan to stop selling that game starting from January 1, when the new fee structure is expected to take effect.
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