SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
ZERZA ARMIN
(Last) (First) (Middle)
C/O ACTIVISION BLIZZARD, INC.
3100 OCEAN PARK BOULEVARD
(Street)
SANTA MONICA CA 90405
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Activision Blizzard, Inc. [ ATVI ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Chief Financial Officer
3. Date of Earliest Transaction (Month/Day/Year)
05/06/2021
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, par value $0.000001 per share 05/06/2021 A 25,798(1) A $0 127,357 D
Common Stock, par value $0.000001 per share 05/06/2021 A 38,697(2) A $0 166,054 D
Common Stock, par value $0.000001 per share 05/06/2021 A 10,749(3) A $0 176,803(4) D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Options $93.03 05/06/2021 A 123,853 (5) 05/06/2031 Common Stock, par value $0.000001 per share 123,853 $0 123,853 D
Explanation of Responses:
1. This grant was for 25,798 performance-vesting restricted stock units, each representing the right to receive one share of the Company's common stock. The number reported assumes target performance; maximum performance would result in the release of 32,248 shares of the Company's common stock. These restricted stock units will vest in two equal tranches each of March 31, 2024 and March 31, 2025, in each case measured by reference to the Company's total shareholder return.
2. This grant was for 38,697 performance-vesting restricted stock units, each representing the right to receive one share of the Company's common stock. The number reported assumes target performance; maximum performance would result in the release of 48,371 shares of the Company's common stock. These restricted stock units will vest in two equal tranches on each of March 31, 2024 and March 31, 2025, one-half based upon the level of performance measured by reference to the Company's operating income for the period from 2021 to 2023 and the second half based upon the level of performance measured by reference to the Company's operating income for the period from 2022 to 2024.
3. This grant was for 10,749 restricted stock units, each representing the right to receive one share of the Company's common stock. The restricted stock units will vest in three equal tranches on each of March 31, 2022, 2023 and 2024.
4. In addition, as permitted by his award agreements, the Compensation Committee changed the performance criteria underlying 24,744 performance-vesting restricted share units to be to the Company's operating income, rather than Blizzard Entertainment's. Following the transactions reported on this Form 4, Mr. Zerza held 14,365 shares of the Company's common stock, 136,116 performance-vesting restricted stock units, each representing the right to receive one share of the Company's common stock, and 26,322 restricted share units, each representing the right to receive one share of the Company's common stock.
5. These options will vest in two equal tranches each of March 31, 2024 and March 31, 2025, in each case, subject to Mr. Zerza's continued employment trough each applicable vesting period.
Remarks:
/s/ Armin Zerza 05/10/2021
** Signature of Reporting Person Date
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