SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL OMB Number: 3235-0104 Estimated average burden hours per response: 0.5

1. Name and Address of Reporting Person* BULATAO BRIAN (Last) (First) (Middle) C/O ACTIVISION BLIZZARD, INC. 3100 OCEAN PARK BOULEVARD (Street) SANTA MONICA CA 90405 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 03/29/2021	3. Issuer Name and Ticker or Trading Symbol Activision Blizzard, Inc. [ ATVI ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Chief Administrative Officer	5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock, par value $0.000001 per share	59,460(1)(2)(3)(4)(5)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Common Stock, par value $0.000001 per share	(6)	03/09/2031	Performance Stock Options	47,240	92.5	D

Explanation of Responses:

1. These shares represent performance-vesting restricted stock units granted to Mr. Bulatao on March 9, 2021, each representing the right to receive one shares of the Company's common stock.

2. 10,811 of these shares will vest in four tranches over a three-year period on each of March 30, 2022, March 30, 2023 and March 30, 2024. These performance-vesting restricted stock units will vest based on the Company's TSR in accordance with Mr. Bulatao's employment agreement with the Company.

3. 10,811 shares will vest in three equal tranches on each of March 30, 2022, March 30, 2023 and March 30, 2024, in each case based upon the level of achievement by reference to the Company's earnings per share for the prior year ending 2021, 2022 and 2023, as set forth in the Company's annual operating plan for that year. The number reported assumes target performance; maximum performance would result in the release of 21,622 shares of the Company's common stock.

4. 27,027 shares will vest in three equal tranches on each of March 30, 2022, March 30, 2023 and March 30, 2024, in each case based upon the level of achievement by reference to the Company's annual operating income for the prior year, as set forth in the Company's annual operating plan. The number reported assumes target performance; maximum performance would result in the release of 54,054 shares of the Company's common stock.

5. 10,811 of these shares will vest on March 30, 2024 based upon the level of achievement by reference to the Company's cumulative operating income for 2021-2023. The number reported assumes target performance; maximum performance would result in the release of 13,514 shares of the Company's common stock.

6. One-third of these options will vest on March 30, 2022, if a certain level of the operating income objective for the Company set forth in its annual operating plan for 2021 is achieved; one-third will vest on March 30, 2023, if a certain level of the operating income objective for the Company set forth in its annual operating plan for 2022 is achieved; and one-third will vest on March 30, 2024, if a certain level of the operating income objective for the Company set forth in its annual operating plan for 2023 is achieved.

Remarks:

	/s/ Brian Bulatao	04/08/2021
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.