Riccitiello snaps up $1m of EA stock

CEO of Electronic Arts John Riccitiello purchased almost $1 million of the company’s stock on Tuesday – a day after the firm announced it had extended its bid for Take Two.

In total, Riccitiello bought $967,000 in stock, or 20,000 shares, at a per-share average of $48.37.

The transaction marks Riccitiello’s second purchase since being named EA chief in April 2007.

According to filings, he now owns 47,294 shares and approximately 75,000 exercisable options.

"John believes that senior executives should be invested in the company," a company spokesman told Barrons.