Sec Form 3 Filing - BULATAO BRIAN @ Activision Blizzard, Inc. - 2021-03-29

FORM 3 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person BULATAO BRIAN 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 Administrative Officer (Last) (First) (Middle) C/O ACTIVISION BLIZZARD, INC., 3100 OCEAN PARK BOULEVARD 3. Date of Earliest Transaction (MM/DD/YY) 03/29/2021 (Street) SANTA MONICA, CA90405 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 59,460 ( 1 ) ( 2 ) ( 3 ) ( 4 ) ( 5 ) 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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 of Derivative Security: 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 Common Stock, par value $0.000001 per share $ 92.5 ( 6 ) 03/09/2031 Performance Stock Options 47,240 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other BULATAO BRIAN C/O ACTIVISION BLIZZARD, INC. 3100 OCEAN PARK BOULEVARD SANTA MONICA, CA90405 Chief Administrative Officer Signatures /s/ Brian Bulatao 04/08/2021 Signature of Reporting Person Date

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.

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* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

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