Activision Blizzard, Inc.
ACTIVISION INC /NY (Form: 4, Received: 12/14/2007 21:34:58)
FORM 4
[ ] 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 OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2008
Estimated average burden
hours per response...
0.5
                      
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(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

KELLY BRIAN G
2. Issuer Name and Ticker or Trading Symbol

ACTIVISION INC /NY [ ATVI ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Co-Chairman
(Last)          (First)          (Middle)

C/O ACTIVISION, INC., 3100 OCEAN PARK BOULEVARD
3. Date of Earliest Transaction (MM/DD/YYYY)

12/14/2007
(Street)

SANTA MONICA, CA 90405
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
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. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 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 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
Employee Stock Options   $13.08   (1) 12/14/2007           339687      (2) 6/20/2015   Common Stock, par value $0.0001 per share   339687   $0   (1) 0   D  
 
Employee Stock Options   $13.328   (1) 12/14/2007        339687         (3) 6/20/2015   Common Stock, par value $0.0001 per share   339687   $0   (1) 339687   D  
 
Employee Stock Options   $6.9025   (1) 12/14/2007           351648      (4) 4/8/2012   Common Stock, par value $0.0001 per share   351648   $0   (1) 0   D  
 
Employee Stock Options   $7.87   (1) 12/14/2007        351648         (3) 4/18/2012   Common Stock, par value $0.0001 per share   351648   $0   (1) 351648   D  
 
Employee Stock Options   $5.735   (1) 12/14/2007           1400000      (5) 7/22/2012   Common Stock, par value $0.0001 per share   1400000   $0   (1) 0   D  
 
Employee Stock Options   $6.688   (1) 12/14/2007        1400000         (3) 7/22/2012   Common Stock, par value $0.0001 per share   1400000   $0   (1) 1400000   D  
 
Employee Stock Options   $3.4792   (1) 12/14/2007           175081      (6) 4/4/2011   Common Stock, par value $0.0001 per share   175081   $0   (1) 0   D  
 
Employee Stock Options   $6.542   (1) 12/14/2007        175081         (3) 4/4/2011   Common Stock, par value $0.0001 per share   175081   $0   (1) 175081   D  
 
Employee Stock Options   $3.4792   (1) 12/14/2007           700309      (6) 4/4/2011   Common Stock, par value $0.0001 per share   700309   $0   (1) 0   D  
 
Employee Stock Options   $6.542   (1) 12/14/2007        700309         (3) 4/4/2011   Common Stock, par value $0.0001 per share   700309   $0   (1) 700309   D  
 
Employee Stock Options   $1.75   (1) 12/14/2007           3626460      (7) 3/23/2009   Common Stock, par value $0.0001 per share   3626460   $0   (1) 0   D  
 
Employee Stock Options   $2.063   (1) 12/14/2007        3626460         (3) 3/23/2009   Common Stock, par value $0.0001 per share   3626460   $0   (1) 3626460   D  
 
Employee Stock Options   $4.1667   (1) 12/14/2007           178201      (8) 10/1/2011   Common Stock, par value $0.0001 per share   178201   $0   (1) 0   D  
 
Employee Stock Options   $5.29   (1) 12/14/2007        178201         (3) 10/1/2011   Common Stock, par value $0.0001 per share   178201   $0   (1) 178201   D  
 
Employee Stock Options   $5.29   (1) 12/14/2007           141142      (3) 10/1/2011   Common Stock, par value $0.0001 per share   141142   $0   (1) 37059   D  
 

Explanation of Responses:
( 1)  The transactions reported herein as acquisitions and dispositions reflect adjustments to exercise prices of options previously issued to the reporting person following the redetermination of measurement dates and exercise prices previously reported by Activision in its Form 10-K/A for the fiscal year ended March 31, 2005.
( 2)  The option, which was granted on June 20, 2005, was exercisable in full as of June 20, 2007.
( 3)  As the original option (reported herein as a cancelled option) was exercisable in full on the date on which it was cancelled, the option as amended (reported herein as an option issued in replacement thereof) was exercisable in full on the date of amendment (reported herein as the date of grant).
( 4)  The option, which was granted on April 8, 2002, was exercisable in full as of the date of grant.
( 5)  The option, which was granted on July 22, 2002, was exercisable in full as of June 22, 2006.
( 6)  The option, which was granted on April 4, 2001, was exercisable in full as of May 3, 2001.
( 7)  The option, which was granted on March 23, 1999, was exercisable in full as of April 18, 2000.
( 8)  The option, which was granted on October 1, 2001, was exercisable in full as of the date of grant.

Remarks:
***George L. Rose was granted a power of attorney to sign all Forms 4 and 5 on behalf of the reporting person

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
KELLY BRIAN G
C/O ACTIVISION, INC.
3100 OCEAN PARK BOULEVARD
SANTA MONICA, CA 90405
X
Co-Chairman

Signatures
George L. Rose*** 12/14/2007
** 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 4(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 control number.