Santa Monica video game publisher Activision Blizzard Inc. said in a regulatory filing today that Vivendi, its former French owner, may now sell its remaining $856 million stake in the company.

Vivendi is now able to sell its remaining 41.5 million shares following the expiration of a “lockup period” that was part of an October 2013 deal in which Activision bought back approximately 429 million shares from Vivendi.

The deal mandated that Vivendi wait at least 15 months before selling off its remaining shares. Shares of Activision, which closed Thursday at $21.82, fell more than 8 percent in after-hours trading following the disclosure of the impending offering.

Earlier Thursday, the company said non-GAAP earnings for the quarter ended Dec. 31 had fallen to $2.21 billion from $2.27 billion, a drop of 2.6 percent. However, its profit of 94 cents a share for the quarter beat analysts’ estimates of 88 cents a share, according to Bloomberg.

Correction: An earlier version of this story said that Vivendi plans to sell the shares.