Form 4: Take-Two Interactive CEO Strauss Zelnick Reports Share Transactions

Strauss Zelnick, CEO of Take-Two Interactive, reports transactions involving common stock and restricted units, including vesting, sales, forfeitures, and distributions.

Summary

• Strauss Zelnick, Chairman and CEO of Take-Two Interactive Software, Inc., filed a Form 4 detailing changes in beneficial ownership.
• The filing reports the vesting of 178,137 restricted units previously granted to ZelnickMedia Corporation on April 13, 2022.
• ZelnickMedia sold shares of common stock, including to cover tax obligations, under a Rule 10b5-1 trading plan adopted on December 8, 2023.
• 18,876 performance-based restricted units were forfeited due to not meeting certain performance conditions.
• ZelnickMedia distributed 87,286 shares of common stock to its employees, including 35,785 shares to Mr. Zelnick.
• Mr. Zelnick contributed the 35,785 shares to the Zelnick/Belzberg Living Trust.
• The filing also details shares held by various trusts and entities associated with Mr. Zelnick, including Zelnick Media Corporation, Zelnick/Belzberg Living Trust, Wendy Jay Belzberg 2012 Family Trust and ZMC Advisors, L.P.
• Mr. Zelnick disclaims beneficial ownership of securities held by ZelnickMedia, the Zelnick/Belzberg Living Trust, Wendy Jay Belzberg 2012 Family Trust and ZMC Advisors, L.P. except to the extent of his pecuniary interest therein.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing stock transactions, with no inherent positive or negative sentiment. It's a factual report of events.

Negatives

• 18,876 performance-based restricted units were forfeited due to the failure to meet certain performance conditions.

Industry Context

This filing is a routine disclosure of insider transactions and provides insight into the compensation structure and equity holdings of Take-Two's CEO.

Key Dates