Form 4: Take-Two Interactive Chief Legal Officer Sells Shares Under 10b5-1 Plan

Take-Two Interactive's Chief Legal Officer, Daniel P. Emerson, sold a total of 4,630 shares of common stock in two transactions on November 7th and 8th, 2024.

Summary

• Daniel P. Emerson, Chief Legal Officer of Take-Two Interactive Software, Inc., executed two sales of company stock.
• On November 7, 2024, he sold 2,130 shares at a price of $174 per share.
• On November 8, 2024, he sold an additional 2,500 shares at a price of $179.17 per share.
• These sales were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on December 8, 2023.
• The November 7th sale represents the final sale of common stock under this plan.
• Following these transactions, Mr. Emerson directly owns 150,156 shares of Take-Two Interactive common stock.
• This total includes 834 shares of common stock, 21,962 unvested time-based restricted stock units, and 127,360 unvested performance-based restricted stock units.

Sentiment

Score: 5

Explanation: The document is a routine SEC Form 4 filing detailing stock sales by an executive under a pre-arranged plan. It doesn't indicate any positive or negative sentiment, it is a neutral event.

Risks

• Executive stock sales can sometimes be perceived negatively by the market, potentially impacting investor sentiment.

Industry Context

Executive stock sales are a common occurrence in publicly traded companies, often part of pre-planned strategies for personal financial management. The use of a 10b5-1 plan is a standard practice to avoid accusations of insider trading.

Comparison to Industry Standards

• The use of a 10b5-1 trading plan is a common practice among executives at publicly traded companies, including those in the gaming industry such as Activision Blizzard and Electronic Arts.
• These plans allow executives to sell shares at predetermined times and prices, mitigating the risk of insider trading allegations.
• The volume of shares sold by Mr. Emerson is not unusual for an executive at his level, and the prices are consistent with the market value of TTWO stock at the time of the transactions.

Stakeholder Impact

• The stock sales may have a minor impact on shareholder sentiment, but are unlikely to significantly affect the company's operations or financial health.

Key Dates

Keywords

Take-Two Interactive, TTWO, Daniel Emerson, stock sale, Rule 10b5-1, insider trading, executive compensation, share transaction