Form 4: Take-Two Interactive Director Michael Dornemann Acquires Restricted Stock

Take-Two Interactive director Michael Dornemann acquired 363 shares of restricted common stock as part of the company's director compensation program.

Summary

• Michael Dornemann, a director at Take-Two Interactive Software Inc., acquired 363 shares of restricted common stock on November 14, 2024.
• The shares were granted as part of the company's director compensation program and 2017 Stock Incentive Plan.
• The number of shares was determined based on the dollar value of the award and the average closing price of the common stock over the thirty trading days prior to November 14, 2024.
• The restricted stock will vest on the first anniversary of the pricing date.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed positively as it aligns director interests with shareholders. There are no negative implications.

Positives

• The acquisition of shares by a director demonstrates alignment with the company's interests.
• The use of restricted stock as part of compensation can incentivize long-term performance.

Future Outlook

The restricted stock will vest on the first anniversary of the pricing date, which is November 14, 2025.

Industry Context

This is a standard practice for compensating directors in publicly traded companies, aligning their interests with those of shareholders.

Comparison to Industry Standards

• Many publicly traded companies use restricted stock grants as part of their director compensation packages.
• The vesting period of one year is a common practice to incentivize long-term commitment.
• The use of a 30-day average closing price to determine the number of shares is a standard method to mitigate short-term price fluctuations.

Stakeholder Impact

• The stock grant aligns the director's interests with those of shareholders.
• The vesting period encourages long-term commitment from the director.

Next Steps

• The restricted stock will vest on the first anniversary of the pricing date.

Key Dates

Keywords

Take-Two Interactive, Director Compensation, Restricted Stock, Stock Incentive Plan, Michael Dornemann, TTWO, SEC Form 4