Form 4: Take-Two Interactive Director Michael Sheresky Reports Stock Transactions
SEC Form 4 Filing
Director Michael Sheresky reports acquisition of restricted stock and sale of shares to cover tax obligations.
Summary
- On August 16, 2024, Michael Sheresky, a director of Take-Two Interactive Software, Inc., acquired 396 shares of common stock as part of a restricted stock grant under the company's Director compensation program and 2017 Stock Incentive Plan.
- The shares vest on the first anniversary of the pricing date, which was determined using the average closing prices of the common stock over the thirty trading days prior to August 16, 2024.
- On August 19, 2024, Sheresky sold 191 shares of common stock at a price of $149.83 per share.
- This sale was executed under a pre-arranged Rule 10b5-1 trading plan adopted on August 23, 2023, to cover tax obligations arising from the vesting of previously granted restricted stock.
- Following these transactions, Sheresky beneficially owns 64,378 shares of Take-Two Interactive common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, with no inherent positive or negative sentiment. It's a neutral disclosure of information.
Industry Context
This filing is a routine disclosure of stock transactions by a company insider, which is common in publicly traded companies. It provides transparency into the trading activities of key personnel.
Comparison to Industry Standards
- Director stock transactions are a common occurrence in publicly listed companies like Take-Two Interactive.
- Similar transactions are regularly reported by directors and officers at companies such as Electronic Arts (EA) and Activision Blizzard (ATVI).
- The use of Rule 10b5-1 trading plans is a standard practice to avoid accusations of insider trading, aligning with practices seen across the industry.
Stakeholder Impact
- The stock transactions may have a minor impact on shareholders, providing transparency into director's stock ownership.
- The transactions do not directly impact employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 08/23/2023 | Date of adoption of Rule 10b5-1 trading plan |
| 08/16/2024 | Grant date of restricted common stock |
| 08/19/2024 | Date of sale of common stock |
| 08/20/2024 | Date of signature on the Form 4 filing |
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