Form 4: Take-Two Interactive Director Paul Viera Reports Stock Transactions

Director Paul Viera of Take-Two Interactive reported acquiring 494 shares of common stock through a restricted stock grant and shares in lieu of cash compensation, while also disclosing indirect holdings through affiliated entities.

Summary

• Paul Viera, a director at Take-Two Interactive, reported acquiring 494 shares of common stock on November 14, 2024.
• These shares were acquired through a restricted stock grant as part of the director compensation program and the company's 2017 Stock Incentive Plan.
• The grant included 363 shares that will vest on the first anniversary of the pricing date and 131 fully vested shares granted in lieu of cash compensation.
• 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.
• Mr. Viera also reported indirect ownership of 74 shares through Earnest Institutional LLC and 75,000 shares through The PEV Revocable Living Trust.
• Mr. Viera disclaims beneficial ownership of the shares held by Earnest Institutional LLC except to the extent of his pecuniary interest.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to slightly positive as it aligns director interests with shareholders.

Positives

• The acquisition of shares by a director could be seen as a positive sign of confidence in the company's future performance.
• The grant of restricted stock aligns the director's interests with those of the shareholders.

Industry Context

This is a routine filing related to director compensation and is common practice for publicly traded companies. It reflects standard procedures for equity-based compensation.

Comparison to Industry Standards

• Stock grants to directors are a common practice in the technology and gaming industry, aligning their interests with shareholders.
• Many companies, such as Activision Blizzard and Electronic Arts, use similar stock incentive plans for their directors.
• The vesting schedule of one year for the restricted shares is also a typical practice.

Stakeholder Impact

• The stock grant to the director aligns his interests with those of the shareholders.
• The transaction has no immediate impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

Take-Two Interactive, TTWO, Paul Viera, Director, Stock Grant, Beneficial Ownership, Restricted Stock, Form 4, Insider Trading