Form 4: Take-Two Interactive President Karl Slatoff Reports Share Transactions
SEC Form 4 Filing
Karl Slatoff, President of Take-Two Interactive, reports transactions involving common stock and restricted units, including vesting, sales, forfeiture, and distribution of shares through Zelnick Media Corporation.
Summary
- On April 12, 2024, Karl Slatoff, President of Take-Two Interactive, reported transactions related to Take-Two Interactive Software Inc. common stock.
- These transactions involve the vesting of 178,137 restricted units previously granted to ZelnickMedia Corporation on April 13, 2022.
- Shares of common stock were sold by ZelnickMedia, 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 the failure to meet certain performance conditions.
- ZelnickMedia distributed 87,286 shares of common stock to its employees, including 17,167 shares to Mr. Slatoff.
- Mr. Slatoff also indirectly holds 1,146,518 restricted units through ZMC Advisors, L.P.
Sentiment
Score: 6
Explanation: The document primarily reports routine transactions. The forfeiture of performance-based units is a minor negative, but overall the sentiment is neutral.
Negatives
- 18,876 performance-based restricted units were forfeited due to the failure to meet certain performance conditions.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, providing transparency into the trading activities of company executives and related entities. It's common for executives to have pre-arranged trading plans (Rule 10b5-1) to manage their stock holdings and avoid accusations of insider trading.
Related Party Transactions
- The transactions involve ZelnickMedia Corporation, a related party due to its management agreement with Take-Two and Mr. Slatoff's affiliation.
Stakeholder Impact
- The transactions could have a minor impact on shareholders due to the sale of shares by ZelnickMedia, but the impact is likely limited given the pre-planned nature of the sales.
Key Dates
| Date | Description |
|---|---|
| 2018-01-01 | Effective date of the Management Agreement between Take-Two and ZelnickMedia. |
| 2022-04-13 | Date restricted units were granted to ZelnickMedia. |
| 2023-12-08 | Date ZelnickMedia adopted a Rule 10b5-1 trading plan. |
| 2024-04-12 | Date of reported transactions, including vesting, sales, forfeiture, and distribution of shares. |
| 2024-04-16 | Date of Form 4 filing. |
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