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Filing Details

Accession Number:: 0001127602-24-017715
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2024-06-04 16:48:51
Reporting Period:: 2024-05-31

Accepted Time:: 2024-06-04 16:48:51
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
946581	Take Two Interactive Software Inc	TTWO	Services-Prepackaged Software (7372)	510350842

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1223489	Strauss Zelnick	C/O Take-Two Interactive Software, Inc. 110 West 44Th Street New York NY 10036	Chairman, Ceo	Yes	Yes	No	No

Reported Non-Derivative Transactions

Show Other Fields >>

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2024-05-31	67,920	$0.00	1,078,598	No	4	D	Indirect	By ZMC Advisors, L.P.
Common Stock	Disposition	2024-05-31	49,402	$158.96	1,029,196	No	4	S	Indirect	By ZMC Advisors, L.P.
Common Stock	Disposition	2024-05-31	32,054	$160.08	997,142	No	4	S	Indirect	By ZMC Advisors, L.P.
Common Stock	Disposition	2024-05-31	6,105	$160.65	991,037	No	4	S	Indirect	By ZMC Advisors, L.P.
Common Stock	Disposition	2024-05-31	84,128	$0.00	906,909	No	4	J	Indirect	By ZMC Advisors, L.P.
Common Stock	Disposition	2024-05-31	34,493	$0.00	0	No	4	G	Direct
Common Stock	Acquisiton	2024-05-31	34,493	$0.00	203,010	No	4	G	Indirect	By Zelnick Belzberg Living Trust
Common Stock	Acquisiton	2024-06-03	516,179	$0.00	1,423,088	No	4	A	Indirect	By ZMC Advisors, L.P.

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	D	Indirect	By ZMC Advisors, L.P.
No	4	S	Indirect	By ZMC Advisors, L.P.
No	4	S	Indirect	By ZMC Advisors, L.P.
No	4	S	Indirect	By ZMC Advisors, L.P.
No	4	J	Indirect	By ZMC Advisors, L.P.
No	4	G	Direct
No	4	G	Indirect	By Zelnick Belzberg Living Trust
No	4	A	Indirect	By ZMC Advisors, L.P.

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	71,551	Indirect	By Wendy Jay Belzberg 2012 Family Trust

Footnotes

EXPLANATORY NOTE: This Form 4 relates to (i) the vesting of 171,689 restricted units previously granted to ZMC Advisors, L.P. ("ZMC") on June 1, 2022 and June 1, 2023 under the Management Agreement, dated effective May 23, 2022, between the issuer and ZMC (the "Management Agreement"), and the sale of shares of Common Stock by ZMC, including in order to satisfy the tax obligations arising from such vesting, pursuant to a Rule 10b5-1 trading plan adopted on December 8, 2023 by ZMC, (ii) the forfeiture of 67,920 performance-based restricted units previously granted to ZMC on June 1, 2022 under the Management Agreement due to the failure to meet certain performance conditions, (iii) the distribution by ZMC to certain of its employees of 84,128 shares of Common Stock received by ZMC upon such vesting in accordance with the customary historical practices of ZMC, and (iv) the annual grant of restricted stock units to ZMC on June 3, 2024, in each case as further described below.
Represents the forfeiture of 67,920 performance-based restricted units previously granted to ZMC on June 1, 2022 due to the failure to meet certain performance conditions.
Represents 906,909 restricted units and 171,689 shares of Common Stock held directly by ZMC (in each case after giving effect to the forfeiture and vesting described in footnote (2) above and footnote (6) below), of which Mr. Zelnick is a partner (and such securities are not held individually by Mr. Zelnick). Mr. Zelnick disclaims beneficial ownership of the securities held by ZMC except to the extent of his pecuniary interest therein.
All of the sales reported in this Form 4 were made pursuant to a Rule 10b5-1 trading plan adopted on December 8, 2023 by ZMC related to the vesting of restricted units granted pursuant to the Management Agreement.
These transactions are reported on separate lines due to the range of the sale prices.
On May 31, 2024, 171,689 restricted units previously granted to ZMC vested. The reported sale transactions were effected pursuant to a Rule 10b5-1 trading plan adopted on December 8, 2023 by ZMC, including to satisfy the tax obligations of the partners of ZMC upon the vesting of such restricted units.
Represents a weighted average sales price of shares sold in multiple transactions at sales prices ranging from $158.46 to $159.46, inclusive. Upon request, the Reporting Person undertakes to provide the full sale information regarding the number of shares sold at each price increment to the Commission, the issuer or any security holder of the issuer.
Represents a weighted average sales price of shares sold in multiple transactions at sales prices ranging from $159.47 to $160.47, inclusive. Upon request, the Reporting Person undertakes to provide the full sale information regarding the number of shares sold at each price increment to the Commission, the issuer or any security holder of the issuer.
Represents a weighted average sales price of shares sold in multiple transactions at sales prices ranging from $160.48 to $160.84, inclusive. Upon request, the Reporting Person undertakes to provide the full sale information regarding the number of shares sold at each price increment to the Commission, the issuer or any security holder of the issuer.
On May 31, 2024, 171,689 restricted units previously granted to ZMC vested. Following such vest, ZMC distributed a total of 84,128 shares received upon vesting to its employees, including 34,493 shares to Mr. Zelnick, which shares Mr. Zelnick had previously indirectly beneficially owned through ZMC.
Mr. Zelnick received 34,493 shares pursuant to a distribution, as further described in Footnote (10) above, which receipt was exempt from Section 16 as such shares were previously held by Mr. Zelnick indirectly through ZMC. Mr. Zelnick then contributed such securities to the Zelnick/Belzberg Living Trust in exchange for no consideration.
Represents 203,010 shares of Common Stock held by the Zelnick/Belzberg Living Trust (such securities are indirectly held by Mr. Zelnick), including 34,493 shares received by Mr. Zelnick pursuant to the distribution referred to in Footnote (10) above, which were then contributed to the Zelnick/Belzberg Living Trust. Mr. Zelnick disclaims beneficial ownership of the securities held by the Zelnick/Belzberg Living Trust except to the extent of his pecuniary interest therein.
Represents the grant of 516,179 restricted units to ZMC pursuant to the Restricted Unit Agreement entered into by ZMC and the Company on June 3, 2024. Includes (a) 101,999 time-based restricted units, 33,999 of which units are scheduled to vest on June 1, 2025, 34,000 of which units are scheduled to vest on June 1, 2026, and 34,000 of which units are scheduled to vest on June 1, 2027, and (b) 414,180 performance-based restricted units (representing the maximum number of performance-based units that are eligible to vest) that are subject to vesting on June 1, 2027. Further information regarding the Restricted Unit Agreement and the restricted units, including the vesting schedule, is available in the Company's Registration Statement on Form S-3 filed with the Commission on June 3, 2024.
Represents 1,423,088 restricted units held directly by ZMC Advisors, L.P., of which Mr. Zelnick is a partner (such securities are not held individually by Mr. Zelnick). Mr. Zelnick disclaims beneficial ownership of the securities held by ZMC Advisors, L.P. except to the extent of his pecuniary interest therein.
Represents 71,551 shares of Common Stock held by the Wendy Jay Belzberg 2012 Family Trust (such securities are indirectly held by Mr. Zelnick). Mr. Zelnick disclaims beneficial ownership of the securities held by the Wendy Jay Belzberg 2012 Family Trust except to the extent of his pecuniary interest therein.