SEC Form 4 · accession 0001127602-18-020070
TAKE TWO INTERACTIVE SOFTWARE INC · TTWO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Daniel P Emerson
Officer — Exec. VP and General Counsel
Period of report
Jun 1, 2018
Accepted (ET)
Jun 5, 2018 · 6:22 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000946581
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Jun 1, 2018 | A | 17,155 | $0.00 | A | 115,616 | D | |
| Common StockF3 | Jun 1, 2018 | F | 27,397 | $114.59 | D | 88,219 | D | |
| Common StockF4,F5,F6 | Jun 4, 2018 | S | 8,331 | $113.6222 | D | 79,888 | D | |
| Common StockF4,F5,F7,F8 | Jun 4, 2018 | S | 4,940 | $114.1449 | D | 74,948 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents the grant of 17,155 restricted units to Mr. Emerson under the Take-Two Interactive Software, Inc. 2017 Stock Incentive Plan. Includes (i) 3,427 time-based restricted units that vest in three equal annual installments commencing on June 1, 2019 and (ii) 13,728 performance-based restricted units that vest in two equal annual installments commencing on June 1, 2020, subject to the satisfaction of certain performance criteria. The number of restricted units was determined based on the dollar value of the award and the average of the closing prices of the common stock on the ten trading days immediately prior to April 1, 2018.
- F2The number of shares of common stock that may be issued upon vesting of the performance-based units assumes the achievement of the maximum performance criteria (200% of target) established by the Issuer's Compensation Committee; however the actual number of such shares may range from zero to 13,728, with the number of shares at target performance equal to 6,864.
- F3This represents (i) 14,752 shares withheld by the Issuer for payment of withholding tax liability incurred upon the vesting of time-based and performance-based restricted stock units originally granted on June 1, 2015, which vested on June 1, 2018, (ii) 11,796 shares withheld by the Issuer for payment of withholding tax liability incurred upon the vesting of time-based and performance-based restricted stock units originally granted on June 1, 2016, which vested on June 1, 2018 and (iii) 849 shares withheld by the Issuer for payment of withholding tax liability incurred upon the vesting of time-based restricted stock units originally granted on June 1, 2017, which vested on June 1, 2018.
- F4These transactions are reported on separate lines due to the range of the sale price.
- F5This transaction was effected pursuant to a Rule 10b5-1 trading plan entered into by the Reporting Person.
- F6Represents a weighted average sales price of shares sold in multiple transactions at sales prices ranging from $112.82 to $113.82, 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.
- F7Represents a weighted average sales price of shares sold in multiple transactions at sales prices ranging from $113.83 to $114.68, 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.
- F8Includes (i) 13,268 shares of Common Stock, (ii) 9,784 unvested time-based restricted stock units, and (iii) 51,896 unvested performance-based restricted stock units. Such unvested awards will vest, or fail to vest, in accordance with the terms of the applicable award agreements.