Summary
This Form 8-K filing from Take-Two Interactive Software, Inc. reports on the appointment of Lainie Goldstein as Chief Financial Officer (CFO) through a three-year employment agreement, effective June 7, 2007. The agreement outlines her compensation, including an annual base salary starting at $384,600 and increasing in subsequent years, along with eligibility for an annual bonus of up to 75% of her salary based on company performance. Additionally, Ms. Goldstein was granted 30,000 shares of restricted stock, vesting over three years, and the agreement includes provisions for continued salary and/or bonus payments upon certain termination events, such as a change in control or termination without cause. These details provide insight into the company's executive compensation strategy and commitments to key financial leadership.
Key Highlights
- 1Lainie Goldstein appointed as Chief Financial Officer (CFO) effective June 7, 2007.
- 2Three-year employment agreement established for Ms. Goldstein.
- 3Annual base salary for the first year is $384,600, increasing to $409,600 in years two and three.
- 4Eligibility for an annual bonus up to 75% of salary, contingent on achieving financial targets.
- 5Grant of 30,000 restricted stock shares to Ms. Goldstein, with one-third vesting annually over three years.
- 6Provisions for continued salary and/or bonus payment (6-18 months) upon change in control or termination without cause.
- 7Ms. Goldstein has agreed to non-compete and non-solicitation clauses.