Summary
Take-Two Interactive Software, Inc. (TTWO) filed an 8-K on January 4, 2008, reporting on equity awards granted to its executive officers on December 28, 2007. Specifically, the Chief Financial Officer, Lainie Goldstein, and the Executive Vice President and General Counsel, Seth D. Krauss, received grants of restricted stock. These awards are intended to incentivize and retain key leadership personnel. The restricted stock vests in one-third increments over three years, with a significant portion of each vesting installment also tied to specific performance criteria. This structure aims to align executive compensation with the company's performance and long-term success, providing a clear link between executive rewards and shareholder value.
Key Highlights
- 1Grant of restricted stock awards to key executive officers: Chief Financial Officer Lainie Goldstein and Executive Vice President and General Counsel Seth D. Krauss.
- 2Awards made under the Company's Incentive Stock Plan and approved by the Compensation Committee.
- 3Restricted stock vests in equal one-third increments on the first, second, and third anniversaries of the grant date.
- 4Fifty percent (50%) of each vesting installment is subject to the satisfaction of certain performance criteria, linking pay to performance.
- 5The filing details the number of shares granted to each named executive officer.