Summary
Take-Two Interactive Software, Inc. (TTWO) filed an 8-K on April 19, 2010, reporting on its annual meeting of stockholders held on April 15, 2010. The primary focus of the filing is the outcome of various shareholder votes. Key outcomes include the election of all nominated directors to the board for terms expiring in 2011, indicating strong shareholder confidence in current leadership. Additionally, shareholders approved an amendment to the 2009 Stock Incentive Plan, increasing the available shares by 2,750,000, which suggests a commitment to employee and executive compensation through equity. Finally, the appointment of Ernst & Young LLP as the company's independent auditors for the fiscal year ending October 31, 2010, was overwhelmingly ratified. This indicates a smooth annual meeting with no significant shareholder dissent on the presented matters.
Key Highlights
- 1All nominated directors were elected at the annual stockholders meeting held on April 15, 2010, with substantial support.
- 2Shareholders approved an amendment to the 2009 Stock Incentive Plan, authorizing an additional 2,750,000 shares.
- 3The appointment of Ernst & Young LLP as independent auditors for the fiscal year ending October 31, 2010, was ratified by stockholders.
- 4The company had 84,551,370 shares of Common Stock issued and outstanding as of the record date.
- 5A significant majority of the outstanding shares (67,244,710) were represented at the Annual Meeting.
- 6Broker Non-Votes were recorded for the director elections and the stock incentive plan vote, a common occurrence in public company meetings.