Summary
This 8-K filing from Take-Two Interactive Software, Inc. (TTWO) on September 17, 2014, primarily reports on the outcomes of their Annual Meeting of Stockholders held on September 16, 2014. The most significant event for investors is the stockholder approval of amendments to the 2009 Stock Incentive Plan. These amendments include an increase of 5,000,000 shares to the plan's reserve, expanding eligibility to include all consultants, and re-approving performance goals for tax purposes. The election of directors and the ratification of Ernst & Young LLP as independent auditors for the fiscal year ending March 31, 2015, were also approved. An advisory vote on executive compensation also passed.
Key Highlights
- 1Stockholders approved amendments to the 2009 Stock Incentive Plan.
- 2The share reserve under the 2009 Stock Incentive Plan was increased by 5,000,000 shares.
- 3Eligibility for the stock incentive plan was expanded to include all consultants.
- 4Performance goals under the plan were re-approved for Section 162(m) of the Code.
- 5All nominated directors were re-elected for terms expiring at the 2015 annual meeting.
- 6Ernst & Young LLP was ratified as the independent auditor for the fiscal year ending March 31, 2015.
- 7An advisory vote to approve the compensation of named executive officers was passed.