01—Abstract
Summary
Summary of the 8-K filed September 17, 2014. Cited figures are marked; the original filing is the authoritative source.
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.
02—Key points
Key Highlights
- Stockholders approved amendments to the 2009 Stock Incentive Plan.
- The share reserve under the 2009 Stock Incentive Plan was increased by 5,000,000 shares.
- Eligibility for the stock incentive plan was expanded to include all consultants.
- Performance goals under the plan were re-approved for Section 162(m) of the Code.
- All nominated directors were re-elected for terms expiring at the 2015 annual meeting.
- Ernst & Young LLP was ratified as the independent auditor for the fiscal year ending March 31, 2015.
- An advisory vote to approve the compensation of named executive officers was passed.
03—Questions
Frequently Asked Questions
What was the primary purpose of this 8-K filing?
This 8-K filing reports on the results of Take-Two Interactive Software, Inc.'s Annual Meeting of Stockholders held on September 16, 2014. The key outcomes include stockholder approval of amendments to the 2009 Stock Incentive Plan, election of directors, ratification of auditors, and an advisory vote on executive compensation.
What specific changes were made to the 2009 Stock Incentive Plan?
The amendments approved by stockholders increased the total share reserve under the 2009 Stock Incentive Plan by 5,000,000 shares. Additionally, the plan's eligible participants were expanded to include all consultants, and the performance goals were re-approved to comply with Section 162(m) of the Internal Revenue Code.
Were the company's directors re-elected?
Yes, all the directors nominated for election at the annual meeting were duly elected by the stockholders. They will serve for a term expiring at the annual meeting of stockholders in 2015.
Who will serve as Take-Two's independent auditors?
The stockholders ratified the appointment of Ernst & Young LLP as the independent auditors for Take-Two Interactive Software, Inc. for the fiscal year ending March 31, 2015.
04—Continue