01—Abstract
Summary
Summary of the 8-K filed September 5, 2025. Cited figures are marked; the original filing is the authoritative source.
Take-Two Interactive Software, Inc. (TTWO) announced on September 5, 2025, through an 8-K filing, the adoption of a new Nonqualified Deferred Compensation Plan, effective September 1, 2025.
This plan, named the Take-Two Interactive Software, Inc. Deferred Compensation Plan, is designed for a select group of management and highly compensated employees, including named executive officers, as well as directors. It allows eligible participants to defer a portion of their compensation, such as base salary, annual cash bonuses, and director fees, into a deferred compensation account.
02—Key points
Key Highlights
- Adoption of a new Nonqualified Deferred Compensation Plan ("The Plan") effective September 1, 2025.
- The Plan is available to a select group of U.S.-based employees and directors, including named executive officers.
- Employees can defer up to 50% of base salary and up to 90% of annual cash bonuses.
- Directors can defer up to 100% of cash board retainers and meeting fees.
- Participants are 100% vested in their accounts at all times.
- The Company will not provide matching contributions but may offer discretionary contributions.
- The Plan is intended to comply with Section 409A of the Internal Revenue Code, with potential six-month delays on payments to 'specified employees' upon separation from service.
03—Questions
Frequently Asked Questions
What is the purpose of this new Deferred Compensation Plan?
The plan is designed to provide a compensation deferral opportunity for certain key employees and directors, allowing them to defer a portion of their base salary, bonuses, or director fees for future payment, intended as a retention and incentive tool.
Who is eligible to participate in the plan?
Eligibility is limited to a select group of U.S.-based employees and directors of Take-Two Interactive Software, Inc. This group typically includes management and highly compensated individuals.
Will the company contribute to these deferred accounts?
The company will not provide any matching contributions. However, Take-Two Interactive may make discretionary contributions to participants' accounts from time to time at its own election.
Are there any tax implications or restrictions on payments?
The plan is designed to comply with Section 409A of the Internal Revenue Code. Payments will be made according to the participant's election, but if a participant is considered a 'specified employee' at the time of separation from service, there may be a mandatory six-month delay in the payment of benefits.
04—Continue