In a virtual annual meeting on September 18, 2024, Take-Two (NASDAQ:TTWO) Interactive Software Inc. (NASDAQ:TTWO) shareholders voted on several key proposals, including the election of directors and executive compensation. The gathering, held via webcast, saw a significant turnout with over 156 million shares represented.
Shareholders re-elected all the nominated directors for a term expiring at the annual meeting in 2025. Strauss Zelnick, Michael Dornemann, William "Bing" Gordon, Roland Hernandez, J Moses, Michael Sheresky, Ellen Siminoff, LaVerne Srinivasan, Susan Tolson, and Paul Viera will continue their roles on the board. The votes for each director ranged from 131 million to 145 million in favor, with the opposition and abstentions significantly lower.
In an advisory capacity, stockholders also approved the compensation of named executive officers, with over 125 million votes supporting the current pay structure versus approximately 20 million against and 291,000 abstentions.
Additionally, the appointment of Ernst & Young LLP as the company's independent auditors for the fiscal year ending March 31, 2025, was ratified with over 153 million votes in favor, around 1.9 million against, and 116,000 abstentions.
In other recent news, Take-Two Interactive Software Inc. has been in the spotlight for several developments. The company, in collaboration with Wētā Workshop, is set to release "Tales of the Shire: A The Lord of The Rings Game" in March 2025. On the legal front, Take-Two faces a $44.9 million patent infringement verdict involving its subsidiary, Zynga (NASDAQ:ZNGA) Inc., which it plans to challenge.
The company has also launched NBA 2K25, featuring new ProPLAY technology and modes. Take-Two has announced the release schedule for upcoming video games, including "Borderlands 4" and "Mafia: The Old Country" for 2025, and "Sid Meier's Civilization VII" due early 2025.
Analysts from Stifel, Redburn-Atlantic, and TD Cowen have maintained Buy ratings for Take-Two. Stifel raised its non-GAAP EPS forecast for fiscal year 2026 to $7.82 on net bookings of $8.381 billion. Analysts also anticipate significant financial contributions from the upcoming release of Grand Theft Auto VI.
Despite a recent strike by voice actors and motion-capture artists from the Screen Actors Guild‐American Federation of Television and Radio Artists (SAG-AFTRA), analysts from Wedbush Securities expect minimal impact due to the long development cycles of major games and the presence of in-house studios.
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