Take-Two Interactive Software (NASDAQ:TTWO) held its annual stockholder meeting virtually, with shareholders asked to vote on four proposals including the election of 10 directors, executive compensation, an officer-liability amendment and the appointment of Ernst & Young LLP as auditor for fiscal 2027.
The company said 186.98 million common shares were entitled to vote as of the July 23, 2026, record date. A quorum was present, according to Dan Emerson, Take-Two’s executive vice president and chief legal officer. The meeting concluded after polls closed, though vote results were not disclosed during the webcast.
Shareholder Proposals
Stockholders also considered a non-binding advisory vote on compensation for the company’s named executive officers. Other proposals included approval of an amendment to Take-Two’s certificate of incorporation intended to limit liability for certain officers as permitted under Delaware law, and ratification of Ernst & Young as the company’s independent registered public accounting firm for the fiscal year ending March 31, 2027.
GTA VI Set for November Release
During a shareholder question-and-answer session following the formal meeting, Zelnick reiterated that Grand Theft Auto VI is scheduled to launch on Nov. 19. He described the release as a single-player title planned for Xbox and PlayStation 5.
Zelnick said Take-Two will not anticipate recurrent consumer spending from the initial GTA VI launch because it is being introduced as a single-player experience. He contrasted that approach with the continued performance of GTA V Online, which he said remains a “robust business” that the company will continue to support.
“GTA is a different kind of experience in that the single player experience can be very successful to say the least,” Zelnick said, noting that Grand Theft Auto V has sold more than 230 million units since its 2013 launch and has remained a top-five-selling title for 13 years.
He said more specific GTA VI marketing information will come from Rockstar Games, Take-Two’s label behind the franchise. Zelnick said the company does not claim success ahead of a launch but is “cautiously optimistic” about the title.
Global Marketing and PC Strategy
Zelnick said GTA VI will initially be localized in 13 languages, including Spanish and Portuguese for Latin America and major European languages. Take-Two will tailor marketing activities by market, he said, supported by local offices and marketing partnerships.
“All of our big titles tend to be global events,” Zelnick said. “We certainly want them to be global events.”
Addressing a question about the cadence of PC releases, Zelnick said Take-Two’s general strategy is to launch on platforms where there is a meaningful audience, although that does not always occur. He said the PC platform is becoming increasingly important to the company over time.
Management Performance and Outlook
In response to a shareholder question about executive accountability and dependence on a limited number of major franchises, Zelnick said Take-Two’s board is “exceedingly diligent and rigorous” and would replace management if the team did not perform.
He disputed the question’s characterization of the company’s record, pointing to changes since the current management team took over in March 2007. Zelnick said Take-Two had less than $1 billion in revenue at that time, had one major franchise in Grand Theft Auto, and was facing investigations and financial challenges.
Since then, he said, the company has diversified, entered mobile gaming and launched more than 11 franchises that have each sold more than 5 million units with an individual release. He also said Take-Two is now the largest publicly traded pure-play interactive entertainment company by market capitalization.
Zelnick said the company’s stock had appreciated about 1,200% from March 2007 through the date of the meeting, compared with 440% for the S&P 500 and 980% for the Nasdaq over that period. He added that Take-Two is guiding for fiscal-year revenue of between $8 billion and $8.2 billion, with significant free cash flow anticipated.
About Take-Two Interactive Software (NASDAQ:TTWO)
Take-Two Interactive Software, Inc is a global developer, publisher and marketer of interactive entertainment. The company creates and distributes games for consoles, personal computers and mobile devices, as well as related downloadable content, subscriptions and in-game services.
Take-Two operates through well-known labels including Rockstar Games, 2K and Zynga. Its portfolio includes the Grand Theft Auto, Red Dead Redemption, NBA 2K, WWE 2K, Borderlands, BioShock, Civilization and XCOM franchises, along with mobile and social games such as Zynga’s casual and social entertainment offerings.
Founded in 1993 and headquartered in New York City, Take-Two serves customers worldwide through both physical retail channels and digital distribution platforms.
