DEF 14A of Take Two Interactive Software Inc, Jul 27, 2026

DEF 14A of Take Two Interactive Software Inc

Filed Jul 27, 2026 · FY20260001628280-26-049813

Open on EDGAR

  1. Board Composition

    Board Composition

  2. Board Composition

    | Name | Age | Director Since | Other Public Boards | Audit | Compensation | Corporate Governance | Executive | Technology Risk | | LaVerne Srinivasan Lead Independent Director since September 21, 2023 Retired Vice President, Carnegie Corporation of New York | 64 | March 2017 | 0 | | | | | | | Michael Dornemann Retired Chairman and CEO, Bertelsmann Entertainment | 80 | March 2007 | 0 | | | | | | | William “Bing” Gordon Partner, Kleiner Perkins Caufield & Byers | 76 | May 2022 | 1 | | | | | | | Roland Hernandez Founding Principal and CEO of Hernandez Media Ventures | 68 | September 2019 | 2 | | | | | | | J Moses Principal, J Moses Projects | 67 | March 2007 | 0 | | | | | | | Michael Sheresky Partner, United Talent Agency | 58 | March 2007 | 0 | | | | | | | Ellen Siminoff Seasoned media and technology executive and board member | 58 | May 2022 | 1 | | | | | | | Susan Tolson Retired Portfolio Manager, Capital Research and Management Company | 64 | March 2014 | 1 | | | | | | | Paul Viera CEO, Earnest Partners LLC | 67 | May 2018 | 0 | | | | | | | Strauss Zelnick Chairman and CEO, Take-Two Interactive Software, Inc. | 69 | March 2007 | 1 | | | | | |

  3. Board Composition

    | | Member | | Chair |

  4. Board Composition

    | TAKE-TWO INTERACTIVE SOFTWARE, INC. | 2026 Proxy Statement | 7 |

  5. PROPOSAL 1: ELECTION OF DIRECTORS

    PROPOSAL 1: ELECTION OF DIRECTORS All members of the Board of Directors stand for election on an annual basis, and at the Annual Meeting 10 director nominees will stand for election to hold office for a term expiring at the 2027 Annual Meeting of Shareholders. The Board of Directors, upon the recommendation of the Corporate Governance Committee, has nominated the individuals named below. Each director who is elected will serve until a successor is elected and qualified or until the director’s earlier resignation or removal. The Corporate Governance Committee is responsible for evaluating the size and composition of the Board of Directors relative to the evolving needs of the Company at any given time, and actively identifying qualified individuals to become new director nominees as needed. The Corporate Governance Committee has developed criteria, including certain personal and professional qualities, to evaluate whether the potential nominee would be a qualified director candidate for service on Take-Two’s Board of Directors. Our 10 nominees include nine independent, outside directors who as a group have extensive management experience, subject matter expertise, and knowledge that is critical to the Company. The average director tenure is approximately twelve years and the average age of the Board members is 67. At the Annual Meeting, the proxies given by shareholders will be voted individually for the election of the persons named herein as director nominees, unless a proxy card specifies that a shareholder is voting against any such nominee. If any of the nominees listed below shall be unable to serve, it is intended that the proxy will be voted for such other nominees as may be designated by the Board of Directors. Each of the persons named herein has indicated to the Board of Directors that he or she will be available to serve as a director of the Company. In an uncontested election, a director will be elected if the number of votes that are cast “FOR” his or her election by holders of the stock present in person or represented by proxy entitled to vote on the election of directors exceeds the number of votes cast “AGAINST” his or her election by such holders. The Company’s bylaws provide that any nominee for director who fails to meet this standard shall promptly tender such individual’s resignation to the Corporate Governance Committee following certification of the shareholder vote. For more information regarding this policy, see “Policy on Majority Voting for Directors.”

  6. PROPOSAL 1: ELECTION OF DIRECTORS

    | | THE BOARD OF DIRECTORS RECOMMENDS THAT SHAREHOLDERS VOTE “FOR” THE ELECTION OF THE NOMINEES NAMED BELOW: |

  7. PROPOSAL 1: ELECTION OF DIRECTORS

    | 10 | TAKE-TWO INTERACTIVE SOFTWARE, INC. | 2026 Proxy Statement |

  8. PROPOSAL 1: ELECTION OF DIRECTORS

    PROPOSAL 1: ELECTION OF DIRECTORS

  9. PROPOSAL 1: ELECTION OF DIRECTORS

    | Age: 64 Director since: March 2017 LEAD INDEPENDENT DIRECTOR Committee Membership(s): •Executive Committee (Chair) Beneficial owner of 8,719 shares | LAVERNE SRINIVASAN | | | Key qualifications and expertise provided to our board: Ms. Srinivasan brings to the Board of Directors strong leadership skills, extensive experience leveraging technology in the education and entertainment industries, expertise in human capital management, and deep marketing expertise from her current and previous positions. Ms. Srinivasan became our Lead Independent Director after our 2023 annual meeting and in that role uses the expertise she brings to the Board of Directors for the oversight of our management agreement with ZMC as successor by assignment from ZelnickMedia Corporation (“ZelnickMedia”). Ms. Srinivasan was Vice President of the National Program and Program Director for Education at the Carnegie Corporation of New York until September 2025, employing creative strategies and innovative thinking to strengthen urban education. From 2014 through September 2025, she oversaw grant making and other activities aimed at engaging parents and communities, improved teaching and leadership for learning, advanced innovative learning environment designs, provided K-12 pathways to college and career success, and fostered integrated approaches to innovation and learning in the field of education. Ms. Srinivasan received a BA from Harvard College and a JD from Harvard Law School. | | | Additional Public Directorships (current): •None | | | Prior professional roles: From 2012 through 2014, Ms. Srinivasan was the Co-Founder of Fiero Now, an education technology company. Prior to Fiero Now, she worked at various educational technology, urban district change, and non-profit education reform companies, including Time to Know, Education Champions for All and New Leaders for New Schools. From 2003 through 2006, Ms. Srinivasan served as Deputy Chancellor for the New York City Department of Education. In addition, from 1993 through 2003, she served in various roles at BMG Entertainment, including as Senior Vice President and General Counsel. | | | Other board experience: Ms. Srinivasan serves as chairman of the board of Educational Testing Service, as a member of the national advisory board of College Promise Campaign, as a member of the advisory boards of National Education Equity Lab, EdTech Evidence Exchange, Global Science of Learning for Education Network, Global Cities, Inc., Transcend Inc., Urban Schools Human Capital Academy, and America’s Promise Alliance, and was a founding member of the Consortium for Policy Research in Education’s task force on Strategic Management of Human Capital. |

  10. PROPOSAL 1: ELECTION OF DIRECTORS

    | Age: 80 Director since: March 2007 INDEPENDENT DIRECTOR Committee Membership(s): •Executive Committee •Compensation Committee Beneficial owner of 20,374 shares | MICHAEL DORNEMANN | | | Key qualifications and expertise provided to our board: Mr. Dornemann’s highly relevant leadership, management, marketing and consulting experience, including his role as Chief Executive Officer of Bertelsmann Entertainment, strongly qualifies him to contribute to all aspects of board discussion and operations. His accomplished history of service with fashion and entertainment companies, including as an outside director, provides a unique level of insight into both our business and our governance. Mr. Dornemann is an entertainment and marketing executive with more than 30 years of management consulting, corporate development, strategic advisory and media experience. Prior to 2001, Mr. Dornemann was an executive board member of Bertelsmann AG for 16 years and Chairman and Chief Executive Officer of Bertelsmann Entertainment (music and television division, BMG and RTL Group). Before that, he held positions with IBM and Boston Consulting Group. Mr. Dornemann received an MBA and PhD from Technical University Berlin. | | | Additional Public Directorships (current): •None | | | Other board experience: Mr. Dornemann has previously served on several boards, including as Chairman of Jet Set AG, a worldwide fashion company based in Switzerland, until 2009; as a director of Columbia Music Entertainment (CME) of Japan until 2010; and as vice-chairman and an audit and compensation committee member of Access Worldwide Communications until 2013. |

  11. PROPOSAL 1: ELECTION OF DIRECTORS

    | TAKE-TWO INTERACTIVE SOFTWARE, INC. | 2026 Proxy Statement | 11 |

  12. PROPOSAL 1: ELECTION OF DIRECTORS

    PROPOSAL 1: ELECTION OF DIRECTORS

  13. PROPOSAL 1: ELECTION OF DIRECTORS

    | Age: 76 Director since: May 2022 INDEPENDENT DIRECTOR Committee Membership(s): •Technology Risk Committee Beneficial owner of 57,187 shares | WILLIAM “BING” GORDON | | | Key qualifications and expertise provided to our board: Mr. Gordon was selected to serve on our Board of Directors due to his extensive leadership and entrepreneurial experience as a senior executive of Electronic Arts Inc. (“EA”), a company he co-founded and through which he gained experience with emerging technologies and consumer-focused product development and marketing issues, as well as for his experience as a member of the board of directors and special consultant to Zynga, and as a venture capitalist investing in and guiding technology companies. Mr. Gordon has been a partner at Kleiner Perkins Caufield & Byers, a venture capital firm, since June 2008. Mr. Gordon co-founded EA and held various roles, including Vice President, Marketing and later, Executive Vice President and Chief Creative Officer from March 1998 to May 2008. Mr. Gordon received a BA from Yale University and an MBA from Stanford Graduate School of Business. | | | Additional Public Directorships (current): •Duolingo, Inc. | | | Other board experience: Mr. Gordon serves on the boards of directors of Duolingo, a language learning company; and privately held companies including Dreamscape, a VR and learning systems company; Flipboard, a media sharing company; Playcast, a game streaming platform; Aura, a private telephony safety company; Synthbee, a private AI agent provider; Tacta, a private physical AI company in hand robotics; Cameo, a private media company; Playful.AI, a private AI games company; Nuna Health, a private Medicare gamification company; and Lord of the Games, a private board game design tools company. Mr. Gordon served as a member of the boards of directors of Zynga Inc. from 2008 to May 2022, when we acquired Zynga, and Truecaller AB, a telephony company, from 2020 until March 2024. Mr. Gordon was a special advisor to the board of directors of Amazon.com, Inc. until April 2023, and was previously a member of its board of directors from 2003 until January 2018. He was also a founding director at ngmoco, LLC (acquired by DeNA Co. Ltd. in 2010) and Audible, Inc. (acquired by Amazon.com, Inc. in 2008). Mr. Gordon was awarded the Academy of Interactive Arts & Sciences’ Lifetime Achievement Award in 2011 and held the game industry’s first ever endowed chair in game design at the University of Southern California School of Cinematic Arts. |

  14. PROPOSAL 1: ELECTION OF DIRECTORS

    | Age: 68 Director since: September 2019 INDEPENDENT DIRECTOR Committee Membership(s): •Corporate Governance Committee (Chair) •Compensation Committee Beneficial owner of 10,727 shares | ROLAND HERNANDEZ | | | Key qualifications and expertise provided to our board: As the former President, Chief Executive Officer and Chairman of Telemundo Group, Inc., a television and entertainment company, and through his experience on the Boards of Fox Corporation, MGM Resorts International, Sony Corporation, Walmart Inc. and Vail Resorts, Inc., Mr. Hernandez offers significant experience in international business and financial matters and a broad understanding of the retail and media sectors which is particularly relevant to the Company. In addition, with his extensive experience on the boards of large public corporations, Mr. Hernandez brings broad corporate governance expertise, along with significant knowledge of board operations, to our Board of Directors. Mr. Hernandez is the Founding Principal and Chief Executive Officer of Hernandez Media Ventures, a privately held company engaged in the acquisition and management of media assets. He has served in this capacity since January 2001. Before founding Hernandez Media Ventures, Mr. Hernandez served as Chairman of Telemundo Group, Inc., a Spanish-language television and entertainment company, from 1998 to 2000 and as President and Chief Executive Officer from 1995 to 2000. Mr. Hernandez received a BA from Harvard College and a JD from Harvard Law School. | | | Additional Public Directorships (current): •US Bancorp •Fox Corporation | | | Other board experience: Until April 2019, Mr. Hernandez served as the Chairman of the Board of Belmond, Ltd. Until December 2019, Mr. Hernandez served as a member of the board of directors of Vail Resorts, Inc. Until May 2021, Mr. Hernandez served as a member of the board of directors of MGM Resorts International. Mr. Hernandez serves on the advisory board of Harvard Law School. He previously served on the board of directors of Sony Corporation and Walmart Inc. |

  15. PROPOSAL 1: ELECTION OF DIRECTORS

    | 12 | TAKE-TWO INTERACTIVE SOFTWARE, INC. | 2026 Proxy Statement |

  16. PROPOSAL 1: ELECTION OF DIRECTORS

    PROPOSAL 1: ELECTION OF DIRECTORS

  17. PROPOSAL 1: ELECTION OF DIRECTORS

    | Age: 67 Director since: March 2007 INDEPENDENT DIRECTOR Committee Membership(s): •Technology Risk Committee (Chair) •Corporate Governance Committee Beneficial owner of 21,868 shares | J MOSES | | | Key qualifications and expertise provided to our board: Mr. Moses provides insight based on vast media experience and leadership history, including his roles as CEO of UGO Networks, President of MTV Russia and President of BMG Interactive, and his deep understanding of the interactive entertainment industry and its global opportunities. Mr. Moses has spent the past 40 years collaborating with leading brands, companies, and figures across sports, news, television, film, technology, gaming, and wagering. After an eight-year tenure at ABC Sports, Mr. Moses moved into technology as President of BMG Games where he green-lit and developed the original Grand Theft Auto. He then launched MTV Russia as its President, overseeing the first launch of a cable network in Russia. Mr. Moses went on to co-found and lead UGO (Unified Gamers Online), managing its growth and eventual sale to Hearst Magazines. Currently, Mr. Moses advises numerous venture-backed tech and media companies and develops scripted TV programs as President of OptIn Studios. Mr. Moses is a graduate of Princeton University and the Harvard Graduate School of Business Administration. | | | Additional Public Directorships (current): •None | | | Prior executive roles: Mr. Moses was the founder, and from 1998 to 2007, the Chief Executive Officer, of UGO Networks, Inc., an online publisher and affiliate network delivering information and entertainment to over 20 million gamers around the world. He managed the sale of the company to the Hearst Corporation in 2007. Mr. Moses previously served as the President of MTV Russia where he successfully oversaw the establishment of the Moscow-based Network in 1998. Mr. Moses served as the President of BMG Interactive from 1993 to 1996, the former video game and new technology divisions of BMG Entertainment, where he “green-lighted” a portfolio of 11 video games including the original Grand Theft Auto. Mr. Moses has served as the Special Assistant to Roone Arledge, the President of ABC Sports and News; as an Executive Producer on Stolen Babies, a made for TV movie for ABC; and as Creator for New York News, a TV series for CBS. |

  18. PROPOSAL 1: ELECTION OF DIRECTORS

    | Age: 58 Director since: March 2007 INDEPENDENT DIRECTOR Committee Membership(s): •Compensation Committee (Chair) Beneficial owner of 65,495 shares | MICHAEL SHERESKY | | | Key qualifications and expertise provided to our board: Mr. Sheresky’s entertainment experience as a talent agent is an important asset to the Board of Directors, including his particularly keen insight into negotiations with, and the development and compensation of creative talent and of management. Mr. Sheresky is a partner at United Talent Agency, where he has served as a motion picture talent agent since June 2009. Mr. Sheresky is responsible for structuring projects and deals in the areas of motion picture and television development, production and distribution. Mr. Sheresky received a BA from Vassar College and an MBA from Harvard Business School. | | | Additional Public Directorships (current): •None | | | Prior professional roles: From 1992 through 1995, and then from 1997 through May 2009, Mr. Sheresky held a number of positions at the William Morris Agency, a talent agency, most recently Senior Vice President in its Motion Picture Department. During that time, he represented authors, journalists, screenwriters, directors, producers and actors in the motion picture and television businesses. |

  19. PROPOSAL 1: ELECTION OF DIRECTORS

    | TAKE-TWO INTERACTIVE SOFTWARE, INC. | 2026 Proxy Statement | 13 |

  20. PROPOSAL 1: ELECTION OF DIRECTORS

    PROPOSAL 1: ELECTION OF DIRECTORS

  21. PROPOSAL 1: ELECTION OF DIRECTORS

    | Age: 58 Director since: May 2022 INDEPENDENT DIRECTOR Committee Membership(s): •Audit Committee •Corporate Governance Committee Beneficial owner of 12,237 shares | ELLEN SIMINOFF | | | Key qualifications and expertise provided to our board: Ms. Siminoff was selected to serve on the Board of Directors due to her breadth of professional experiences in emerging growth and technology companies, her backgrounds in marketing and advertising, her knowledge of consumer trends and expertise in corporate and business development, her governance experience as a director of several public companies, and her success in a variety of industries. Ms. Siminoff is a long-tenured media and technology executive and board member. From 2007 to 2018, she was President and CEO of Shmoop University, an educational publishing company which has built millions of units of content. Ms. Siminoff served as President and CEO of Efficient Frontier, a pioneer in the field of dynamic Search Engine Marketing (SEM) management services (sold to Adobe). Prior to Efficient Frontier, Ms. Siminoff spent six years as a founding executive at Yahoo!. During her tenure, she led Business Development (Vice President, Business Development and Planning), Corporate Development (Senior Vice President, Corporate Development) and ran the Small Business and Entertainment Business units. Ms. Siminoff received a BA from Princeton University and an MBA from Stanford University. Ms. Siminoff received a Master Liberal Arts Extension in Software Engineering from Harvard University Extension School in 2023. | | | Additional Public Directorships (current): •Commerce.com, Inc. | | | Other board experience: Among other boards and advisory relationships, she currently serves on the board of Commerce.com, Inc., a leading SAAS ecommerce platform, and the board of Verifone, a privately-held pre-eminent global payments platform. Ms. Siminoff previously served as a member of the board of directors of Zynga Inc. from 2012 to May 2022, when we acquired Zynga. Until April 2022, Ms. Siminoff served on the board of Discovery Education, a global leader in standards-aligned digital curriculum resources and professional learning for K-12 classrooms, and she currently serves on the board of Follett, a privately-held leading provider of educational technology, services, and print and digital content. She has served as a member of the Advisory Board of Stanford University’s Graduate School of Business and served on the President’s Advisory Council of Princeton University. Ms. Siminoff serves on the Board of Overseers at the Hoover Institution as of September 2022. Other prior board experiences include SolarWinds, US Auto Parts Network, Journal Communications, and Mozilla Corporation, the developers of Firefox browsers. In 2005 she was one of eight industry professionals named “Masters of Information” by Forbes magazine. |

  22. PROPOSAL 1: ELECTION OF DIRECTORS

    | Age: 64 Director since: March 2014 INDEPENDENT DIRECTOR Committee Membership(s): •Audit Committee (Chair) •Technology Risk Committee Beneficial owner of 32,122 shares | SUSAN TOLSON | | | Key qualifications and expertise provided to our board: Ms. Tolson brings to the Board of Directors significant experience in entertainment and financial/investment matters from her previous positions, together with her existing current service as a director of both for profit and nonprofit organizations. Ms. Tolson is a financial executive with more than 20 years of experience in the financial services industry. Ms. Tolson worked at Capital Research and Management Company and Capital Research Company, subsidiaries of The Capital Group Companies, Inc., from 1990 to 2010. She served in various capacities, including Senior Vice President and Portfolio Manager. Before joining Capital Research, Ms. Tolson was an Investment Officer at Aetna Investment Management Company, making private investments in media and entertainment companies. Ms. Tolson received a BA from Smith College and an MBA from Harvard Business School. | | | Additional Public Directorships (current): •OUTFRONT Media Inc. | | | Other board experience: Ms. Tolson was a member of the board and audit committee of Worldline E-Payments Services until June 2023; a member of the board and audit committee of Groupe Lagardère until July 2021; a member of the board and audit committee of the American Cinematheque until May 2018; a trustee and member of the business affairs committee of The American University of Paris until 2014; and a member of the board and audit committee of American Media until 2014. |

  23. PROPOSAL 1: ELECTION OF DIRECTORS

    | 14 | TAKE-TWO INTERACTIVE SOFTWARE, INC. | 2026 Proxy Statement |

  24. PROPOSAL 1: ELECTION OF DIRECTORS

    PROPOSAL 1: ELECTION OF DIRECTORS

  25. PROPOSAL 1: ELECTION OF DIRECTORS

    | Age: 67 Director since: May 2018 INDEPENDENT DIRECTOR Committee Membership(s): •Audit Committee Beneficial owner of 92,347 shares | PAUL VIERA | | | Key qualifications and expertise provided to our board: Mr. Viera brings to the Board of Directors proven leadership skills, vast business experience and financial acumen. Mr. Viera is the Founder and Chief Executive Officer of Earnest Partners, a global investment firm responsible for overseeing over $20 billion for municipalities, states, corporations, endowments, and universities. Prior to founding Earnest Partners in 1998, Mr. Viera was a Vice President at Bankers Trust in both New York and London and later joined Invesco, where he became a global partner and senior member of its investment team. Mr. Viera received a BA from the University of Michigan and an MBA from Harvard Business School. | | | Additional Public Directorships (current): •None | | | Other board experience: Mr. Viera serves as a Trustee of the Woodruff Arts Center in Atlanta, Georgia and as a member of its investment committee. He is also a member of the boards of directors of CBH Electronic Research Ltd., the board of directors of DeepCare, the Board of Dean’s Advisors for Harvard Business School, the Council on Foreign Relations, the Carter Center Board of Councilors, the National Center for Human & Civil Rights, and the University of Michigan School of Information External Advisory Board. |

  26. PROPOSAL 1: ELECTION OF DIRECTORS

    | Age: 69 Director since: March 2007 CHAIRMAN AND CEO Committee Membership(s): •Executive Committee Beneficial owner of 1,382,568 shares | STRAUSS ZELNICK | | | Key qualifications and expertise provided to our board: Mr. Zelnick provides the Company’s Board of Directors with valuable insight in organization and management obtained from his experiences, including acting as Executive Chairman and CEO of the Company. Mr. Zelnick has been Chairman of the Company since March 2007, Executive Chairman of the Board of Directors since February 2008 and Chief Executive Officer of the Company since January 2011. Mr. Zelnick also is founder of and a partner in ZMC, a leading media focused private equity firm. Mr. Zelnick serves as Executive Chairman of the Board of Directors and Chief Executive Officer of the Company pursuant to the terms of the Management Agreement between the Company and ZMC. See “Certain Relationships and Related Transactions—Management Agreement.” Mr. Zelnick received a BA from Wesleyan University, a JD from Harvard Law School and an MBA from Harvard Business School. | | | Additional Public Directorships (current): •Starwood Property Trust, Inc. | | | Prior executive roles: Mr. Zelnick served as Executive Chairman of Direct Holdings Worldwide, Inc., the parent company of Time Life and Lillian Vernon, until the company was sold to Reader’s Digest on March 2, 2007. Prior to forming ZMC, Mr. Zelnick was President and Chief Executive Officer of BMG Entertainment, a $4.7 billion music and entertainment company with more than 200 record labels and operations in 54 countries. Mr. Zelnick’s appointment as President and Chief Executive Officer of BMG Entertainment followed his tenure as President and Chief Executive Officer of BMG’s North American business unit from 1994 through 1998. Before joining BMG Entertainment, Mr. Zelnick was President and Chief Executive Officer of Crystal Dynamics, a leading producer and distributor of interactive game software. Prior to that, he spent four years as President and Chief Operating Officer of 20th Century Fox, where he managed all aspects of its worldwide motion picture and distribution business. Previously, he spent three years at Vestron Inc. as a senior executive, and rose to become President and Chief Operating Officer. Mr. Zelnick also served as Vice President, International Television Sales, for Columbia Pictures. | | | Other board experience: Mr. Zelnick serves as a member of the board of directors of the Entertainment Software Association, for which he served as Chairman from July 2014 to July 2017, and currently serves as Chairman since December 2025. From September 2018 to December 2019, Mr. Zelnick served on the board of ViacomCBS Inc. (formerly known as CBS Corporation), a public company, and as a member of its compensation committee and nominating and governance committee. He also served as the non-executive interim chairman of the CBS board from October 2018 until December 2019. Mr. Zelnick is also an associate member of the National Academy of Recording Arts and Sciences and served on the board of directors of the Recording Industry Association of America and the Motion Picture Association of America. |

  27. PROPOSAL 1: ELECTION OF DIRECTORS

    | TAKE-TWO INTERACTIVE SOFTWARE, INC. | 2026 Proxy Statement | 15 |

  28. PROPOSAL 1: ELECTION OF DIRECTORS

    PROPOSAL 1: ELECTION OF DIRECTORS

  29. Shareholder Engagement

    Shareholder Engagement We maintain a robust year-round shareholder outreach program that fosters ongoing, two-way dialogue on topics our shareholders find most important. Our Board members regularly participate in these critically important conversations, covering a diverse range of topics, including board, governance, sustainability and executive compensation. At our 2025 annual meeting of shareholders, we were pleased that our Say-on-Pay proposal received 95% support reflecting our extensive outreach efforts and responsiveness to shareholder feedback. Since the 2025 Annual Meeting, we have sought discussions with holders representing more than 55% of our outstanding shares and have met with all investors who expressed an interest in engaging with us, representing nearly one-third of our outstanding shares. Members of our Board of Directors actively participated in meetings with shareholders holding over one-quarter of our outstanding shares. Shareholders continued overwhelmingly to express support for our compensation program. Consistent with prior feedback, shareholders viewed favorably the increased rigor and disclosure of goal setting within our annual cash incentive program, the increased weighting of performance-based equity as part of our long-term incentive program, and the adoption of longer performance and vesting periods for equity awards. These enhancements were implemented in response to prior shareholder input and incorporated into a management agreement (the “2022 Management Agreement”) with ZMC, which became effective for the fiscal year ended March 31, 2023 (“fiscal 2023”). Investors also responded positively to the formation of our Technology Risk Committee, which oversees key emerging technology risks and opportunities, including cybersecurity and AI, and reports its findings to the full Board. In addition, conversations surrounding our Human Capital Management policies were constructive and reflected continued support for our approach to talent management.

  30. EXECUTIVE SUMMARY

    The key topics discussed during shareholder engagement activities following our 2025 Annual Meeting included: •Compensation Practices: Shareholders remained pleased to see compensation program changes made in the past few years, including enhanced performance goal rigor, longer performance and vesting periods for equity awards, a greater emphasis on performance-based compensation, and expanded compensation-related disclosure. •Board Composition and Governance: Shareholders discussed Board composition, tenure, refreshment, and emerging skill sets. Investors responded favorably to the addition of an individualized Board skills matrix and accompanying disclosures regarding the relevance of each skill represented on the Board. (see Page 15). •Succession Planning and Board Refreshment. Shareholders discussed the Company’s approach to leadership succession and Board refreshment, including the Board’s rotation of leadership and committee roles to balance new perspectives with the institutional knowledge of directors who have served through the evolution of the interactive entertainment industry. This included the appointment of a new Lead Independent Director in 2023, the appointment of Roland Hernandez as the new Corporate Governance Committee Chair in 2025, and the appointment of J Moses to lead our new Technology Risk Committee. •Artificial Intelligence and Technology Oversight. Shareholders expressed interest in the Company’s approach to AI, including governance, oversight, and current and potential future applications across our business. Shareholders also responded positively to the formation of the new Technology Risk Committee in October 2025, reflecting the growing importance of emerging technology oversight in our industry and the importance of technology to our business as an interactive entertainment company. We discussed management’s oversight of AI implementation, as well as the new Technology Risk Committee's role in monitoring AI-related risks and opportunities. We also emphasized our belief that AI can enhance the capabilities and productivity of our workforce while complementing human creativity. •Sustainability Topics. Shareholders discussed the Company’s approach to sustainability topics, including Human Capital Management, and recognized the importance of our attracting, retaining and motivating key talent. Investors also highlighted the value of the Company’s broad-based equity compensation program in supporting these objectives for the Company’s creative talent.

  31. Fiscal 2026 Variable Compensation Targets and Performance Achievement

    | | Financial Performance Metrics | 2026 Performance Threshold | 2026 Performance Target | 2026 Performance Maximum | | Annual Incentive | Adjusted EBITDA | | | | | Performance-Based RSUs (Fiscal 2026 Grant) | Relative TSR RCS | | | | | | | * Relative TSR and RCS metrics are measured over the three-year period ending March 31, 2028. | | |

  32. Annual Incentive Plan Target Setting

    Annual Incentive Plan Target Setting Our Compensation Committee establishes the annual cash incentive based solely on performance against a budgeted Adjusted EBITDA* goal set at the beginning of each fiscal year. Adjusted EBITDA is an objective measure that focuses our executives on operating growth and profitability, which the Committee believes is key to shareholder value creation. There is no discretionary element to this goal. In setting an Adjusted EBITDA target, the Board of Directors works closely with management as part of an iterative process to set the budget and determine an appropriate target that aligns with the Company’s goals and objectives for the upcoming fiscal year. The Board of Directors is guided by a philosophy to set rigorous, yet achievable goals that contain appropriate stretch targets to motivate outperformance. The factors considered in determining the appropriate annual Adjusted EBITDA target include the Company’s projected annual release schedule, whether the releases are new IP or iterations of established IP, the Company’s expected investment in future research and development, and an analysis of the risks and opportunities for the upcoming fiscal year. Because release schedules, investment amounts, and expected risks and opportunities differ year over year, a rigorous target that provides an appropriate incentive for the Company’s executives will vary from year to year. In setting our fiscal 2026 Adjusted EBITDA targets, the Board of Directors specifically considered, among other factors: •Our expected product releases, including the expected timing of releases; •Our efforts to grow our mobile portfolio; •The market conditions for our industry; and •Our plan to build scale through organic initiatives. As a result of these considerations, the fiscal 2026 Adjusted EBITDA target was set at a level above the actual Adjusted EBITDA achieved in the fiscal year ended March 31, 2025 (“fiscal 2025”). *Adjusted EBITDA is a non-GAAP measure, which is defined as GAAP net income (loss) excluding the change in deferred net revenue and related cost of revenue, stock-based compensation, business reorganization, interest expense (income), depreciation and amortization, amortization and impairment of intangible assets, bonus, income taxes, fair value adjustments related to certain equity investments and acquisition-related costs. Refer to Annex A herein for a reconciliation of GAAP net income to the Adjusted EBITDA measure discussed above.

  33. Annual Incentive Plan Target Setting

    | TAKE-TWO INTERACTIVE SOFTWARE, INC. | 2026 Proxy Statement | 31 |

  34. Annual Incentive Plan Achievement

    Annual Incentive Plan Achievement Target Adjusted EBITDA for fiscal 2026 was $919.5 million and the Company achieved actual Adjusted EBITDA of $1,401.6 million. Our achievement was driven by: •Overperformance of our expectations by NBA 2K; •Overperformance of our expectations by our mobile business; and •Better than expected performance by GTA Online and GTA V.

  35. ZMC Management Agreement

    | ZMC Management Agreement Enhancements | | | | | Structural Element | 2017 Management Agreement | | 2022 Management Agreement | | Percentage of at-risk compensation at max (across both Annual Incentive and LTI awards) | 71% | | 80%(1) | | Proportion of performance-based equity at target | 55% | | 67% | | Measurement and vesting period of performance-based equity awards | Two years | | Three years | | Vesting period of time-based equity | Two-year cliff vesting | | Three-year ratable vesting | | Percentage of performance-based equity tied to Relative TSR, RCS and IP metrics | 75% Relative TSR 12.5% RCS 12.5% IP | | 75% Relative TSR 25% RCS | | Relative TSR Peer Group | Nasdaq Composite Index | | Nasdaq-100 Index | | Rigorous Relative TSR Thresholds | 40th percentile minimum 50th percentile target 75th percentile or above maximum | | Same | | Increased Transparency | 60% cap on fees paid by ZMC to Mr. Zelnick 40% cap on fees paid by ZMC to Mr. Slatoff | | Same |

  36. NEO Compensation Structure and Pay-for-Performance Principles

    NEO Compensation Structure and Pay-for-Performance Principles The Compensation Committee has developed compensation programs and arrangements designed to place a substantial portion of our executives’ compensation at risk based on Company performance. Equity awards are a key element in the compensation of our executives, as well as creative talent throughout the organization, given the strong linkage equity awards create between our executives and the long-term performance of our Company as well as the interests of our shareholders. In fiscal 2026, based on feedback received from shareholders, the Compensation Committee continued to structure ZMC’s annual equity grant (i) to maintain 67% weighting on performance awards, ensuring that a significant portion of such equity awards remained “at risk,” and (ii) to continue to have 25% of the vesting criteria for such performance awards subject to the RCS performance metric. Also based on feedback from shareholders, the Compensation Committee (i) continued to include the RCS performance metric in the annual equity grant to our non-ZMC NEOs (comprising 25% of the performance awards), and (ii) maintained the three-year performance period for the performance awards issuable to all our NEOs to ensure continued alignment with long-term shareholder value.

  37. Compensation to All NEOs

    Compensation to All NEOs We believe our short-term and long-term incentives are balanced to help incentivize optimal performance and also note that there is no duplication in use of performance metrics between short-term and long-term programs. In fiscal 2026, our NEO compensation program consisted of three primary components: an annual management fee (for ZMC executives) or base salary (for our non-ZMC NEOs), an annual incentive opportunity, and long-term incentive awards. The majority of target compensation was performance-based and weighted toward long-term incentives. The following table summarizes such compensation components for our NEOs in fiscal 2026:

  38. Compensation to All NEOs

    | Compensation Component | % Linked to Performance | Delivery From | Performance Link | Performance Measurement/ Vesting Period | | Annual Management Fee / Annual Base Salary | — | Cash | — | — | | Annual Incentive | 100% | Cash | Adjusted EBITDA | 1 year | | Long-Term Incentive (Equity Grants) | 67% at target 80% at maximum | Performance- Based Awards | 75%: Relative TSR Performance 25%: Recurrent Consumer Spending Performance | 3-year measurement period 3-year cliff vest | | | | Time-Based Awards | — | 3-year ratable vesting for ZMC executives 4-year ratable vesting for non-ZMC NEOs |

  39. Highlights of Compensation Governance Practices

    | | Clawback policy applicable to NEOs, including ZMC | | | Incentive caps on annual bonuses to NEOs | | | Strong anti-hedging and anti-pledging policies | | | Double-trigger acceleration of vesting on a change in control | | | Meaningful stock ownership requirements (6x per annum management fee, excluding any bonuses, for each of CEO/Chairman and President; 3x annual base salary for other NEOs; and 5x annual cash retainer for directors) |

  40. Highlights of Compensation Governance Practices

    | | Equity incentive plan provisions that prohibit re-pricing of stock options without shareholder approval | | | Limited perquisites | | | No tax gross ups in respect of any excise taxes on parachute payments | | | Annual compensation risk assessment for employee plans | | | Retention of independent compensation consultants by the Compensation Committee | | | Balanced compensation approach between short-and long-term incentive opportunities |

  41. I. Objectives and Philosophy of Executive Compensation

    | | Enhance the profitability of the Company and drive shareholder value creation; | | | Link a substantial portion of compensation to the Company’s long-term financial and stock price performance, thereby creating long-term shareholder value; | | | Attract, motivate, and retain highly qualified individuals; |

  42. II. Competitive Market Positioning

    II. Competitive Market Positioning The Compensation Committee determines pay levels for our NEOs based on a number of factors, including the individual’s role and responsibilities within the Company, the individual’s experience and expertise, historical compensation actually realized by the individual, pay levels in the marketplace for similar positions, and performance of the individual and the Company as a whole. In determining pay levels, the Compensation Committee considers all forms of compensation and benefits, including the mix thereof. After consideration of data collected on external competitive levels of compensation and internal relationships within the executive group, the Compensation Committee makes decisions regarding each individual NEO’s target total compensation opportunity based on the need to attract, motivate and retain an experienced and effective management team.

  43. Fiscal 2026 Peer Group

    Fiscal 2026 Peer Group Each year, the Compensation Committee, with the assistance of its independent compensation consultant, Frederic W. Cook & Co., Inc. (“FW Cook”), reviews and approves a peer group that is used to provide relevant market context for the Committee’s decisions. In doing so, the Compensation Committee seeks to approve a peer group that is representative of the sector in which we operate and includes companies with similar revenue and market capitalization as Take-Two. For fiscal 2026, the Compensation Committee approved a peer group of 18 companies. The Committee removed Peloton Interactive, Inc., due to its declining revenues and market capitalization (small size), and added Live Nation Entertainment Inc., TKO Group Holdings Inc. and Warner Bros. Discovery, Inc. These additions were selected based on their relevance as leading media and entertainment content producers and distributors and their comparability to Take-Two on key size measures, including revenue and market capitalization.

  44. Fiscal 2026 Peer Group

    | TAKE-TWO INTERACTIVE SOFTWARE, INC. | 2026 Proxy Statement | 35 |

  45. DETAILED DISCUSSION AND ANALYSIS

    *Added to peer group for fiscal 2026 The Compensation Committee believes the peer group represents the most relevant set of publicly-traded companies for executive compensation benchmarking purposes. However, Take-Two has a limited number of direct public-company peers within the videogame industry, as many competitors are privately held or incorporated in foreign jurisdictions that do not require public disclosure of executive compensation information. This dynamic creates added challenges in constructing a statistically reliable peer group and requires the Company to include its limited number of direct competitors while also broadening the peer universe to encompass internet and technology, media and entertainment, and leisure companies with which we compete for executive talent. While imperfect, the Compensation Committee believes the resulting peer group is representative of the markets in which the Company operates and provides an appropriate a balance of companies with similar revenue (generally one-third to three times that of Take-Two) and market capitalization (generally one-quarter to four times that of Take-Two). For fiscal 2027, as part of its annual review process, the Compensation Committee, with the assistance of FW Cook, reviewed the peer group in April 2026 and determined that no changes were warranted given the continued reasonableness of the existing 18-company group.

  46. DETAILED DISCUSSION AND ANALYSIS

    | •Increased emphasis on performance-based compensation. Performance-based compensation has continued to be 80% at maximum achievement for fiscal 2026, and performance-based shares continued to be 67% of total equity grant, up from 55% under the prior agreement. •Longer-term performance measurement and vesting periods. The performance measurement periods for both RCS and relative TSR were lengthened from two years to three years, and time-based equity awards were lengthened from two-year cliff vesting to ratable vesting over three years. •Enhanced focus on recurrent consumer spending metric, which is generated from ongoing consumer engagement and includes revenue from virtual currency, add-on content, and in-game purchases, continues to focus executives’ attention on achieving key strategic goals. The weighting of the RCS metric increased from 12.5% to 25% of performance-based equity grants. The Compensation Committee believes RCS is an important measure of the performance of the Company’s mobile business and key franchises, including NBA 2K and Grand Theft Auto Online, and supports the Company’s objective of delivering more consistent long-term growth. The remaining 75% of performance-based equity awards continue to vest based on relative TSR performance. •More rigorous relative TSR design. The relative TSR comparator group was updated from the Nasdaq Composite Index to the Nasdaq-100 Index, while maintaining rigorous vesting thresholds, including a minimum performance requirement at the 40th percentile before any of the TSR shares began to vest, target performance of 50th percentile, and maximum performance at the 75th percentile relative performance. The relative TSR performance payout schedule reflects the Board of Directors’ continued commitment to a strong pay for performance approach with rigorous multi-year goal setting that in most cases exceeds minimum performance thresholds in place among our compensation peers. •Increased disclosure. Enhanced transparency, including disclosure of individual fee caps paid by ZMC to Messrs. Zelnick and Slatoff for their services to Take-Two. •No TSR “catch-up” provision. Performance-based equity grants are based solely on relative TSR and RCS performance and do not include a TSR “catch-up” feature. •No automatic annual fee increases. The Management Agreement does not provide for automatic increases to the annual fee. •Continued annual grant structure. Agreements prior to the 2017 Management Agreement included an up-front equity grant at the commencement of the agreement. The 2022 Management Agreement, like the 2017 Management Agreement, provides for annual equity grants rather than a large up-front equity award, with future grants subject to Compensation Committee approval. |

  47. Fiscal 2026 Fees and Incentives to ZMC

    Fiscal 2026 Fees and Incentives to ZMC During fiscal 2026, and in accordance with the 2022 Management Agreement, ZMC received an annual management fee, was eligible to earn an annual performance-based incentive tied to an objective Company performance measure, and received a long-term incentive equity grant consisting of both performance-based and time-based vesting RSUs. Compensation to ZMC in fiscal 2026 under the 2022 Management Agreement is summarized below:

  48. Fiscal 2026 Fees and Incentives to ZMC

    | Annual Management Fee | Annual Incentive Compensation | Performance- Based RSUs | Time-Based RSUs | Total Compensation | | $3,300,000(1) | $13,200,000(2) | $33,713,060(3) | $16,604,940(4) | $66,818,000 |

  49. Fiscal 2026 Fees and Incentives to ZMC

    (1)Fixed annual fee per the 2022 Management Agreement. (2)Adjusted EBITDA achieved in fiscal 2026 was approximately 152.4% of the budgeted target. As a result, ZMC earned the maximum annual incentive for fiscal 2026. The table below describes the payout schedule for the annual incentive opportunity, with proration on a straight-line basis between the amounts listed:

  50. Fiscal 2026 Fees and Incentives to ZMC

    | Percentage of Adjusted EBITDA Target Obtained | Amount of Annual Bonus | | 80% or less | $0 | | 90% | $3,300,000 | | 100% | $6,600,000 | | 110% | $8,014,286 | | 120% | $9,428,572 | | 130% | $10,685,714 | | 140% | $11,942,858 | | 150% | $13,200,000 | | Above 150% | $13,200,000 |

  51. Fiscal 2026 Fees and Incentives to ZMC

    (3)Represents the planning value of the grant made on June 2, 2025. Amount reported assumes that target TSR and Recurrent Consumer Spending performance achievement is met, resulting in the vesting of 149,477 RSUs. If the maximum performance achievement is met, 298,954 RSUs would vest. Relative TSR performance-based vesting is a function of the Company’s TSR during the performance period, which commenced on June 1, 2025 and ends on March 31, 2028 (which is the end of the third fiscal year during such period), as compared to the TSR generated by the companies that comprise the Nasdaq 100 Index on the first day of the performance period. We use the Nasdaq 100 Index for this purpose, rather than a narrow peer group, given the small size of our public company compensation peer group and the stock price volatility of those peers. The table below describes the vesting schedule for the performance-based equity based on achievement of relative TSR over such performance period, with proration on a straight-line basis between the amounts listed:

  52. DETAILED DISCUSSION AND ANALYSIS

    DETAILED DISCUSSION AND ANALYSIS Recurrent Consumer Spending performance-based vesting is determined by comparing the following two measurements and using the measurement that results in the greatest number of RSUs vesting: (i) the percentage change between the Recurrent Consumer Spending for the base fiscal year (which is the fiscal year prior to the fiscal year in which the grant was made) and the three-year average Recurrent Consumer Spending for the three fiscal years following the base fiscal year (“Absolute Recurrent Consumer Spending Growth”) and (ii) the three-year average Recurrent Consumer Spending for the three fiscal years following the base fiscal year as a percentage of the three-year average total net bookings for the same period (“Relative Recurrent Consumer Spending”). Recurrent Consumer Spending is defined as the consolidated net bookings generated by the Company that are supplemental to the sale of any full game release from the sale of virtual currency, add-on content, in-game purchases and similar items, calculated on a basis consistent with how the Company calculates recurrent consumer spending for its management reporting. The table below describes the vesting schedule for the Recurrent Consumer Spending performance-based shares with proration on a straight line basis between the amounts listed (with the measurement that results in the greatest number of RSUs vesting being determinative):

  53. For illustrative purposes only, the table below assumes that ZMC allocated the maximum permitted compensation

    | | Minimum | Target | Maximum | | | •≤80% Adjusted EBITDA Goal •<40th Percentile Relative TSR •Less than Min Recurrent Consumer Spending Goal | •100% Adjusted EBITDA Goal •50th Percentile Relative TSR •Target Recurrent Consumer Spending Goal | •≥150% Adjusted EBITDA Goal •≥75th Percentile Relative TSR •Max Recurrent Consumer Spending Goal | | Annual Management Fee | $3,300,000 | $3,300,000 | $3,300,000 | | Annual Incentive Metric: Adjusted EBITDA | $0 | $6,600,000 | $13,200,000 | | Time-Based RSUs(1) | $16,604,940 | $16,604,940 | $16,604,940 | | Performance-Based RSUs Metrics: TSR and Recurrent Consumer Spending Performance(1) | $0 | $33,713,060 | $67,426,120 | | Total Compensation Opportunity | $19,904,940 | $60,218,000 | $100,531,060 | | Maximum Opportunity at Each Performance Level | | | |

  54. For illustrative purposes only, the table below assumes that ZMC allocated the maximum permitted compensation

    (1)For purposes of this illustrative table, includes the planning values for the performance-based and time-based RSUs granted to ZMC in June 2025. The targets set by the Board of Directors have been sufficiently challenging as illustrated by the varied payouts to ZMC under the Annual Incentive Plan and Performance Equity Awards over the last several years:

  55. For illustrative purposes only, the table below assumes that ZMC allocated the maximum permitted compensation

    | Annual Incentive Plan Achievement | | | | Fiscal Year | Adjusted EBITDA Achievement (% of target) | Annual Incentive Plan Payout | | 2026 | 152.4% | Maximum cash bonus | | 2025 | 99.9% | Slightly less than target cash bonus | | 2024 | 88.6% | Less than target cash bonus | | 2023 | 79.2% | No cash bonus | | 2022 | 139.8% | Less than maximum cash bonus |

  56. DETAILED DISCUSSION AND ANALYSIS

    (1)The Company’s relative TSR achievement for the awards that vested in fiscal 2026 was the 78th percentile, which resulted in the maximum vesting percentage for the TSR performance-based RSUs, (i.e. 200% of target), and no shares being forfeited. The Company’s RCS achievement for the awards that vested in fiscal 2026 was in excess of the maximum goal, which resulted in the maximum vesting percentage for the RCS performance-based RSUs (i.e., 200% of target), and no shares being forfeited. Additionally, the compensation received by ZMC and the other NEOs is strongly aligned with the Company’s TSR performance. The Company has consistently delivered TSR performance sufficient to earn vesting of TSR-based awards, including top- quartile performance for the periods ended March 31, 2021 and March 31, 2025, and above 50th percentile performance for the periods ended March 31, 2022, March 31, 2023, March 31, 2024, and March 31, 2026.

  57. Compensation Overview

    | | Base Salary | Target Annual Cash Bonus Opportunity (based on Adjusted EBITDA) | | Target Equity Incentive Opportunity (66.7% subject to performance vesting) | | Ms. Goldstein | $1,000,000 | $1,500,000 | (150% of base salary) | $6,120,000 | | Mr. Emerson | $850,000 | $1,062,500 | (125% of base salary) | $4,200,000 |

  58. Pay Elements—Overview

    | Direct Compensation Elements | Indirect Compensation Elements | | Base Salary | Other Compensation/Employee Benefits | | Annual Cash Incentive | Severance and Change in Control Protection | | Long-Term Equity Incentives | |

  59. Base Salary

    Base Salary Base salary is intended to provide fixed pay that considers an NEO’s role and responsibilities, experience, expertise, marketplace comparables and individual performance, and although established by the NEOs’ employment agreements, is subject to annual review by the Compensation Committee, including for discretionary year-to-year increases. Ms. Goldstein’s base salary was set at $1,000,000 in fiscal 2023 based on Ms. Goldstein’s strong individual performance and value to the organization as a key senior leader and peer benchmarking. Ms. Goldstein’s base salary remained the same for fiscal 2024, fiscal 2025 and fiscal 2026 and remains the same for fiscal 2027. Mr. Emerson’s base salary was set at $850,000 in fiscal 2023 based on Mr. Emerson’s strong individual performance and value to the organization as a key senior leader and peer benchmarking. Mr. Emerson’s base salary remained the same for fiscal 2024, fiscal 2025 and fiscal 2026 and remains the same for fiscal 2027.

  60. Annual Cash Incentive

    Annual Cash Incentive The Compensation Committee has the authority to award annual performance-based cash bonuses to the NEOs pursuant to their employment agreements with the Company. The Compensation Committee believes that an annual performance-based bonus opportunity provides the incentives necessary to retain our NEOs and reward them for their attainment of the Company’s business goals. Annual bonus awards for Ms. Goldstein and Mr. Emerson are 100% performance-based and solely dependent on achievement of budgeted Adjusted EBITDA targets for the applicable fiscal year, which are predetermined at the beginning of the applicable fiscal year. The Compensation Committee believes that using budgeted Adjusted EBITDA as the core performance metric in the annual bonus design represents an appropriate measure of the Company’s performance and an appropriate way to align NEOs’ short-term incentives with our shareholders’ interests. For a description of the Board’s target-setting process as well as disclosure regarding how we fared against that target please see the above sections titled “Annual Incentive Plan Target Setting” and “Annual Incentive Plan Achievement” on page 31. Bonus amounts for Ms. Goldstein and Mr. Emerson in fiscal 2026 were a function of Adjusted EBITDA relative to target, as set forth in the following table:

  61. Annual Cash Incentive

    | Adjusted EBITDA Achievement | Annual Bonus for Ms. Goldstein and Mr. Emerson | | Less than 80% of the budget | No bonus earned | | 80% - 100% of the budget | 36%-100% of target | | 100% - 120% of the budget | 100%-140% of target | | 120% - 150% of the budget | 140%-200% of target | | Greater than 150% of the budget | Capped at 200% of target |

  62. Annual Cash Incentive

    | 42 | TAKE-TWO INTERACTIVE SOFTWARE, INC. | 2026 Proxy Statement |

  63. DETAILED DISCUSSION AND ANALYSIS

    | | Annual Salary | Threshold Bonus | Target Bonus | Maximum Bonus | | Ms. Goldstein | $1,000,000 | | | | | Mr. Emerson | $850,000 | | | |

  64. Long-Term Equity Incentives

    Long-Term Equity Incentives Equity is an essential tool for attracting and retaining the creative and technical talent that drives our business. Our creative teams are critical to our continued success, and equity awards help align their interests as well as those of our NEOs and other key employees, with long-term shareholder value creation. The Compensation Committee regularly evaluates the use of equity awards and expects to continue using such awards as a core element of the Company’s compensation program. Equity awards are generally granted to new key employees in the a month basis following the commencement of employment and to existing key employees on an annual basis. All equity grants made to employees, including the NEOs, are approved by the Compensation Committee. The current outstanding awards granted to our NEOs are governed by the Company’s 2017 Stock Incentive Plan, as amended and restated (the “2017 Plan”), which is discussed further in “Executive Compensation—Narrative Disclosure Regarding Equity Plans and Employment Agreements.” The Company generally uses a mix of performance-based and time-based vesting for NEO long-term equity awards to achieve distinct purposes. Performance-based vesting awards align executive incentives with shareholder outcomes and long-term value creation, while time-based vesting awards emphasize the retention of skilled executives.

  65. NEO Long-Term Incentives Awarded in Fiscal 2026

    NEO Long-Term Incentives Awarded in Fiscal 2026 The Compensation Committee approved the following RSU awards for Ms. Goldstein and Mr. Emerson, which were granted in June 2025:

  66. NEO Long-Term Incentives Awarded in Fiscal 2026

    | | Time-Based RSUs (#)(2) | Time-Based RSUs ($)(1) | Performance- Based RSUs (#) (at target)(2) | Performance- Based RSUs ($) (at target)(1) | Performance- Based RSUs (#) (at max)(2) | Performance- Based RSUs ($) (at max)(1) | | Ms. Goldstein | 9,045 | $2,040,000 | 18,089 | $4,080,000 | 36,178 | $8,160,000 | | Mr. Emerson | 6,207 | $1,400,000 | 12,414 | $2,800,000 | 24,828 | $5,600,000 |

  67. NEO Long-Term Incentives Awarded in Fiscal 2026

    (1)As the aggregate grant date fair values of the shares displayed in the Summary Compensation Table for fiscal 2026 and the Grants of Plan-Based Awards table later in this Proxy Statement are computed in accordance with US GAAP, the values in those tables differ from the planning values displayed in the table above. (2)The number of RSUs included in each of the above grants was determined by dividing the grant value (which was based in part on peer benchmarking) by the average of the closing prices of the Company’s common stock on the 30 trading days immediately prior to June 1, 2025.

  68. NEO Long-Term Incentives Awarded in Fiscal 2026

    | TAKE-TWO INTERACTIVE SOFTWARE, INC. | 2026 Proxy Statement | 43 |

  69. DETAILED DISCUSSION AND ANALYSIS

    DETAILED DISCUSSION AND ANALYSIS The Compensation Committee made the fiscal 2026 grants in the form of RSUs, rather than restricted stock, in order to preserve flexibility to settle the awards in stock, cash or a combination of stock and cash. A portion of these RSUs, equal to 33.3% of the value at target, are time-based RSUs and cliff vest 25% on the first anniversary of the grant date, and then vest in 12 quarterly installments thereafter. The remaining portion of these RSUs, equal to 66.7% of the value at target, are performance-based RSUs that cliff vest 100% on June 1, 2028, subject to satisfaction of TSR and RCS performance criteria during the vesting period, equivalent to the TSR and RCS performance based criteria in ZMC’s performance-based awards. For a more detailed description of the TSR and RCS performance criteria, see “Compensation Discussion and Analysis—Detailed Discussion and Analysis—Fiscal 2026 Fees and Incentives to ZMC” of this Proxy Statement. For fiscal 2026, the Compensation Committee decided to continue to include RCS based performance vesting in awards granted to our non-ZMC NEOs in the same proportion as awards granted to ZMC. The Committee believes that emphasizing RCS growth supports the Company’s objective of delivering sustained year-over-year growth and that the metric represents an important indicator of the performance of our mobile business and several of our key console-based franchises (including NBA 2K and Grand Theft Auto Online), all of which are strategic priorities for the Company.

  70. NEO Long-Term Incentive Awards Vested in Fiscal 2026

    NEO Long-Term Incentive Awards Vested in Fiscal 2026 The results and payout levels for the performance-based RSUs granted to Ms. Goldstein and Mr. Emerson prior to fiscal 2026 that vested, or failed to vest, in fiscal 2026, are as follows:

  71. NEO Long-Term Incentive Awards Vested in Fiscal 2026

    | | Performance-Based RSUs Vested (#) | Performance-Based RSUs Forfeited (#) | | Ms. Goldstein | 66,700(1) | —(3) | | Mr. Emerson | 45,774(2) | —(3) |

  72. NEO Long-Term Incentive Awards Vested in Fiscal 2026

    (1)Represents 66,700 performance-based RSUs originally granted on June 1, 2022, which vested on May 30, 2025 as a result of maximum performance criteria achievement. (2)Represents 45,774 performance-based RSUs originally granted on June 1, 2022, which vested on May 30, 2025 as a result of maximum performance criteria achievement. (3)The performance-based RSUs that vested in fiscal 2026 included only relative TSR performance-based vesting, and the Company’s relative TSR achievement for the awards that vested in fiscal 2026 was the 78th percentile, which resulted in the maximum vesting percentage for the performance-based RSUs (i.e. 200% of target), and no shares being forfeited. Additionally, the compensation received by the NEOs is closely aligned with the Company’s TSR performance. As described earlier in the CD&A, the Company has delivered strong relative TSR performance across multiple measurement periods, including top-quartile performance in certain periods, which is reflected in the vesting of TSR-based equity awards. For a description of the results and payout levels for performance-based RSUs previously granted to ZMC that vested, or failed to vest, in fiscal 2026, see “Certain Relationships and Related Transactions—Management Agreement.”

  73. NEO Long-Term Incentives Awarded in Fiscal 2027

    NEO Long-Term Incentives Awarded in Fiscal 2027 In May 2026, the Compensation Committee approved the following fiscal 2027 RSU awards for Ms. Goldstein and Mr. Emerson:

  74. NEO Long-Term Incentives Awarded in Fiscal 2027

    | | Time-Based RSUs (#) | Time-Based RSUs ($)(1) | Performance- Based RSUs (#) (at target)(2) | Performance- Based RSUs ($) (at target)(1) | Performance- Based RSUs (#) (at max)(2) | Performance- Based RSUs ($) (at max)(1) | | Ms. Goldstein | 11,427 | $2,550,000 | 22,854 | $5,100,000 | 45,708 | $10,200,000 | | Mr. Emerson | 7,618 | $1,700,000 | 15,236 | $3,400,000 | 30,472 | $6,800,000 |

  75. NEO Long-Term Incentives Awarded in Fiscal 2027

    (1)As the aggregate grant date fair values of these awards that will be displayed in the Summary Compensation Table and the Grants of Plan-Based Awards table in our Proxy Statement for the 2027 Annual Meeting of Shareholders will be computed in accordance with US GAAP, the values in those tables may differ from the values displayed in the table above. (2)For these grants made in fiscal 2027, the Compensation Committee decided to continue to link 75% to relative TSR performance and 25% to RCS performance, which aligns with the performance vesting criteria in the RSU grants made to ZMC. The number of RSUs included in each of the above grants was determined by dividing the grant value (which was based in part on peer benchmarking) by the average of the closing prices of the Company’s common stock on the 30 trading days immediately prior to June 1, 2026.

  76. NEO Long-Term Incentives Awarded in Fiscal 2027

    | 44 | TAKE-TWO INTERACTIVE SOFTWARE, INC. | 2026 Proxy Statement |

  77. DETAILED DISCUSSION AND ANALYSIS

    DETAILED DISCUSSION AND ANALYSIS After reviewing the annual assessment of Ms. Goldstein and Mr. Emerson’s compensation relative to their respective peer groups by our independent compensation consultant, the Committee approved an increase to the annual fiscal 2027 equity grant for each of Ms. Goldstein and Mr. Emerson from what they were granted in fiscal 2026 to ensure that their compensation remained competitive with market. SEC regulations generally require that the grant date fair value of equity awards be disclosed in the Summary Compensation Table for the year in which the equity awards were granted, not the year to which the services relate. As a result, the grant date value for equity grants made in June 2025 are shown in the Summary Compensation Table on page 49, and the grant date value for the equity grants made in June 2026 will be reflected in the Summary Compensation Table in our Proxy Statement for the 2027 Annual Meeting of Shareholders.

  78. Nonqualified Deferred Compensation Plan

    Nonqualified Deferred Compensation Plan Effective September 1, 2025, we maintain the Take-Two Interactive Software, Inc. Deferred Compensation Plan (the "DCP"), a nonqualified deferred compensation plan. The DCP is available to eligible U.S.-based employees of the Company and its participating subsidiaries, including our NEOs (other than Messrs. Zelnick and Slatoff), as well as non-employee members of the Board of Directors selected by the Company. Under the DCP, eligible employee participants may elect to defer up to 50% of base salary and up to 90% of annual cash bonus awards under the applicable annual incentive plan. Eligible non-employee directors may elect to defer up to 100% of their board cash retainer and meeting fees paid in cash. The Company does not make matching contributions under the DCP but may, in its sole discretion, make other employer contributions on behalf of selected participants. Participant deferrals are 100% vested at all times. Any discretionary employer contributions vest in accordance with a schedule determined by the Company at the time of contribution, subject to automatic full vesting upon death, disability or a change in control. The investment options available under the DCP are similar to those available under the Company's 401(k) plan and do not provide above-market or preferential rates of return. Participants may change their investment elections on any business day on which the New York Stock Exchange is open. We have established a revocable grantor trust to fund benefits under the DCP; however, trust assets remain subject to the claims of the Company's general creditors in the event of insolvency. Participants make elections under the DCP with regard to distributions, including a lump sum or annual installments over two to five years upon a specified date, or a lump sum or annual installments over two to ten years upon separation from service (with payment commencing six months following separation from service). Distributions upon death, disability or a change in control of the Company are paid automatically as a lump sum. Distributions triggered by separation from service are subject to a six-month delay. See “Nonqualified Deferred Compensation for Fiscal 2026” for more details.

  79. Severance and Change in Control Benefits

    Severance and Change in Control Benefits

  80. Severance and Change in Control Benefits for ZMC

    Severance and Change in Control Benefits for ZMC Pursuant to the Management Agreement, ZMC would receive the following cash payments and benefits upon a termination by the Company without “cause” or by ZMC for “good reason” (whether before or after a change in control) (as such terms are defined in the Management Agreement): (i) the earned but unpaid portion of the management fee, (ii) any accrued but unpaid annual bonus for a completed fiscal year, and (iii) three times the sum of the per annum management fee plus the target bonus amount. In addition, the Management Agreement provides for certain accelerated vesting of outstanding and unvested equity awards upon such a termination. See “Certain Relationships and Related Transactions—Management Agreement” for more details. The cash payments described above remain consistent whether the termination occurs before or after a change in control, so ZMC is not entitled to receive any enhanced cash payments in connection with a change in control. With respect to vesting of equity awards in connection with a change in control, the Management Agreement provides for “double-trigger” vesting (that is, they require both a change in control of the Company plus a qualifying termination before payments and benefits are paid). Accordingly, if a change in control occurs during the term of the Management Agreement, outstanding and unvested equity awards will continue to vest (and performance-based RSUs will continue to vest at target levels) in accordance with the original vesting schedule, subject to earlier vesting upon a termination of the Management Agreement without cause or for good reason.

  81. Severance and Change in Control Benefits for Other NEOs

    Severance and Change in Control Benefits for Other NEOs In March 2008, the Compensation Committee approved the Take-Two Interactive Software, Inc. Change in Control Employee Severance Plan (the “CIC Severance Plan”), a change in control plan pursuant to which certain eligible employees, including the NEOs other than Messrs. Zelnick and Slatoff, may receive certain “double-trigger” cash severance benefits upon a termination of employment either by the Company without “cause” or voluntarily for “good reason” (as such terms are defined in the CIC Severance Plan), in either case during the 12-month period following a change in control of the Company, as well as vesting of outstanding and unvested equity awards in connection with a change in control of the Company, as described under “Executive Compensation—Potential Payments Upon Termination or Change in Control” below. The employment agreements with Ms. Goldstein and Mr. Emerson provide for severance payments in the event of a separation from service from the Company under certain conditions, as well as a retention bonus payment to Ms. Goldstein that is payable only if Ms. Goldstein stays employed in connection with a change in control of the Company. Ms. Goldstein and Mr. Emerson only receive benefits under the CIC Severance Plan to the extent such benefits would be greater than the benefits under their employment agreements. See “Executive Compensation—Narrative Disclosure Regarding Equity Plans and Employment Agreements” and “Executive Compensation—Potential Payments Upon Termination or Change in Control” below for more information. We believe that these severance benefits assist us in recruiting talented individuals to join and remain a part of our management team. From time to time, we may recruit executives from other companies where they have job security, tenure and career opportunities. Accepting a position with us may entail foregoing an otherwise secure position at another employer, and the benefits provided by the CIC Severance Plan help to mitigate the risk of harm that the executive may suffer in connection with adverse actions taken by a successor to the Company. Severance benefits also allow our NEOs to focus on the Company’s business without being unduly distracted by concerns about their job security in the event of a separation from service or a change in control. Our NEOs are not entitled to any gross-up payments to cover excise taxes imposed by the “golden parachute” regulations under Sections 280G and 4999 of the Internal Revenue Code, as amended (the “Code”).

  82. Severance and Change in Control Benefits for Other NEOs

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  83. Executive Chairman and CEO and President

    Executive Chairman and CEO and President The 2022 Management Agreement and the stock ownership guidelines policy adopted by the Board of Directors both prohibit, prior to March 31, 2029, ZMC and any Subject Person (as defined in the 2022 Management Agreement, and which includes each of Messrs. Zelnick and Slatoff individually) from selling or otherwise disposing of any shares of common stock of the Company, if the Market Value (as defined in the 2022 Management Agreement) of all shares of common stock of the Company (including any unvested restricted stock and RSUs, but excluding any unvested restricted stock or RSUs that remain subject to performance-based vesting) held by ZMC and such Subject Persons would be less than six times the per annum management fee (excluding any bonuses).

  84. Other NEOs

    Other NEOs NEOs (other than the Executive Chairman and CEO and President who are subject to the requirements described above) shall own shares of common stock having a value equal to three times their annual base salary within five years after the date of the adoption of the requirements and future NEOs shall achieve such ownership position within five years after the date of their appointment as NEOs. All shares that are directly owned by the NEO, shares that are beneficially owned by the NEO, such as shares held in “street name” through a broker or shares held in trust, and unvested shares of restricted stock and RSUs (other than any unvested restricted stock or RSUs that remain subject to performance-based vesting) are counted toward satisfying the requirements. The policy adopted by the Board of Directors with respect to our stock ownership requirements also include a holding requirement. Under this requirement, NEOs must retain at least 50% of the total equity credited from grants of equity awards (net of amounts required to pay taxes and exercise prices) until compliance with the applicable stock ownership requirement is achieved. All NEOs are in compliance with the applicable stock ownership requirements as of the date of this proxy filing.

  85. Impact of Tax and Accounting Rules

    Impact of Tax and Accounting Rules As a general matter, the Compensation Committee reviews and considers the various tax and accounting implications of compensation vehicles utilized by the Company. With respect to accounting considerations, the Compensation Committee examines the accounting cost associated with equity compensation in light of requirements under the Accounting Standards Codification (“ASC”) stock compensation guidance, which generally requires the Company to recognize compensation expense relating to equity awards based upon the grant date fair value of those awards. The Company also considers the accounting impact of preserving flexibility to settle RSUs awards in cash, shares, or a combination of cash and shares. With respect to taxes, the Compensation Committee may consider the anticipated tax treatment of various payments and benefits to the Company and, when relevant, to its executives. Section 162(m) of the Code generally prohibits any publicly held corporation from taking a federal income tax deduction for compensation paid in excess of $1 million in any taxable year to the NEOs, subject to certain exceptions. However, the Company generally believes that it is in our best interest and that of our shareholders to have the flexibility to pay compensation that was not deductible under the limitations of Section 162(m) of the Code to provide a compensation package consistent with our program and objectives.

  86. Risk Assessment of Overall Compensation Program

    Risk Assessment of Overall Compensation Program The Compensation Committee regularly reviews senior executive compensation and Company-wide compensation programs and policies to identify and mitigate potential risks and to ensure that our compensation arrangements are not reasonably likely to have a material adverse effect on the Company. In designing our compensation programs, the Compensation Committee seeks to balance the achievement of financial and strategic objectives with prudent risk management. Our compensation structure includes a mix of short-term and long-term incentives that encourage employees to focus on both near-term performance and longer-term value creation. Long-term incentives, including equity awards that vest over time and, in some cases, include a market-based performance metric, encourage employees to remain focused on sustained stock price appreciation. The Company also maintains individual bonus caps for senior executives further mitigating risk. Additional risk-mitigating features include our Clawback Policy, which requires the reimbursement of bonus or incentive compensation and/or the cancellation of outstanding equity previously granted in certain cases, and stock ownership guidelines that require executive officers to hold a significant amount of our common stock or equivalents. We also prohibit transactions designed to limit or eliminate economic risks to our employees of owning our common stock, such as options, puts, and calls, so our executives cannot insulate themselves from the effects of poor stock price performance. Senior executives from our risk, compliance, administrative, and finance functions, as well as the Compensation Committee’s independent compensation consultant, are involved in this annual review process. Based on this review, the Compensation Committee concluded that the Company’s compensation programs for fiscal 2026, were not reasonably likely to have a material adverse effect on the Company.

  87. Summary Compensation Table

    Summary Compensation Table

  88. Summary Compensation Table

    | Name and Principal Position | Fiscal Year | Salary ($) | Stock Awards ($)(1) | Non-Equity Incentive Plan Compensation ($)(2) | All Other Compensation ($)(3) | Total ($) | | Strauss Zelnick(4) Executive Chairman and Chief Executive Officer | 2026 | 1 | — | — | 403,018 | 403,019 | | | 2025 | 1 | — | — | 106,456 | 106,457 | | | 2024 | 1 | — | — | 274,073 | 274,074 | | Lainie Goldstein Chief Financial Officer | 2026 | 1,000,000 | 7,285,615 | 3,000,000 | 13,915 | 11,299,530 | | | 2025 | 1,000,000 | 8,839,424 | 1,495,500 | 13,800 | 11,348,724 | | | 2024 | 1,000,000 | 8,219,600 | 952,800 | 14,081 | 10,186,481 | | Karl Slatoff(4) President | 2026 | 1 | — | — | — | 1 | | | 2025 | 1 | — | — | — | 1 | | | 2024 | 1 | — | — | — | 1 | | Daniel Emerson Executive Vice President and Chief Legal Officer | 2026 | 850,000 | 4,999,874 | 2,125,000 | 14,000 | 7,988,874 | | | 2025 | 850,000 | 6,066,139 | 1,059,313 | 56,122 | 8,031,574 | | | 2024 | 850,000 | 5,640,876 | 674,900 | 13,200 | 7,178,976 |

  89. Summary Compensation Table

    (1)Represents the aggregate grant date fair value of stock awards granted to our NEOs in each of the reporting periods, determined under ASC Topic 718, Compensation—Stock Compensation. For additional information with respect to stock awards granted during fiscal 2026, see Note 16 under the heading “Stock-Based Compensation” of the Notes to Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for fiscal 2026. The amounts above reflect the grant date fair value for these awards and do not necessarily correspond to the actual value that might be realized by the NEOs, which depends on the market value of the Company’s common stock on a date in the future when the stock award vests. For time-based RSUs, that value is based on the fair market value of the Company’s common stock on the grant date and is determined by multiplying the number of shares subject to the grant by the closing price per share of the Company’s common stock. The value of the performance-based RSUs reflects the value of the awards at the grant date based upon the probable outcome of the performance conditions using the Monte Carlo simulation model and is consistent with our estimate of the aggregate compensation cost to be recognized over the vesting period determined in accordance with ASC Topic 718, Compensation—Stock Compensation, which is less than the maximum possible value. The following table shows the value of the NEOs’ respective performance-based awards on the date of grant at both the probable outcome of the performance conditions, which is reflected in the table above, as well as the maximum achievement of the applicable performance conditions.

  90. Summary Compensation Table

    | Name | Fiscal Year | Probable Outcome ($) | Maximum Performance ($) | | Lainie Goldstein | 2026 | 5,238,912 | 8,186,358 | | | 2025 | 6,627,899 | 13,255,798 | | | 2024 | 6,033,708 | 12,067,417 | | Daniel Emerson | 2026 | 3,595,354 | 5,618,080 | | | 2025 | 4,548,492 | 9,096,984 | | | 2024 | 4,140,732 | 8,281,464 |

  91. Summary Compensation Table

    (2)These amounts represent annual cash incentive payments. For more information, refer to “Compensation Discussion and Analysis—Annual Cash Incentive” above and the “Grants of Plan-Based Awards” table below. (3)The amounts set forth in this column for fiscal 2026 represent (i) the Company’s matching contributions to the Company’s 401(k) plan for Ms. Goldstein and Mr. Emerson, (ii) a club membership fee paid by the Company on behalf of Mr. Zelnick, used primarily for general corporate and corporate development purposes, (iii) a parking spot for Mr. Zelnick at the Company’s offices located at 110 West 44th Street, New York, New York 10036 paid for by the Company, and (iv) fees for personal security services for Mr. Zelnick in an amount equal to $392,899 paid for by the Company, based on our security assessment for the fiscal year. The incremental cost to the Company associated with the home security measures is determined based upon the amount paid by the Company to the applicable outside security provider. (4)As discussed in more detail below, Messrs. Zelnick and Slatoff were compensated for their respective services to the Company during fiscal years 2026, 2025 and 2024 pursuant to the 2022 Management Agreement. The provisions of the 2022 Management Agreement establish the payments and benefits to which ZMC is entitled as consideration for providing the services set forth therein. In general, in connection with their provision of services to the Company, the actual amount of compensation received by Messrs. Zelnick and Slatoff is determined in the sole discretion of ZMC and without the Company’s knowledge, except that, under the terms of the 2022 Management Agreement, Mr. Zelnick may not receive more than 60% of the payments and benefits made to ZMC and Mr. Slatoff may not receive more than 40% of the payments and benefits made to ZMC.

  92. Summary Compensation Table

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  93. GRANTS OF PLAN-BASED AWARDS

    GRANTS OF PLAN-BASED AWARDS

  94. Grants of Plan-Based Awards

    Grants of Plan-Based Awards The following table sets forth information concerning awards under the Company’s equity and non-equity incentive plans granted to each of the NEOs during fiscal 2026, including performance-based awards and those using time-based vesting. Assumptions used in the calculation of certain dollar amounts are included in Note 16 to the Company’s audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for fiscal 2026.

  95. Grants of Plan-Based Awards

    | | | | Estimated Future Payouts Under Non-Equity Incentive Plan Awards(1) | | | Estimated Future Payouts Under Equity Incentive Plan Awards(2) | | | All Other Stock Awards: Number of Shares of Stock or Units(2) (#) | Grant Date Fair Value of Stock Awards ($)(4) | | Name | Grant Date | Approval Date | Threshold ($) | Target ($) | Maximum ($) | Threshold (#) | Target (#) | Maximum (#)(3) | | | | Strauss Zelnick(5) | — | — | — | — | — | — | — | — | — | — | | Lainie Goldstein | 6/1/2025 | 5/29/2025 | — | — | — | — | 18,089 | 36,178 | — | 5,238,912 | | | 6/1/2025 | 5/29/2025 | — | — | — | — | — | — | 9,045 | 2,046,703 | | | — | — | — | 1,500,000 | 3,000,000 | — | — | — | — | — | | Karl Slatoff(5) | — | — | — | — | — | — | — | — | — | — | | Daniel Emerson | 6/1/2025 | 5/29/2025 | — | — | — | — | 12,414 | 24,828 | — | 3,595,354 | | | 6/1/2025 | 5/29/2025 | — | — | — | — | — | — | 6,207 | 1,404,520 | | | — | — | — | 1,062,500 | 2,125,000 | — | — | — | — | — |

  96. Grants of Plan-Based Awards

    (1)Represents cash performance bonus opportunities ranging from 0% to 300% of base salary for Ms. Goldstein and from 0% to 250% of base salary for Mr. Emerson. There is no set minimum payout amount. See “Compensation Discussion and Analysis—Annual Cash Incentive.” (2)For Ms. Goldstein and Mr. Emerson, 66.7% of the RSUs vest 100% on the third anniversary of the grant date, subject to the satisfaction of certain performance criteria based on (i) the Company’s TSR performance measured against the Nasdaq 100 Index, with respect to 75% of such RSUs, and (ii) the Company’s RCS performance, with respect to 25% of such RSUs, in each case over a period of approximately three (3) years. The remaining 33.3% of the RSUs vest 25% on June 1, 2026 and thereafter in 12 equal quarterly installments commencing on September 1, 2026 based on the NEO’s continued service with the Company. There is no set minimum payout amount. (3)Represents the maximum shares of performance-based RSUs. Such RSUs will vest, if at all, 100% on June 1, 2028. (4)These amounts are valued based on the aggregate grant date fair market value of the award. For additional information with respect to stock awards granted during fiscal 2026, see Note 16 under the heading “Stock-Based Compensation” of the Notes to Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for fiscal 2026. The grant date fair value of equity incentive plan awards that are subject to performance-based vesting conditions is based upon the probable outcome of such conditions. All amounts reflect the grant date fair value for these awards, excluding the accounting effect of any estimate of future service-based forfeitures, and do not necessarily correspond to the actual value that might be realized by the NEOs. (5)Messrs. Zelnick and Slatoff have not received cash performance bonuses or grants of restricted stock, RSUs or option awards. Messrs. Zelnick and Slatoff are partners in ZMC, to which the Company has paid cash performance bonuses and has previously granted restricted stock, RSUs and options pursuant to the ZMC Management Agreement. At target, 67% of equity awards to ZMC for our CEO and President are conditioned on the achievement of relative TSR and RCS goals measured over a three-year performance period. At maximum, 80% of their equity awards are similarly linked to performance. For information regarding the grants and cash performance bonuses made to ZMC, see “Certain Relationships and Related Transactions—Management Agreement.”

  97. OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END

    OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END

  98. Outstanding Equity Awards at Fiscal Year-End

    Outstanding Equity Awards at Fiscal Year-End The following table sets forth information concerning RSUs outstanding for each of the NEOs as of March 31, 2026:

  99. Outstanding Equity Awards at Fiscal Year-End

    | | Stock Awards | | | | | | Name | Stock Award Grant Date | Number of Shares or Units of Stock That Have Not Vested (#)(1) | Market Value of Shares or Units of Stock That Have Not Vested ($)(2) | Equity Incentive Plan Awards: Number of Unearned Shares or Units of Stock That Have Not Vested (#) | Equity Incentive Plan Awards: Market Value of Unearned Shares or Units of Stock That Have Not Vested ($)(2) | | Strauss Zelnick(3) | — | — | — | — | — | | Lainie Goldstein | 6/1/2025 | 9,045 | 1,786,388 | 36,178 | 7,145,155 | | | 6/1/2024 | 7,758 | 1,532,205 | 55,244 | 10,910,690 | | | 6/1/2023 | 4,965 | 980,588 | 63,640 | 12,568,900 | | | 6/1/2022 | 1,041 | 205,598 | — | — | | Karl Slatoff(3) | — | — | — | — | — | | Daniel Emerson | 6/1/2025 | 6,207 | 1,225,883 | 24,828 | 4,903,530 | | | 6/1/2024 | 5,325 | 1,051,688 | 37,912 | 7,487,620 | | | 6/1/2023 | 3,410 | 673,475 | 43,674 | 8,625,615 | | | 6/1/2022 | 715 | 141,213 | — | — |

  100. Outstanding Equity Awards at Fiscal Year-End

    (1)Time-based awards and performance-based awards with respect to which the performance criteria have been satisfied, made under the 2017 Plan. The time- based awards vest, subject to continuing employment, 25% on the anniversary of the grant date and thereafter in 12 equal quarterly installments commencing on September 1st. The performance-based awards will vest, if at all, 100% on the third anniversary of the grant date. (2)Value determined based on the closing price of the Company’s common stock of $197.50 on March 31, 2026, the final business day of fiscal 2026. (3)Messrs. Zelnick and Slatoff have not received grants of stock or option awards. Messrs. Zelnick and Slatoff are partners in ZMC, to which the Company has previously granted restricted stock, RSUs and options pursuant to the ZMC management agreements. Of these grants, no options or shares of restricted stock remained outstanding and an aggregate of 726,835 time-based and performance-based RSUs (based on the target number of performance-based RSUs eligible to vest) or 1,279,802 time-based and performance-based RSUs (based on the maximum number of performance-based RSUs eligible to vest) remained unvested as of March 31, 2026. The value of the unvested RSUs based on the closing price of the common stock on March 31, 2026, was $143,549,913 (based on the target number of performance-based RSUs eligible to vest) or $252,760,895 (based on the maximum number of performance- based RSUs eligible to vest).

  101. Outstanding Equity Awards at Fiscal Year-End

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  102. STOCK VESTED DURING FISCAL 2026

    STOCK VESTED DURING FISCAL 2026

  103. Stock Vested During Fiscal 2026

    Stock Vested During Fiscal 2026 The following table sets forth information concerning the vesting of RSUs held by each of the NEOs during fiscal 2026. The value realized from vested RSUs is deemed to be the market value of the common stock on the date of vesting, based on the closing price on such date, multiplied by the number of shares.

  104. Stock Vested During Fiscal 2026

    | | Stock Awards | | | Name | Number of Shares Acquired on Vesting (#) | Value Realized on Vesting ($) | | Strauss Zelnick(1) | — | — | | Lainie Goldstein | 80,869(2) | $18,343,201 | | Karl Slatoff(1) | — | — | | Daniel Emerson | 55,496(3) | $12,587,915 |

  105. Stock Vested During Fiscal 2026

    (1)As discussed above, Messrs. Zelnick and Slatoff have not received grants of restricted stock, RSUs or option awards, but are partners in ZMC, which has received certain grants. The Company’s RCS achievement for the awards that vested in fiscal 2026 was in excess of the maximum goal, which resulted in the maximum vesting percentage for the RSUs (i.e. 200% of target) based on achievement of RCS performance-vesting criteria, and no shares being forfeited. The Company’s relative TSR achievement for the awards that vested in fiscal 2026 was the 78th percentile, which resulted in the maximum vesting percentage for the RSUs (i.e. 200% of target) based on achievement of TSR performance-vesting criteria, and no shares being forfeited. For information related to shares that vested or failed to vest see “Certain Relationships and Related Transactions—Management Agreement” and “Pay versus Performance”. (2)Represents (i) a total of 4,164 time-based RSUs originally granted on June 1, 2022 which vested in four quarterly installments on each of June 1, 2025, September 1, 2025, December 1, 2025, and March 1, 2026, (ii) a total of 3,972 time-based RSUs originally granted on June 1, 2023 which vested in four quarterly installments on each of June 1, 2025, September 1, 2025, December 1, 2025, and March 1, 2026, (iii) a total of 6,033 time-based RSUs originally granted on June 1, 2024 which vested in four quarterly installments on each of June 1, 2025, September 1, 2025, December 1, 2025, and March 1, 2026, and (iv) 66,700 performance-based RSUs originally granted on June 1, 2022, which vested on June 1, 2025 as a result of maximum performance criteria achievement. The performance-based RSUs that vested on June 1, 2025 included only relative TSR performance-based vesting, and the Company’s relative TSR achievement for the awards that vested in fiscal 2026 was the 78th percentile, which resulted in the maximum vesting percentage for the performance-based RSUs, (i.e. 200% of target), and no shares being forfeited. (3)Represents (i) a total of 2,858 time-based RSUs originally granted on June 1, 2022 which vested in four quarterly installments on each of June 1, 2025, September 1, 2025, December 1, 2025, and March 1, 2026, (ii) a total of 2,725 time-based RSUs originally granted on June 1, 2023 which vested in four quarterly installments on each of June 1, 2025, September 1, 2025, December 1, 2025, and March 1, 2026, (iii) a total of 4,139 time-based RSUs originally granted on June 1, 2024 which vested in four quarterly installments on each of June 1, 2025, September 1, 2025, December 1, 2025, and March 1, 2026, and (iv) 45,774 performance-based RSUs originally granted on June 1, 2022, which vested on June 1, 2025 as a result of maximum performance criteria achievement. The performance-based RSUs that vested on June 1, 2025 included only relative TSR performance-based vesting, and the Company’s relative TSR achievement for the awards that vested in fiscal 2026 was the 78th percentile, which resulted in the maximum vesting percentage for the performance-based RSUs, (i.e. 200% of target), and no shares being forfeited.

  106. Pension Benefits

    Pension Benefits We do not currently sponsor or maintain any defined benefit pension or retirement plans providing specified retirement payments and benefits for our NEOs.

  107. Nonqualified Deferred Compensation for Fiscal 2026

    Nonqualified Deferred Compensation for Fiscal 2026 The following table sets forth information regarding deferrals, earnings, and balances under the DCP for each of our NEOs as of March 31, 2026:

  108. Nonqualified Deferred Compensation for Fiscal 2026

    | Name | Executive Contributions in Last Fiscal Year ($)(1) | Registrant Contributions in Last Fiscal Year ($)(2) | Aggregate Earnings in Last Fiscal Year ($) | Aggregate Withdrawals/ Distributions ($) | Aggregate Balance at Last Fiscal Year End ($)(3) | | Lainie Goldstein | - | - | - | - | - | | Daniel Emerson | 425,000 | - | - | - | 425,000 |

  109. Nonqualified Deferred Compensation for Fiscal 2026

    (1)Represents the aggregate amount of the annual cash bonus deferred by Mr. Emerson under the DCP. These amounts are related to compensation earned by the NEOs in fiscal 2026, and are therefore also reported in the appropriate column in the Summary Compensation Table above. Ms. Goldstein did not participate in the DCP in fiscal 2026. (2)The Company did not make any discretionary employer contributions under the DCP and no amounts are reported in the Summary Compensation Table for fiscal 2026. (3)The aggregate balance reported in this column for Mr. Emerson reflects the deferral of a portion of his fiscal 2026 annual cash bonus, all of which is reported as compensation for fiscal 2026 in the Summary Compensation Table above. The amounts reported in this column do not represent above-market earnings, and thus are not reported in the Summary Compensation Table. For the avoidance of doubt, and notwithstanding the above, the amounts reported in this column were credited to Mr. Emerson’s account as of June 12, 2026. The material terms of the DCP are included in our Compensation Discussion and Analysis above.

  110. Nonqualified Deferred Compensation for Fiscal 2026

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  111. POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL

    POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL

  112. Potential Payments Upon Termination or Change in Control

    Potential Payments Upon Termination or Change in Control Ms. Goldstein and Mr. Emerson are entitled to receive certain amounts and benefits upon termination of their employment or a change in control pursuant to their employment agreements. Additionally, Ms. Goldstein and Mr. Emerson are eligible to participate in the CIC Severance Plan, to the extent they would be entitled to receive greater amounts and benefits under the CIC Severance Plan than under their employment agreements. Additionally, commencing in fiscal 2025, equity grants made to Ms. Goldstein and Mr. Emerson (but not to ZMC) included certain special retirement vesting terms. Messrs. Zelnick and Slatoff are not entitled to directly receive any severance benefits from the Company upon a termination of employment or change in control. See “Certain Relationships and Related Transactions—Management Agreement” for details regarding certain payments and benefits that ZMC is entitled to receive upon certain qualifying terminations.

  113. POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL

    POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL

  114. Fiscal 2026 Equity Awards Retirement Provision

    Fiscal 2026 Equity Awards Retirement Provision Since fiscal 2025, we have included a retirement provision into our annual equity award agreements for all our employees (including our non-ZMC NEOs) to recognize eligible employees’ long-term contributions and impact to our Company if such eligible employee retires. The equity awards granted to Ms. Goldstein and Mr. Emerson in fiscal 2026 included such retirement provisions, whereby, in the case of a retirement, time-vested RSUs will immediately vest in full upon such retirement and performance-vested RSUs will remain eligible to vest on the original vesting date applicable thereto based on actual performance, with settlement to occur within 60 days of vesting, if applicable. These provisions were updated from fiscal year 2025, where time-vested RSUs vested according to their original schedule and only a pro-rated amount of performance-vested RSUs were eligible to vest, to better reflect market standards. For purposes of the awards, “retirement” means a person’s termination at or after attaining (x) age 55, with at least 10 years of service, or (y) age 60, with at least 5 years of service, and provided that such person satisfies certain advance notice of retirement requirements as set forth in the grant agreements.

  115. Fiscal 2026 Equity Awards Retirement Provision

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  116. POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL

    POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL

  117. Potential Payments Upon Termination or Change of Control Table

    Potential Payments Upon Termination or Change of Control Table The tables below set forth amounts to be paid or benefits received by those NEOs entitled to receive any amounts or benefits upon a qualifying termination of their employment or in connection with a change in control, assuming the applicable triggering event occurred on March 31, 2026 pursuant to their employment agreements and the CIC Severance Plan (to the extent the benefits under the CIC Severance Plan would be greater than the benefits under the employment agreements).

  118. Potential Payments Upon Termination or Change of Control Table

    | Lainie Goldstein | Termination Without Cause ($)(1) | Death or Disability ($) | Change in Control Termination Without Cause or for Good Reason ($) | Retirement ($)(5) | | Salary Payment | 2,000,000 | — | 2,000,000 | — | | Continuation of Medical Insurance | 20,805 | — | 20,805 | — | | Acceleration of Equity Awards(2) | 23,336,442 | 23,336,442 | 23,336,442 | 10,206,998 | | Bonus Payment | 4,500,000 | 1,500,000 | 4,500,000 | — | | Stay Bonus | — | — | 500,000(3) | — | | Total Termination Benefits | 29,857,247 | 24,836,442 | 30,357,247(4) | 10,206,998 |

  119. Potential Payments Upon Termination or Change of Control Table

    | Daniel Emerson | Termination Without Cause ($)(1) | Death or Disability ($) | Change in Control Termination Without Cause or for Good Reason ($) | Retirement ($)(5) | | Salary Payment | 850,000 | — | 1,275,000 | — | | Continuation of Welfare Benefits | 37,979 | — | 56,968 | — | | Acceleration of Equity Awards(2) | 16,015,812 | 16,015,812 | 16,015,812 | — | | Bonus Payment | 1,062,500 | — | 1,593,750 | — | | Total Termination Benefits | 17,966,291 | 16,015,812 | 18,941,530(4) | — |

  120. Potential Payments Upon Termination or Change of Control Table

    (1)Under Ms. Goldstein’s and Mr. Emerson’s employment agreements, a termination without cause includes a resignation following certain events so as to be deemed a termination by the Company without cause and for Ms. Goldstein, the Company’s non-renewal of the employment agreement. For purposes of Ms. Goldstein’s and Mr. Emerson’s employment agreements, “cause” generally means such person’s continued failure to substantially perform duties under the employment agreement after receipt of notice from the Company, such person’s criminal conviction which is demonstrably injurious to the Company, such person’s felony conviction, such person’s gross negligence which significantly affects the Company or such person’s material failure to adhere to the Company’s material written policies or to cooperate in any investigation or inquiry involving the Company. For purposes of Ms. Goldstein’s and Mr. Emerson’s employment agreements, Ms. Goldstein’s or Mr. Emerson’s resignation in connection with the following events will be tantamount to a termination without cause: a material breach of the employment agreement by the Company, a material diminution in such person’s title, status, position or responsibilities, the Company’s failure to timely pay compensation due under the employment agreement, a material reduction in such person’s salary or any reduction in target bonus, assignment of duties to such person which are materially inconsistent with the duties set forth in the employment agreement, relocation of such person’s principal place of employment beyond 10 miles from its then-current location or the failure of any successor to assume the Company’s obligations under the employment agreement. (2)The value of the equity awards is calculated by multiplying the number of shares of restricted stock and RSUs that accelerate by the per share closing price of the Company’s common stock of $197.50 on March 31, 2026. (3)Ms. Goldstein’s employment agreement provides that Ms. Goldstein will be eligible to earn a change in control retention bonus. This change in control retention bonus reflects Ms. Goldstein’s retention during a transition being critical to the Company. Ms. Goldstein is the only individual at the Company who has a retention bonus. A portion of such bonus, equal to three months’ base salary, will be payable upon the closing of a change in control, and a portion of the bonus, equal to three months’ base salary, will be payable on the six month anniversary of such change in control, provided that Ms. Goldstein has continued to be employed by the Company following such change in control through the applicable payment date (or if Ms. Goldstein undergoes an involuntary termination of employment prior to the applicable payment date, including a termination by the Company without cause, a non-renewal of the employment agreement by the Company, or a resignation following the occurrence of certain events or circumstances that will be deemed tantamount to a termination without cause). (4)In the event that the total amounts payable in connection with a change in control to Ms. Goldstein or Mr. Emerson would trigger an excise tax on “parachute payments” under Section 280G of the Code, then the total amounts payable in the scenarios illustrated in this table would be reduced in order to avoid triggering the excise tax if they would benefit from such reduction as opposed to paying the excise tax. (5)Reflects the value of accelerated vesting of the fiscal 2025 and 2026 equity awards for Ms. Goldstein, who, as of March 31, 2025, met the age and service requirements for retirement, assuming full vesting of time-vest RSUs, pro-rated vesting of performance-vest RSUs (assuming target levels of achievement) granted in fiscal year 2025, and full vesting of time-based and performance-based RSUs granted in fiscal year 2026 (assuming target levels of achievement). Mr. Emerson did not meet the age requirement for retirement as of March 31, 2026.

  121. Potential Payments Upon Termination or Change of Control Table

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  122. CEO PAY RATIO

    CEO PAY RATIO

  123. CEO Pay Ratio

    CEO Pay Ratio Under SEC rules, we are required to provide information regarding the relationship between the annual total compensation of Mr. Strauss Zelnick, the Company’s Chairman and Chief Executive Officer, and the annual total compensation of the Company’s median employee (excluding Mr. Zelnick) for fiscal 2026. With respect to the annual total compensation of Mr. Zelnick, we used both the amount reported in the Summary Compensation Table, as required by Item 402(u) of Regulation S-K, and, because such amount does not reflect the amount Mr. Zelnick receives from our payments to ZMC, the maximum amount Mr. Zelnick was eligible to receive from ZMC in connection with the fees paid by us to ZMC under the Management Agreement for fiscal 2026. We believe this provides a better understanding than the ratio based solely on the amount of Mr. Zelnick’s compensation reported in the “Total” column in the “Summary Compensation Table” included in this Proxy Statement. •Mr. Zelnick’s annual total compensation, as reported in the “Summary Compensation Table” included in this Proxy Statement, was $403,019. •The total compensation paid to ZMC in fiscal 2026, as set forth in the “Compensation Discussion and Analysis-Detailed Discussion and Analysis-Compensation to Executive Chairman and CEO and President-Fiscal 2026 Fees and Incentives to ZMC” section of this Proxy Statement on page 37, was $66,818,000, and the maximum portion that Mr. Zelnick could have received was $40,090,800. When combined with the compensation received by Mr. Zelnick from the Company as reported in the “Summary Compensation Table” included in this Proxy Statement, the total maximum amount of compensation Mr. Zelnick was eligible to receive was $40,493,819. •The annual total compensation of the median employee (excluding Mr. Zelnick) of the Company (including our consolidated subsidiaries) was $86,683. •Based on the above, for fiscal 2026, the ratio of Mr. Zelnick’s annual total compensation to the annual total compensation of the median employee was: •4.65 to 1 based on Mr. Zelnick’s annual total compensation, as reported in the “Summary Compensation Table” included in this Proxy Statement, or •467.15 to 1 based on the total maximum amount of compensation Mr. Zelnick was eligible to receive from ZMC and the Company in fiscal 2026. This pay ratio is a reasonable estimate calculated in a manner consistent with Item 402(u) of Regulation S-K under the Securities Act of 1933, as amended. We determined the median of the annual total cash compensation of our employees as of January 1, 2026, at which time we had approximately 13,198 regular, temporary, and seasonal individuals employed on a full or part-time basis, globally, approximately 5,102 of whom are U.S. employees, and approximately 8,096 (or approximately 61.34% of our total employee population) of whom are located outside of the United States. We did not exclude any of the employees who are located outside of the United States from the pool used to identify the median employee. We then compared the annualized base salaries, bonuses and commissions earned by our employees (other than Mr. Zelnick) to determine the median employee. Once we identified our median employee, we estimated such employee’s annual total compensation in accordance with the requirements of Item 402(c)(2)(x) of Regulation S-K, yielding the median annual total compensation disclosed above. There are a wide variety of job functions within our company, across numerous global jurisdictions. Accordingly, the compensation paid to our employees differs greatly between departments, experience levels, and locations. We believe that our employees are fairly compensated and appropriately incentivized. The SEC rules for identifying the median compensated employee and calculating the pay ratio based on that employee’s annual total compensation, allow companies to adopt a variety of methodologies, to apply certain exclusions, and to make reasonable estimates and assumptions that reflect their employee populations and compensation practices. Accordingly, the pay ratio reported by other companies may not be comparable to the pay ratio reported above, as other companies have different employee populations and compensation practices and may use different methodologies, exclusions, estimates and assumptions in calculating their own pay ratios.

  124. CEO Pay Ratio

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  125. PAY VERSUS PERFORMANCE DISCLOSURE

    PAY VERSUS PERFORMANCE DISCLOSURE

  126. Pay Versus Performance Disclosure

    Pay Versus Performance Disclosure In accordance with rules adopted by the Securities and Exchange Commission pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, we provide the following disclosure regarding executive compensation for our principal executive officer (“PEO”) and Non-PEO NEOs and Company performance for the fiscal years listed below. The Compensation Committee did not consider the pay versus performance disclosure below in making its pay decisions for any of the years shown.

  127. Pay Versus Performance Disclosure

    | Fiscal Year | Summary Compensation Table Total for PEO1 ($) | Compensation Actually Paid to PEO1,2,3,4 ($) | Average Summary Compensation Table Total for Non-PEO NEOs1 ($) | Average Compensation Actually Paid to Non-PEO NEOs1,2,3,4 ($) | Value of Initial Fixed $100 Investment based on:5 | | Net Income ($ Millions) | Adjusted EBITDA6 ($ Millions) | | | | | | | TSR ($) | Peer Group TSR ($) | | | | 2026 | 403,019 | 403,019 | 6,429,468 | 5,123,009 | 112 | 137 | (298.2) | 1,401.6 | | 2025 | 106,457 | 106,457 | 6,445,720 | 18,396,613 | 117 | 129 | (4,478.9) | 901.0 | | 2024 | 274,074 | 274,074 | 5,788,486 | 6,261,216 | 84 | 121 | (3,744.2) | 845.2 | | 2023 | 115,015 | 115,015 | 6,495,652 | 4,231,852 | 68 | 97 | (1,124.7) | 940.6 | | 2022 | 142,996 | 142,996 | 3,316,198 | 2,134,073 | 87 | 107 | 418.0 | 827.2 |

  128. Pay Versus Performance Disclosure

    (1)Strauss Zelnick was our PEO for each fiscal year presented. The individuals comprising the Non-PEO NEOs for each fiscal year presented were Lainie Goldstein, Karl Slatoff, and Daniel Emerson. (2)The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized, or received by the Company’s NEOs. These amounts reflect the Summary Compensation Table Total with certain adjustments as described in footnote 4 below. (3)Messrs. Zelnick and Slatoff were compensated for their respective services to the Company under the 2022 Management Agreement and, prior to May 23, 2022, the 2017 Management Agreement. The provisions of the 2022 Management Agreement and the 2017 Management Agreement establish the payments and benefits to which ZMC is entitled as consideration for providing the services set forth therein. In general, in connection with their provision of services to the Company, the actual amount of compensation received by Messrs. Zelnick and Slatoff is determined in the sole discretion of ZMC and without the Company’s knowledge, except that, under the terms of the 2022 Management Agreement and the 2017 Management Agreement, Mr. Zelnick may not receive more than 60% of the payments and benefits made to ZMC and Mr. Slatoff may not receive more than 40% of the payments and benefits made to ZMC. Amounts paid by ZMC to Messrs. Zelnick and Slatoff are not included in this disclosure. (4)Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and Non-PEO NEOs as set forth below. Equity values are calculated in accordance with ASC Topic 718. Amounts in the Exclusion of Stock Awards column are the totals from the Stock Awards column set forth in the Summary Compensation Table.

  129. Pay Versus Performance Disclosure

    | Fiscal Year | Summary Compensation Table Total for PEO ($) | Exclusion of Stock Awards for PEO ($) | Inclusion of Equity Values for PEO ($) | Compensation Actually Paid to PEO ($) | | 2026 | 403,019 | — | — | 403,019 |

  130. Pay Versus Performance Disclosure

    | Fiscal Year | Average Summary Compensation Table Total for Non-PEO NEOs ($) | Average Exclusion of Stock Awards for Non-PEO NEOs ($) | Average Inclusion of Equity Values for Non-PEO NEOs ($) | Average Compensation Actually Paid to Non-PEO NEOs ($) | | 2026 | 6,429,468 | (4,095,163) | 2,788,704 | 5,123,009 |

  131. Pay Versus Performance Disclosure

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  132. PAY VERSUS PERFORMANCE DISCLOSURE

    PAY VERSUS PERFORMANCE DISCLOSURE The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:

  133. PAY VERSUS PERFORMANCE DISCLOSURE

    | Fiscal Year | Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for PEO ($) | Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for PEO ($) | Vesting-Date Fair Value of Equity Awards Granted During Year that Vested During Year for PEO ($) | Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for PEO ($) | Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year for PEO ($) | Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included for PEO ($) | Total- Inclusion of Equity Values for PEO ($) | | 2026 | — | — | — | — | — | — | — |

  134. PAY VERSUS PERFORMANCE DISCLOSURE

    | Fiscal Year | Average Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for Non- PEO NEOs ($) | Average Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for Non-PEO NEOs ($) | Average Vesting-Date Fair Value of Equity Awards Granted During Year that Vested During Year for Non-PEO NEOs ($) | Average Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for Non-PEO NEOs ($) | Average Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year for Non-PEO NEOs ($) | Average Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included for Non-PEO NEOs ($) | Total - Average Inclusion of Equity Values for Non-PEO NEOs ($) | | 2026 | 3,679,497 | (1,780,616) | — | 889,823 | — | — | 2,788,704 |

  135. PAY VERSUS PERFORMANCE DISCLOSURE

    (5)The Peer Group TSR set forth in this table utilizes the RDG Technology Composite Index, which we have also utilized in the stock performance graph required by Item 201(e) of Regulation S-K included in our Annual Report on Form 10-K for the year ended March 31, 2026. The comparison assumes $100 was invested for the period starting March 31, 2021, through the end of the listed fiscal year in the Company and in the RDG Technology Composite Index, respectively. Historical stock performance is not necessarily indicative of future stock performance. (6)We determined Adjusted EBITDA to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our NEOs in fiscal 2026. Adjusted EBITDA is a non-GAAP measure, which is defined as GAAP net income (loss) excluding the change in deferred net revenue and related cost of revenue, stock-based compensation, business reorganization, interest expense (income), depreciation and amortization, amortization and impairment of intangible assets, bonus, income taxes, fair value adjustments related to certain equity investments and acquisition-related costs. A reconciliation of GAAP net income to Adjusted EBITDA for fiscal 2026 is provided in Annex A. Adjusted EBITDA may not have been the most important financial performance measure in prior fiscal years, and we may determine a different financial performance measure to be the most important financial performance measure in future fiscal years.

  136. PAY VERSUS PERFORMANCE DISCLOSURE

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  137. PAY VERSUS PERFORMANCE DISCLOSURE

    PAY VERSUS PERFORMANCE DISCLOSURE

  138. Relationship Between PEO and Non-PEO NEO Compensation Actually Paid and Adjusted EBITDA

    Relationship Between PEO and Non-PEO NEO Compensation Actually Paid and Adjusted EBITDA The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our Non-PEO NEOs, and our Adjusted EBITDA during the five most recently completed fiscal years.

  139. Relationship Between PEO and Non-PEO NEO Compensation Actually Paid and Adjusted EBITDA

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  140. PAY VERSUS PERFORMANCE DISCLOSURE

    PAY VERSUS PERFORMANCE DISCLOSURE

  141. Relationship Between PEO and Non-PEO NEO Compensation Actually Paid and Total Shareholder

    Relationship Between PEO and Non-PEO NEO Compensation Actually Paid and Total Shareholder

  142. PAY VERSUS PERFORMANCE DISCLOSURE

    PAY VERSUS PERFORMANCE DISCLOSURE

  143. Relationship Between PEO and Non-PEO NEO Compensation Actually Paid and Net Income

    Relationship Between PEO and Non-PEO NEO Compensation Actually Paid and Net Income The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our Non-PEO NEOs, and our Net Income during the five most recently completed fiscal year.

  144. Relationship Between PEO and Non-PEO NEO Compensation Actually Paid and Net Income

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  145. SUPPLEMENTAL PAY VERSUS PERFORMANCE DISCLOSURE

    SUPPLEMENTAL PAY VERSUS PERFORMANCE DISCLOSURE

  146. Supplemental Pay Versus Performance Disclosure

    Supplemental Pay Versus Performance Disclosure The following disclosure provides an alternative to the Pay Versus Performance disclosure above by incorporating the maximum compensation opportunities allocable by ZMC to Messrs. Zelnick and Slatoff under the 2022 Management Agreement and the 2017 Management Agreement. Refer to the Compensation Discussion & Analysis for further detail on these arrangements. This disclosure is supplementary and is not intended to satisfy the requirements of Item 402(v) of Regulation S-K. The Compensation Committee did not consider the disclosure below in making its pay decisions for any of the years shown.

  147. Supplemental Pay Versus Performance Disclosure

    | | Summary Compensation Table Total (Adjusted for Maximum ZMC Opportunity) for PEO1,2 ($) | Compensation Actually Paid (Adjusted for Maximum ZMC Opportunity) to PEO1,2,3,4 ($) | Average Summary Compensation Table Total (Adjusted for Maximum ZMC Opportunity) for Non-PEO NEOs1,2 ($) | Average Compensation Actually Paid (Adjusted for Maximum ZMC Opportunity) to Non-PEO NEOs1,2,3,4 ($) | Value of Initial Fixed $100 Investment based on:5 | | | | | Fiscal Year | | | | | TSR ($) | Peer Group TSR ($) | Net Income ($ Millions) | Adjusted EBITDA6 ($ Millions) | | 2026 | 45,043,098 | 35,059,708 | 16,349,486 | 12,824,533 | 112 | 137 | (298) | 1,401.6 | | 2025 | 43,302,010 | 118,690,718 | 16,044,732 | 44,748,653 | 117 | 129 | (4,479) | 901.0 | | 2024 | 32,754,669 | 46,964,443 | 13,006,396 | 16,636,856 | 84 | 121 | (3,744) | 845.2 | | 2023 | 50,006,805 | 42,108,832 | 17,582,716 | 13,563,715 | 68 | 97 | (1,125) | 940.6 | | 2022 | 21,499,437 | 16,151,492 | 8,062,073 | 5,691,540 | 87 | 107 | 418 | 827.2 |

  148. Supplemental Pay Versus Performance Disclosure

    (1)Strauss Zelnick was our PEO for each year presented. The individuals comprising the Non-PEO NEOs for each year presented were Lainie Goldstein, Karl Slatoff, and Daniel Emerson. (2)Messrs. Zelnick and Slatoff were compensated for their respective services to the Company under the 2022 Management Agreement and, prior to May 23, 2022, the 2017 Management Agreement. The provisions of the 2022 Management Agreement and the 2017 Management Agreement establish the payments and benefits to which ZMC is entitled as consideration for providing the services set forth therein. In general, in connection with their provision of services to the Company, the actual amount of compensation received by Messrs. Zelnick and Slatoff is determined in the sole discretion of ZMC and without the Company’s knowledge, except that, under the terms of both Management Agreements, Mr. Zelnick may not receive more than 60% of the payments and benefits made to ZMC and Mr. Slatoff may not receive more than 40% of the payments and benefits made to ZMC. The data in this supplementary table reflect the maximum compensation opportunities of Messrs. Zelnick and Slatoff under these agreements. (3)The amounts shown for Compensation Actually Paid (Adjusted for Maximum ZMC Opportunity) do not reflect compensation actually earned, realized, or received by the Company’s NEOs. (4)Compensation Actually Paid (Adjusted for Maximum ZMC Opportunity) reflects: (1) the exclusion of Stock Awards from the Summary Compensation Table for all the NEOs and, for Messrs. Zelnick and Slatoff, the exclusion of the accounting value of stock awards that could be granted to each by ZMC under the 2022 Management Agreement and 2017 Management Agreement, assuming their maximum ZMC compensation opportunities; and (2) the inclusion of the value of equity awards granted by the Company to non-ZMC NEOs and, for, Messrs. Zelnick and Slatoff, to ZMC, assuming their maximum ZMC compensation opportunities. The equity award adjustments for each applicable year in this supplementary disclosure include the addition or subtraction of amounts as would be required under Regulation S-K, Item 402(v)(2)(iii). (5)See the section of this Proxy Statement captioned Pay Versus Performance Disclosure for the methodology used in calculating TSR and Peer Group TSR. (6)See the section of this Proxy Statement captioned Pay Versus Performance Disclosure for a description of this performance measure.

  149. Supplemental Pay Versus Performance Disclosure

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  150. Compensation of Directors During 2026 Fiscal Year

    Compensation of Directors During 2026 Fiscal Year The Compensation Committee reviews and makes recommendations to the Board regarding the form and amount of compensation for non-employee directors. Typically, on an annual basis, the Committee considers a board compensation study by its independent compensation consultant to support the Committee in its deliberations. Such compensation may include, but is not limited to, the following elements: board or committee retainer, board or committee meeting fees, committee chair retainer or fees, equity compensation, benefits and perquisites. All directors who served during fiscal 2026, other than Mr. Zelnick, are regarded as non-employee directors. The key elements of the compensation payable to our non-employee directors are as follows:

  151. Compensation of Directors During 2026 Fiscal Year

    | Component | | | Value of Award Under Current Policy | Notes | | Annual Retainer | For Each Non-Employee Director | | $300,000 | $235,000 restricted stock/ $65,000 cash | | Lead Independent Director Additional Fees | For Lead Independent Director | | $200,000 | $100,000 restricted stock/ $100,000 cash | | Committee Fees | Audit Committee | Chair | $40,000 | — | | | | Other Members | $20,000 | — | | | Compensation Committee | Chair | $30,000 | — | | | | Other Members | $15,000 | — | | | Corporate Governance Committee | Chair | $30,000 | — | | | | Other Members | $10,000 | — | | | Technology Risk Committee | Chair | $30,000 | — | | | | Other Members | $10,000 | — | | | Executive Committee | Chair | N/A | Lead Independent Director serves as Executive Committee Chair for no additional fee | | | | Other Independent Members | $25,000 | — |

  152. Compensation of Directors During 2026 Fiscal Year

    Each non-employee director may make an election to receive up to 100% of their annual retainer and committee fees in shares of restricted stock. For fiscal 2026, Ms. Siminoff and Messrs. Gordon and Viera elected to receive 100% of these fees in restricted stock.

  153. Compensation of Directors During 2026 Fiscal Year

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  154. COMPENSATION OF DIRECTORS DURING 2026 FISCAL YEAR

    COMPENSATION OF DIRECTORS DURING 2026 FISCAL YEAR

  155. Shift to Annual Grant Structure for Director Compensation

    Shift to Annual Grant Structure for Director Compensation In prior fiscal years, and through September 2025, the restricted stock portion of the annual retainer was granted in four equal quarterly installments and vested on the first anniversary of the grant date (discussed below). Grants of restricted stock were generally made on the fifth trading day following the filing of the Company’s Annual Report on Form 10-K or Quarterly Report on Form 10-Q, as applicable. The number of shares of restricted stock granted was determined by dividing the dollar value of the restricted stock to be delivered by the average of the closing prices of our common stock on the 30 trading days prior to the fifth trading day following the filing of the Company’s Annual Report on Form 10-K or Quarterly Report on Form 10-Q, as applicable. During fiscal 2026, the Company, upon the recommendation of the Compensation Committee’s independent compensation consultant and with the approval by the Board of Directors, decided to transition to an annual grant structure for the restricted stock portion of the annual retainer. The first annual grant was made on October 1, 2025, and future grants of restricted stock are planned to be made on October 1st of each year. The vesting of such annual grants will be on the first anniversary of the grant date. The number of shares of restricted stock to be granted pursuant to the annual grant will be determined by dividing the dollar value of the restricted stock to be delivered by the average of the closing prices of our common stock on the 30 trading days prior to October 1st. For fiscal 2026, the amounts listed in the Director Compensation Table below include two quarterly grants made in May 2025 (for service from April 1, 2025 to June 30, 2025) and August 2025 (for service from July 1, 2025 to September 30, 2025) under the old grant structure as well as the annual grant made in October 2025 (for service from October 1, 2025 to September 30, 2026) under the new structure. As a result, solely due to the shift in grant practice, the value of the stock awards set forth in the table below for fiscal 2026 represents the equivalent of six quarterly awards for each director, although the amount of compensation received on an annual basis did not increase. Under the 2017 Plan, the maximum value of awards granted to non-employee directors in any one calendar year, together with any cash fees paid to such directors during such calendar year in respect of such director’s service as a member of the Board of Directors during such year, may not, absent extraordinary circumstances, exceed $750,000 in total value. As determined by the Compensation Committee in its discretion, this limit may be increased for a non-executive chair of the Board of Directors or, in extraordinary circumstances, for other individual non-employee directors; provided that the non-employee director receiving such additional compensation may not participate in the decision to award such compensation.

  156. DIRECTOR COMPENSATION TABLE

    DIRECTOR COMPENSATION TABLE

  157. Director Compensation Table

    Director Compensation Table The following table sets forth information concerning the compensation of the Company’s non-employee directors during fiscal 2026.

  158. Director Compensation Table

    | Name | Fees Earned or Paid in Cash ($) | Stock Awards ($)(1) | Total ($) | | Michael Dornemann | 105,000 | 366,017 | 471,017 | | Roland Hernandez | 96,060 | 366,017 | 462,077 | | J Moses | 105,122 | 366,017 | 471,139 | | Michael Sheresky | 99,647 | 366,017 | 465,664 | | LaVerne Srinivasan | 165,000 | 521,768 | 686,768 | | Susan Tolson | 109,620 | 366,017 | 475,637 | | Paul Viera(2) | 85,000 | 366,017 | 451,017 | | William “Bing” Gordon(3) | 69,620 | 366,017 | 435,637 | | Strauss Zelnick(4) | — | — | — | | Ellen Siminoff(5) | 95,000 | 366,017 | 461,017 |

  159. Director Compensation Table

    (1)Represents the aggregate grant date fair value of awards granted to our directors during fiscal 2026, determined under ASC Topic 718, Compensation—Stock Compensation. For additional information with respect to stock awards granted during fiscal 2026, see Note 16 under the heading “Stock-Based Compensation” of the Notes to Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for fiscal 2026. The amounts above reflect the grant date fair value for these awards, excluding the accounting effect of any estimate of future forfeitures, and do not necessarily correspond to the actual value that might be recognized by the directors. As described above, in fiscal 2026, we transitioned to an annual restricted stock grant structure in October 2025 and so the amounts listed in this table include two quarterly grants made in May 2025 (for service from April 1, 2025 to June 30, 2025) and August 2025 (for service from July 1, 2025 to September 30, 2025) under the old grant structure as well as the annual grant made in October 2025 (for service from October 1, 2025 to September 30, 2026) under the new structure. As a result, solely due to the shift in grant practice, the value of the stock awards set forth in the table for fiscal 2026 represent the equivalent of six quarterly awards, although the amount of compensation received on an annual basis did not increase. As of March 31, 2026, Messrs. Dornemann, Gordon, Hernandez, Moses, Sheresky and Viera, and Mses. Siminoff, Srinivasan and Tolson held 1,483, 1,483, 1,483, 1,483, 1,483, 1,483, 1,483, 2,114, and 1,483 outstanding unvested restricted stock awards, respectively. (2)For fiscal 2026, Mr. Viera elected to receive all of his annual retainer and committee fees in shares of common stock. In accordance with SEC regulations, these amounts are reported in the table as fees earned or paid in cash, rather than as stock awards. On May 28, 2025, August 14, 2025, October 1, 2025 and January 1, 2026, respectively, 94, 92, 87 and 86 shares of stock were granted to Mr. Viera with grant date fair values of $21,463, $21,451, $22,220 and $22,019 respectively, as computed in accordance with ASC 718, Compensation—Stock Compensation. (3)For fiscal 2026, Mr. Gordon elected to receive all of his annual retainer and committee fees in shares of common stock. In accordance with SEC regulations, these amounts are reported in the table as fees earned or paid in cash, rather than as stock awards. On May 28, 2025, August 14, 2025, October 1, 2025 and January 1, 2026, respectively, 72, 70, 66, and 84 shares of stock were granted to Mr. Gordon with grant date fair values of $16,440, $16,321, $16,856, and $21,507, respectively, as computed in accordance with ASC 718, Compensation—Stock Compensation. (4)Mr. Zelnick serves as our CEO and therefore he does not receive any compensation for serving as a director. (5)For fiscal 2026, Ms. Siminoff elected to receive all of her annual retainer and committee fees in shares of common stock. In accordance with SEC regulations, these amounts are reported in the table as fees earned or paid in cash, rather than as stock awards. On May 28, 2025, August 14, 2025, October 1, 2025 and January 1, 2026, respectively, 105, 102, 97, and 96 shares of stock were granted to Ms. Siminoff with grant date fair values of $23,975, $23,782, $24,774, and $24,579, respectively, as computed in accordance with ASC 718, Compensation—Stock Compensation.

  160. Director Compensation Table

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  161. Treatment of Awards on Termination or Change in Control

    Treatment of Awards on Termination or Change in Control Upon a termination of the 2022 Management Agreement by the Company without Cause or by ZMC for Good Reason, or if the Company and ZMC fail to enter into a new management agreement on substantially similar terms in the aggregate as those provided under the 2022 Management Agreement upon the expiration of the MA Term, or otherwise fail to agree to extend the MA Term, any then-unvested Time-Based Awards will immediately vest in full, and any then-unvested Performance Awards will vest either (x) based on the assumption that the applicable performance measure was achieved at the target level of performance for the applicable performance period, or (y) prior to a Change in Control (as defined in the 2022 Management Agreement), solely for TSR Performance-Based Units (as defined in the applicable Restricted Unit Agreement), based on the actual level of performance achieved as of the date of termination. In the event that any portion of a Performance Award will not have vested as of the applicable performance vesting date, or upon a termination of the 2022 Management Agreement by the Company for Cause or by ZMC without Good Reason, ZMC will forfeit to the Company any and all Restricted Units that have not vested as of such date. In addition, ZMC will forfeit to the Company all then-unvested Time-Based Awards if the 2022 Management Agreement is terminated by the Company for Cause or by ZMC without Good Reason prior to the applicable time vesting date.

  162. Treatment of Awards on Termination or Change in Control

    | 76 | TAKE-TWO INTERACTIVE SOFTWARE, INC. | 2026 Proxy Statement |