ZMC, the firm where Take-Two CEO Zelnick is a partner, sells $47.51 million of shares to cover partners' taxes

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

ZMC Advisors, L.P., a firm of which Take-Two Interactive chairman and chief executive Strauss Zelnick is a partner, sold 208,969 Take-Two shares on Jun 1, 2026. The shares sold for $47.51 million, an average of $227.34 a share, according to a Form 4, the filing that insiders send the SEC to report their trades, filed on Jun 3, 2026. The form lists ZELNICK STRAUSS as the reporting owner and is signed Strauss Zelnick. The shares were held indirectly, through ZMC, so the seller was the firm and not Zelnick personally.1^,2^,3^,4^,5^,6^,7^,8^,9^,10^,11

The form says the sales were made to satisfy the tax obligations of ZMC's partners arising from the vesting of 418,774 restricted units that Take-Two had granted to ZMC. The units vested on Jun 1, 2026, and were granted under a management agreement between Take-Two and ZMC dated effective May 23, 2022. The footnotes say all of the sales were made under a Rule 10b5-1 trading plan, a plan set up in advance, adopted by ZMC on Nov 17, 2025. The form's Rule 10b5-1 box is ticked, which is one answer for the whole form.12^,13^,14^,15^,16^,17

The sales are reported in 8 lines, split by price, at weighted average prices from $224.44 to $231.01. After the last sale line, the form's table shows 1,006,021 held indirectly through ZMC; a footnote to its first line (the forfeiture) says the holding before the sales was 796,216 restricted units and 418,774 shares of common stock, so the table's total is not all shares. Zelnick disclaims beneficial ownership of the securities ZMC holds except to the extent of his pecuniary interest in them.11^,18^,19^,20^,21^,22^,23^,24

The form also reports lines that are not sales and are not part of the $47.51 million. Those lines are the forfeiture of 64,812 performance-based restricted units for failing performance conditions, a distribution by ZMC of 209,805 shares to its employees for no value, 85,850 of them to Zelnick, and the grant of 329,949 restricted units to ZMC on Jun 1, 2026. Zelnick then contributed the 85,850 shares to the Zelnick/Belzberg Living Trust for no consideration, which the form reports as a gift.25^,6^,26^,27^,28^,29

Take-Two, listed as NASDAQ: TTWO, publishes games including Red Dead Redemption 2 through Rockstar Games, Borderlands 4 and NBA 2K27 through 2K, and Toon Blast through Zynga. In the 12 months to the end of Jun 3, 2026, counting what we held by the end of Oct 13, 2026, 41 Form 4s report open-market sales by Take-Two insiders worth $143.25 million, each trade counted once, and 0 report open-market purchases. Over the same window, Form 4s whose first reporting owner is Zelnick show 4 filings with open-market sales worth $90.94 million, counting shares held through a firm or a trust.30^,31^,32^,33^,34^,35^,36^,37^,38^,39

Our records hold no Form 4/A of this filing that passed our checks, so its lines are as first filed. Holdings that the form reports without a transaction are not read.40^,41