GameStop announced that its Board of Directors has granted a request from Ryan Cohen, the company’s Chairman and CEO, to amend its proxy statement and remove the proposed CEO Performance Award.
The company said the Board had approved the CEO Performance Award in January 2026.
The proposed CEO Performance Award was reportedly worth up to about $35 billion if all performance targets were achieved. It was a performance-based options package, not guaranteed cash compensation. Reuters described it as a potential $35 billion performance-based compensation package, and Barron’s said it would have granted Cohen options to buy over 171 million GameStop shares at $20.66 per share if milestones were met.
At that time, GameStop had not yet decided to pursue the proposed acquisition of eBay.
Cohen said he wants GameStop’s leadership team to remain fully focused on the company’s operating performance and its proposed eBay acquisition.
GameStop said additional details can be found in a supplement to the company’s proxy statement filed with the Securities and Exchange Commission.
The company also said it plans to release additional materials this week regarding its proposed acquisition of eBay.
Those materials are expected to include a detailed presentation covering the strategic rationale and operational plan for the combined company.
GameStop said the announcement relates to a proposed business combination involving GameStop and eBay.
The company noted that the communication is for informational purposes only and does not constitute an offer to sell or purchase securities or a solicitation of any proxy or vote.
