GameStop CEO Cohen drops $35B bonus plan amid eBay bid push, shareholder lawsuit

GameStop Corp (NYSE:GME)'s committee has scrapped a projected CEO show grant aft a petition from CEO Ryan Cohen, who said helium wants enactment focused connected the company's operating show and its pursuit of online marketplace eBay.

The award, approved successful January 2026, would person paid Cohen arsenic overmuch arsenic $35 cardinal if GameStop reached a marketplace capitalization of $100 billion.

Its removal comes arsenic the video crippled retailer faces mounting capitalist backlash implicit its unsolicited $56 cardinal bid for eBay, a institution astir 4 times GameStop's size.

eBay's committee has already rejected the connection arsenic "neither credible nor attractive," citing concerns implicit financing and leadership.

GameStop said it plans to merchandise further details this week connected the strategical rationale for the projected acquisition, including however the 2 companies could acceptable unneurotic and what a combined concern mightiness look like. The institution stressed the update does not represent an connection oregon solicitation tied to the transaction.

Legal unit is besides building. The City of Pontiac General Employees' Retirement System has filed a projected class-action suit successful Delaware, alleging the committee manipulated voting rules to favour insiders up of a shareholder vote. A abstracted capitalist suit had sought to intermission the bonus program pending fuller shareholder disclosures.

GameStop has denied that the eBay bid was motivated by the show award's $100 cardinal marketplace headdress threshold.