GameStop (NYSE: GME) CEO Ryan Cohen asked the board to remove his proposed performance award, worth up to $35 billion if all targets were met, from the company’s proxy statement, redirecting leadership’s full attention toward the proposed eBay acquisition.
The board approved the CEO Performance Award in January 2026, before GameStop committed to pursuing eBay
The board then granted Cohen’s request, and GameStop filed a supplemental proxy amendment with the Securities and Exchange Commission. The withdrawal signals that the proposed takeover now defines the company’s strategic direction. The award required GameStop to reach a $100 billion market cap and $10 billion in cumulative EBITDA before any shares would vest.
By forfeiting it now, Cohen eliminates a governance distraction ahead of the July 7 annual shareholder meeting. Cohen Withdraws Award to Focus on eBay Acquisition Cohen stated that leadership should remain “fully focused” on GameStop’s operating performance and the acquisition bid. GameStop plans to release additional materials this week.