GameStop withdraws a $35 billion performance award for CEO Ryan Cohen as investor lawsuits and eBay bid scrutiny intensify.
GameStop Corp (GME) has abandoned a $35 billion performance-based bonus plan for CEO Ryan Cohen after he requested its removal. The award, approved in January 2026, would have paid Cohen if the company reached a $100 billion market capitalization.
The decision follows criticism over GameStop’s unsolicited $56 billion bid for eBay, which eBay’s board rejected as lacking credibility. Investors have also filed lawsuits alleging board misconduct, including claims of manipulated voting rules.
GameStop plans to release further details on its eBay bid strategy this week but emphasized the update is not a formal offer. The company denied the bid was tied to the bonus plan’s market cap threshold.