Updated
Updated · Bloomberg · Jun 16GameStop Investor Sues to Halt $35 Billion Cohen Pay Vote Before July 7
1 articles · Updated · Bloomberg · Jun 16Summary
- A GameStop investor asked a court to stop a July 7 shareholder vote on CEO Ryan Cohen’s proposed $35 billion compensation package.
- The suit argues shareholders have not received proper disclosures about stock option awards the board approved for Cohen.
- Those options could deliver a multibillion-dollar windfall if Cohen meets aggressive performance milestones set by the company.
- The challenge puts GameStop’s unusually large CEO pay plan under legal scrutiny before investors decide whether to approve it.
Insights
Will GameStop's plan to triple its shares create value or just dilute investors to fund the CEO's record-breaking options? Is the audacious eBay bid a masterstroke for GameStop's growth or a gambit for the CEO's $35 billion payout?