GameStop Requests Increase in Share Count

Dow Jones05-22 22:53

By Christopher Kuo

GameStop asked its shareholders to approve an increase in its share count.

The video game retailer made the request in a Friday letter to shareholders, in which the company's board also proposed giving its chief executive, Ryan Cohen, a 100% performance-based option award.

"A reserve of authorized shares ensures GameStop can act decisively when the right opportunity arises," the company said in the letter.

Cohen earlier this month made an unsolicited offer to buy eBay for roughly $56 billion. The offer was rejected by eBay as "neither credible nor attractive." Cohen maintained that he would keep trying to pursue a deal, and earlier this week GameStop said in a filing that it now controls the equivalent of 6.55% of eBay's outstanding shares, up from around 5%.

Write to Christopher Kuo at chris.kuo@wsj.com

(END) Dow Jones Newswires

May 22, 2026 10:53 ET (14:53 GMT)

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