GameStop unveils Elon Musk-type $35B pay package for CEO Ryan Cohen — but there's a catch

Core Viewpoint - GameStop has introduced a compensation package valued at approximately $35 billion for CEO Ryan Cohen, contingent on achieving significant growth in market value and profitability [1][4][8] Company Performance - GameStop's annual revenue has decreased by over 35% since 2022, and its stock price has fallen by 80% from the all-time highs reached in 2021 [2][7] - The current market capitalization of GameStop stands at $9.26 billion, a stark contrast to the peak of about $34 billion during the 2021 meme stock rally [5][8] CEO Compensation Package - The new pay plan for Ryan Cohen includes ambitious targets, requiring the market capitalization to reach $100 billion and cumulative performance EBITDA to hit $10 billion [4][11] - Cohen's compensation is entirely performance-based, consisting of stock options for over 171.5 million shares at a price of $20.66 per share, with no guaranteed salary or cash bonuses [7][11] - The compensation package is structured in nine tranches, each linked to specific performance goals [11] Shareholder Involvement - GameStop's board has reached an agreement with Cohen regarding the compensation package, which will require shareholder approval at a special meeting anticipated in March or April [12]