GameStop's Ryan Cohen Could Pocket A Staggering $35 Billion From New GME Stock Plan

GameStop Corporation (NYSE:GME) is once again grabbing market attention, trending among the most active stocks Wednesday morning and spiking on Google—and no it’s not 2021.

Here's what’s driving the attention for GME stock to start 2026.

GameStop CEO Ryan Cohen New Compensation Plan

GameStop has diversified its business outside video games with growth coming from collectibles and trading cards. Cohen has emphasized expanding the company's operations beyond video games, which has helped GameStop's financials in recent quarters.

GameStop CEO Ryan Cohen disclosed a 9% stake in GameStop in August 2020 and helped boost interest in the stock. The 2021 meme stock rally and GME’s short squeeze drew more attention to the company, as some hedge funds and investors had written off its struggling physical retail business.

Now serving as GameStop’s CEO since September 2023 and Chairman since June 2021, Cohen could be financially rewarded beyond his existing stake in the company under a new shareholder compensation package announced.

GameStop announced that its Board of Directors has granted Cohen a stock option award that will vest based on certain milestones. Cohen will receive no salary, no cash bonuses, and no stock that vests over time.

Cohen's future compensation will be "at risk," with the CEO paid only if certain milestones are met.

"This structure ensures that Mr. Cohen's incentives are directly aligned with creating long-term value for GameStop's stockholders," the company said.

The company praised the turnaround of GameStop under Cohen's leadership that has resulted in "financial health and operational efficiency."

Cohen could receive total stock options to purchase 171,537,327 GME shares at a price of $20.66. The compensation plan features nine tranches that would vest if the company meets both a market capitalization milestone and a cumulative EBITDA milestone.

The following table from the company summarizes the vesting tranches and the required milestones for each:

TRANCHE	% OF AWARD	MARKET CAP HURDLE	CUMULATIVE PERFORMANCE EBITDA HURDLE
1	10%	$20 Billion	$2 Billion
2	10%	$30 Billion	$3 Billion
3	10%	$40 Billion	$4 Billion
4	10%	$50 Billion	$5 Billion
5	10%	$60 Billion	$6 Billion
6	10%	$70 Billion	$7 Billion
7	10%	$80 Billion	$8 Billion
8	15%	$90 Billion	$9 Billion
9	15%	$100 Billion	$10 Billion

For Cohen to receive the full compensation award, GameStop's market capitalization would have to hit $100 billion, and the cumulative EBITDA would have to hit $10 billion.

Cohen's compensation could come in at around $35 billion if all milestones are met, Reuters reports.

GameStop's market capitalization has gone from $1.3 billion to $9.3 billion, up 615%, since Cohen joined the company's Board of Directors. The company also went from a net loss of $381.3 million in fiscal 2021 to net income of $421.8 million over the last four fiscal quarters.

The board created the compensation plan with the consultation of a third-party advisory firm. It still requires approval from shareholders with a special meeting expected in either March or April 2026. Cohen is recusing himself from the vote.

GameStop Store Closures

To start 2026, GameStop is closing hundreds of stores as part of its ongoing turnaround efforts.

A report from Fast Company said local media reports, signs at closed stores shared on social media and emails are circulating showing which locations have closed. The new closures add to hundreds of locations previously closed as part of a "store portfolio optimization review."

During its third-quarter earnings report, GameStop reported closing 590 U.S. stores in the last fiscal year. A December SEC filing said the company would close a "significant number of additional stores" during the 2025 fiscal year, which ends on Jan. 31, 2026.

While there is no official list of which stores are closing, the GameStop Closing blog lists those impacted based on local media reports and social media posts. The total for January is listed at 223 stores confirmed.

This author received an email from GameStop notifying them of a nearby store closing.

"Thanks for all the awesome memories! Swing by for one last hurrah or ask about the status of your in-store pre-orders and PSA submissions," the email says.

The closing date for this location in question is listed as Jan. 15, 2026.

GameStop Stock Surges

GameStop stock is up 4.7% to $21.63 on Wednesday, within its 52-week trading range of $19.93 to $35.81. GameStop shares are down 35.2% over the past year.