April 15, 2021 10:03:28 am
GameStop Corp Chief Executive Officer George Sherman has forfeited more than 587,000 shares as he failed to meet his performance targets, according to a regulatory filing on Wednesday.
The forfeited shares, originally granted in April 2019, would be worth about $98 million based on the stock’s latest closing price.
GameStop is currently looking for a new CEO to replace Sherman as it pivots from a brick-and-mortar video game retailer to an e-commerce firm, Reuters reported on Monday, citing three sources.
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