Author Bio
Rhian Hunt grew up in a crowded Connecticut suburb before moving to Wisconsin, where he enjoys being an outdoorsman, relishing the struggle against mountainous snowfalls during the eternal-seeming winters and aerial armadas of mosquitoes over the summer. Rhian studied Business Economics and Microeconomics at the University of Wisconsin. A lifelong interest in writing led to first professional freelancing, then becoming a Motley Fool author.
As major changes at recent short-squeeze target
GameStop (NYSE:GME) continue, its current CEO George Sherman is forefeiting over half-a-million shares originally given to him as an incentive. The 587,000 shares GameStop has decided to repossess are worth approximately $98 million at yesterday s market-closing price of roughly $167, Business Insider says.
Gamestop Corporation (NYSE:GME), Amazon com, Inc (NASDAQ:AMZN) - GameStop CEO Forfeits $98M Worth Of Shares For Not Meeting Stated Performance Target Amid Rumors Of Ousting
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GameStop CEO George Sherman Forfeits $100 Million in Stock Awards
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April 15, 2021
published at 5:20 AMReuters
A GameStop store is pictured in the Manhattan borough of New York City, New York, US, Jan 29, 2021.
Reuters
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 (April 14).
The forfeited shares, originally granted in April 2019, would be worth about $98 million (S$131 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.
GameStop CEO forfeits over 587,000 shares for not meeting targets
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