Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

GameStop CEO forfeits over 587,000 shares for not meeting targets

04/14/2021 | 09:06pm EDT
FILE PHOTO: A GameStop store is pictured in New York

(Corrects total value of forfeited shares in second paragraph to about $98 million, from $9.8 million)

(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.

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.

The company's stock is up almost 800% since January, benefiting from a push by retail investors on Reddit forums to drive up prices of heavily shorted stocks.

Chris Homeister, GameStop's chief merchandising officer, forfeited more than 119,000 shares for failing to meet targets, another filing showed.

(Corrects total value of forfeited shares in second paragraph to about $98 million, from $9.8 million)

(Reporting by Munsif Vengattil in Bengaluru; Editing by Devika Syamnath and Anil D'Silva)


ę Reuters 2021
Latest news "Economy & Forex"
06:36aNasdaq futures fall over 1% on inflation worries
RE
06:35aMuirfield Mechanical Releases Air Conditioning Installation Company FAQ
SE
06:30aWorst-paying blue chip employers bolstered CEO pay in pandemic, report says
RE
06:28aIndian shares end four-day rally on inflation worries
RE
06:27aHow much did Marvel heroes help lift Disney+? Answer due Thursday
RE
06:26aOptimism Among U.S. Small Businesses Rose in April -- NFIB
DJ
06:22aPCA PROPERTY COUNCIL OF AUSTRALIAá : Budget reveals population growth as biggest constraint on economy
PU
06:21aU.S. pipeline outage prompts refiners to book tankers to store fuel
RE
06:20aNew York remains winner in Brexit derivatives migration
RE
06:14aPandemic's labor reshuffle likely just starting for U.S. workers
RE
Latest news "Economy & Forex"