GameStop Corporation
08/11/2025 | Press release | Distributed by Public on 08/11/2025 04:46
Management Change/Compensation (Form 8-K)
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 8, 2025, GameStop Corp. (the "Company") entered into a letter agreement with Daniel Moore (the "Offer Letter") that includes an increase in Mr. Moore's compensation. Pursuant to the Offer Letter, all equity awards previously granted to Mr. Moore will continue to vest in accordance with their original terms, and Mr. Moore will be entitled to an additional grant, on August 11, 2025, of a number of restricted stock units of the Company's Class A common stock (the "Common Stock") determined by dividing $1,650,000 by the average closing price of the Common Stock for the 30 trading days immediately preceding the grant date (the "New Equity Award"). The New Equity Award will vest in eight installments beginning on September 1, 2025 and ending on July 1, 2027, in each case, subject to Mr. Moore's continued employment through the applicable vesting date.
The Offer Letter further provides that Mr. Moore's annual salary will remain $200,000, but, in order to maintain Mr. Moore's new target compensation near-term prior to the commencement of the vesting of the New Equity Award, he will receive a one-time cash bonus of $80,000.
Under the Offer Letter, if Mr. Moore's employment is terminated without Cause (as defined in the Offer Letter), he will be entitled to receive the following severance benefits: (i) an amount equal to six months of his base salary, (ii) an amount equal to six months of COBRA premiums for Mr. Moore and his eligible dependents, and (iii) the vesting of that portion of any equity award that was otherwise scheduled to vest in the ordinary course during the six month period immediately following his termination date. Mr. Moore's eligibility for these severance benefits is subject to his execution of a release of claims and his compliance with any applicable post-employment covenants.
The foregoing description of the Offer Letter is not complete and is qualified in its entirety by the full text of the Offer Letter, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
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