secwatch.observer — SEC 8-K summary
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Issuer:     GameStop Corp. (GME)
CIK:        0001326380
Form:       8-K
Filed at:   2022-05-16T23:59:59+00:00
Accession:  0001326380-22-000048
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

GameStop appoints Nir Patel as COO, effective May 31, 2022; packages total $3.4M cash + $35M in RSUs
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- Nir Patel, former Belk CEO and Kohl's executive, becomes GameStop COO effective May 31, 2022.
- Base salary $200k; sign-on bonus of $3.4M payable bi-weekly over 24 months; relocation up to $200k.
- Initial RSU grant of ~$14M (5yr vest: 10/20/23.3/23.3/23.3%) and buyout RSU grant of ~$21M (3yr vest: 1/3 per year).
- Severance includes 6 months salary, COBRA, unpaid bonus installments, and accelerated vesting of certain RSUs if terminated without cause.
- Patel brings two decades of retail experience in operations, merchandising, and supply chain.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1326380/000132638022000048/0001326380-22-000048-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1326380/000132638022000048/gme-20220512.htm
  HTML page:      https://secwatch.observer/filing/0001326380-22-000048

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer