GameStop grants CEO Ryan Cohen 171.5M performance-based options at $20.66 strike

GameStop Corp.

Award covers 171,537,327 options exercisable at $20.66 per share, vesting contingent on achieving escalating market cap ($20B-$100B) and cumulative EBITDA ($2B-$10B) hurdles.
Options vest in nine tranches; first requires $20B market cap and $2B cumulative EBITDA; additional tranches up to $100B market cap/$10B EBITDA.
Subject to stockholder approval; if not approved within 12 months of grant date, options are void.
In a change of control, EBITDA hurdles disregarded; market cap based on deal price; vesting may accelerate.
CEO must hold shares for two years after exercise, except to pay taxes or in change of control.

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