GameStop's Ryan Cohen May Earn An Astonishing $35 Billion Through The Latest GME Share Proposal

GameStop Grabs Headlines Again in 2026

GameStop Corporation (NYSE: GME) is once more in the spotlight, ranking among the most actively traded stocks on Wednesday morning and experiencing a surge in Google searches—this time, it’s not the meme frenzy of 2021. Let’s explore what’s fueling renewed interest in GME as 2026 begins.

Ryan Cohen’s New Incentive Plan as GameStop CEO

Under the leadership of CEO Ryan Cohen, GameStop has broadened its focus beyond video games, finding growth in areas like collectibles and trading cards. Cohen’s strategy to diversify the company’s operations has contributed to improved financial results in recent quarters.

After revealing a 9% ownership stake in GameStop in August 2020, Cohen played a key role in reviving enthusiasm for the stock. The meme stock phenomenon and short squeeze of 2021 brought even more attention, especially as many investors had previously dismissed GameStop’s brick-and-mortar business.

Since taking on the CEO role in September 2023 and serving as Chairman since June 2021, Cohen now stands to benefit from a newly announced shareholder compensation plan that could reward him beyond his current holdings.

The company’s Board of Directors has approved a stock option package for Cohen, which will only vest if specific performance targets are achieved. Notably, Cohen will not receive a salary, cash bonuses, or time-based stock awards. Instead, his compensation is entirely performance-driven—he’ll only be paid if GameStop meets ambitious milestones.

“This structure ensures that Mr. Cohen’s incentives are directly aligned with creating long-term value for GameStop’s stockholders,” the company stated. GameStop credits Cohen’s leadership with driving a turnaround, resulting in improved financial health and operational efficiency.

If all targets are met, Cohen could be granted options to purchase 171,537,327 shares of GME at $20.66 per share. The plan is divided into nine tranches, each requiring the company to reach both a market capitalization and a cumulative EBITDA milestone.

Vesting Milestones for Cohen’s Compensation

To unlock the full award, GameStop must achieve a $100 billion market cap and $10 billion in cumulative EBITDA. According to Reuters, if all milestones are met, Cohen’s compensation could total approximately $35 billion.

Since Cohen joined the board, GameStop’s market value has soared from $1.3 billion to $9.3 billion—a 615% increase. The company also swung from a net loss of $381.3 million in fiscal 2021 to a net profit of $421.8 million over the most recent four quarters.

This compensation plan was developed with input from an external advisory firm and still awaits shareholder approval, with a special meeting anticipated in March or April 2026. Cohen will abstain from voting on the proposal.

GameStop’s Store Closures in 2026

As part of its ongoing transformation, GameStop is shuttering hundreds of stores at the start of 2026.

According to local news, social media posts, and emails, various locations are closing. These new closures add to the many stores already shut down as part of a “store portfolio optimization review.”

GameStop’s third-quarter earnings showed that 590 U.S. stores were closed in the last fiscal year. A December SEC filing indicated that even more locations would close during fiscal 2025, ending January 31, 2026.

While there’s no official list of affected stores, reports based on media and social posts show that 223 stores were confirmed closed in January alone.

Some customers, including the author, have received emails from GameStop about local store closures. One such message read: “Thanks for all the awesome memories! Swing by for one last hurrah or ask about the status of your in-store pre-orders and PSA submissions.” The closure date for this particular store is January 15, 2026.

GME Stock Performance

On Wednesday, GameStop shares rose 4.7% to $21.63, trading within a 52-week range of $19.93 to $35.81. Despite the recent uptick, the stock is down 35.2% over the past year.