GameStop CEO Ryan Cohen has forfeited a $30 billion pay package tied to the company's stock performance as he pursues a $55.5 billion bid for eBay. The compensation, a CEO Performance Award that would vest only if GameStop's share price reached extraordinary levels, was disclosed as a material dilution risk in the company's Q1 FY26 filing. Cohen's offer, made on May 4, 2026, at $125 per share and structured as 50% cash and 50% stock, was rejected by eBay's board within eight days as neither credible nor attractive. The bid faces significant skepticism, with Michael Burry exiting his GameStop stake, Steve Eisman calling the deal highly improbable, and Polymarket pricing the odds of success at just 13%. GameStop's Q1 results showed revenue up 14% to $835.3 million and collectibles revenue surging 65%, while the company holds $7.4 billion in cash against $3.75 billion in convertible notes.
GameStop Corp.Cohen forfeited $30B pay package tied to stock performance, bid rejected, Burry exited, Eisman skeptical.
eBay InceBay rejected Cohen's $55.5B bid as not credible, and the deal faces low odds (13% Polymarket).
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