GameStop Corp. (NYSE:GME) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As previously reported, on November 13, 2017, the Board of Directors (the “Board”) of GameStop Corp. (the “Company”) appointed Daniel A. DeMatteo interim chief executive officer of the Company.
On December 18, 2017, the Company entered into a letter agreement with Mr. DeMatteo. The letter agreement increases Mr. DeMatteo’s annual rate of base salary from $300,000 to $900,000 and his target annual bonus opportunity from 150% to 200% of base salary, in each case for the period of his service as the Company’s interim chief executive officer. In addition, the letter agreement provides for the calculation of Mr. DeMatteo’s target annual bonus opportunity for fiscal year 2017 (and fiscal year 2018, if applicable) to be determined as the weighted average of his target annual bonus opportunities for the portions of year that he does and does not serve as the Company’s interim chief executive officer.
The terms of the letter agreement were approved by the independent directors of the Board, upon the recommendation of the Compensation Committee of the Board. A copy of the letter agreement is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
*Compensatory plan or arrangement.
GameStop Corp. ExhibitEX-10.1 2 a101dematteocompensationag.htm EX 10.1 INTERIM CEO COMPENSATION AGREEMENT Exhibit Exhibit 10.1 December 18,…To view the full exhibit click here
About GameStop Corp. (NYSE:GME)
GameStop Corp. is an omnichannel video game retailer. The Company sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. The Company operates its business in four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment. Each of the Video Game Brands segments consists of retail operations, with all stores engaged in the sale of new and pre-owned video game systems, software and accessories. Its Video Game Brands stores sell various types of digital products, including downloadable content, network points cards, prepaid digital, prepaid subscription cards and digitally downloadable software, and also sell certain mobile and consumer electronics products and collectible products. Its Technology Brands segment includes its Spring Mobile and Simply Mac businesses.
