GameStop chief executive Ryan Cohen buys $10.56 million of shares

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

Ryan Cohen, GameStop's chairman, president and chief executive, bought 450,000 shares of the company's Class A common stock on Sep 29 for $10.56 million, an average of $23.48 a share. The purchase is reported in a Form 4, the SEC filing in which a company's directors and officers report their own trades; Cohen signed it, and it was filed on Sep 29. The trade was an open-market purchase reported in lines of 446,500 shares at $23.48 and 3,500 shares at $23.45. The shares are held directly, and after the last purchase line the form states 40,948,522 Class A shares held directly. The form's Rule 10b5-1 box, which marks trades made under a pre-arranged trading plan, is not ticked; it is one answer for the whole form.1^,2^,3^,4^,5^,6^,7^,8^,9^,10^,11^,12^,13^,14^,15

Cohen's earlier Form 4s show purchases of 1,000,000 shares for $20.38 million on Sep 10 and of 1,150,680 shares for $26.39 million on Sep 21. He also bought 1,000,000 shares for $21.36 million in trades on Jan 20 and Jan 21. Including this one, his open-market purchases reported on Form 4s in the 12 months to the end of Sep 29 came to $78.69 million over 4 filings, with no open-market sales among the Form 4s we hold.16^,17^,18^,19^,20^,21^,22^,23^,24^,25^,26^,27^,28

In our records, the form we hold carries no footnotes and no remarks, so it gives no explanation of the trade beyond its lines. We hold a Form 4's lines and its checkbox, and we do not read holdings it reports without a transaction.29^,30