GameStop offers CEO Ryan Cohen a $35 billion compensation package tied to increasing market value and profit. Revenue has declined 35% since 2022. Cohen must grow market cap to $100 billion and hit $10 billion in EBITDA. Package includes no guaranteed pay, only stock options. Shares rose 4% on news.

Cohen’s package includes stock options for 171.5 million shares at $20.66 each, totaling nearly $35 billion, excluding $3.5 billion exercise cost. A rise in GameStop’s value would benefit Cohen beyond the package as he holds an 8.3% stake in the company.

Cohen, GameStop’s second-largest shareholder, became CEO in 2023 after steering the company back to profitability through aggressive cost-cutting. The package is divided into nine tranches, with each vesting after specific goals. Shareholders will vote on the award in March or April.

GameStop’s board and Cohen have agreed on the compensation package, which resembles Elon Musk’s at Tesla. Cohen’s success hinges on achieving ambitious targets amid the company’s recent revenue losses and stock price decline. Shareholders await the special meeting to approve the package.

Read more at Yahoo Finance: GameStop unveils $35 billion pay plan for CEO Cohen tied to lofty targets