$GameStop (GME.US)$ On March 31, 2022, GameStop Corp. ("the Company" or "GameStop") announced plans to solicit shareholder approval at the upcoming 2022 Annual Meeting of Shareholders ("Annual Meeting") to increase the number of authorized shares of Class A common stock from 300,000,000 to 1,000,000,000 by amending the Company's Third Amended and Restated Certificate of Incorporation ("Charter Amendment"), allowing for a stock split of the Company’s Class A common stock in the form of a stock dividend and providing flexibility for future corporate needs. GameStop also intends to request shareholder approval at the Annual Meeting for a new incentive plan ("2022 Equity Plan") to support future compensatory equity issuances. If the 2022 Equity Plan is approved by shareholders, it will replace the current GameStop Corp. 2019 Incentive Plan ("2019 Plan"), and 8 million shares of the Company’s Class A common stock, plus any shares that expire under the 2019 Plan, will be forfeited, canceled, terminated, or cash-settled upon the effectiveness of the 2022 Plan and may be issued under the 2022 Plan. The Board of Directors of GameStop has approved both shareholder proposals, but the stock dividend remains subject to final board approval.
The Company’s definitive proxy statement related to the Annual Meeting will include further details on the Charter Amendment and the 2022 Equity Plan.