GameStop's CEO George Sherman is leaving the company this year, and he's exiting the video game retailer with a package that could be worth a giant sum of money.
GameStop disclosed in a regulatory filing that Sherman--who started with GameStop in 2019--will become entitled to "accelerated vesting" of his outstanding time-vested shares of restricted stock units. According to The Wall Street Journal, Sherman has banked more than 1.12 million of these restricted stock shares, valued at more than $184 million this week.
Sherman will receive the payout when he leaves GameStop officially, and he must also remain in compliance with his "confidentiality, non-compete, non-solicitation, and other protective covenants included in his employment agreement," according to GameStop.
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