Multiple GameStop executives, including executive chairman Daniel DeMatteo, sold thousands of company shares this month for big-time payouts. Below is a breakdown of the stock action, per information from Securities & Exchange Commission documents filed on September 19.
Daniel DeMatteo (GameStop executive chairman) -- Sold 150,000 shares at $43.6306, netting himself $6,544,590. After the sale, he retains 230,953 shares.
Steven Koonin (GameStop director) -- Sold 1,800 shares at $43.6327, netting himself $78,538.86. After the sale, he retains 17,820 shares.
Robert Lloyd (GameStop CFO) -- Sold 20,000 shares at $43.6342, netting himself $872,684. After the sale, he retains 221,040 shares.
Michael Mauler (GameStop VP of International) -- Sold 24,070 shares at $43.6279, netting himself $1,050,123.55. After the sale he retains 167,503 shares.
GameStop shares are currently trading at $42.10. We have reached out to GameStop's investor relations representative, asking for context surrounding the recent stock sale.
It is not uncommon for top company executives to sell stock, as a handful of Electronic Arts employees did just that back in May when EA shares climbed to a six-year high.
Just last week, GameStop announced major hiring plans for this holiday season. The c ompany plans to hire around 25,000 seasonal employees to help out over the next few months, which is flooded with high-profile new releases like Grand Theft Auto V for Xbox One and PlayStation 4, Call of Duty: Advanced Warfare, and Dragon Age: Inquisition, among a long list of others.
Eddie Makuch is a news editor at GameSpot, and you can follow him on Twitter @EddieMakuch
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