Thanks to a new Hestia and Permit Capital investor presentation, we are learning tons of information regarding GameStop which has led the capital fund to issue a Restore GameStop campaign.
In this presentation, we learned that 13% of GameStop’s 2019 fiscal year end market capitalization went to bonuses for executives. From February 2018 to October 2019, the company paid out a total of $32 million in compensation to executives. Some of the bigger payouts include $4.2 million to Tony D. Bartel after resigning as COO, $5.1 million to Robert A. Lloyd after resigning as COO and CFO, and a $10.5 signing bonus to George E. Sherman after being appointed to CEO back in April 2019.
Hestia and Permit Capital Enterprise Fund collectively own 7.2% of GameStop outstanding shares.