SCHEDULE: Ryan Cohen Boosts GameStop Stake to 9.2%

Ryan Cohen, a significant investor, increased his beneficial ownership in GameStop Corp. to 9.2% by purchasing an additional 500,000 shares.

Summary

• Ryan Cohen, the reporting person, increased his beneficial ownership in GameStop Corp.
• He now beneficially owns 41,582,626 shares, representing approximately 9.2% of the Class A Common Stock outstanding.
• This includes 3,734,784 shares underlying warrants received as a dividend distribution to stockholders.
• On January 20, 2026, Mr. Cohen purchased an additional 500,000 shares in the open market.
• The weighted average purchase price for these 500,000 shares was $21.1174 per share, with prices ranging from $20.8071 to $21.1997.
• The aggregate purchase price for the 37,847,842 shares directly owned by Mr. Cohen (excluding warrants) is approximately $117,409,775, excluding brokerage commissions.
• The percentage of shares owned is based on 448,009,480 shares outstanding as of December 5, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q.

Sentiment

Score: 7

Explanation: The filing indicates a significant insider, Ryan Cohen, increased his stake in GameStop, which is generally viewed as a positive signal of confidence in the company's prospects. This action could positively influence investor sentiment.

Positives

• A key insider, Ryan Cohen, increased his stake in GameStop, signaling confidence in the company's future.
• The purchase of 500,000 shares demonstrates a direct investment at current market prices.

Risks

• Personal funds used for share purchases may, at any given time, include margin loans made by brokerage firms, introducing leverage risk for the reporting person.

Future Outlook

This filing is a Schedule 13D amendment reporting a change in beneficial ownership and does not contain forward-looking statements or guidance from the company or the reporting person regarding future performance or strategy.

Industry Context

This filing reflects continued insider confidence in GameStop, a company often associated with the 'meme stock' phenomenon. Insider buying, especially from a prominent figure like Ryan Cohen, can be interpreted by retail investors as a positive signal, potentially influencing market sentiment for companies with significant retail investor interest.

Comparison to Industry Standards

• This filing is a disclosure of insider trading activity (beneficial ownership change) and does not contain financial results or operational metrics that can be directly compared to industry standards or specific comparable companies/projects. The action itself (insider buying) is a common occurrence across industries, but its impact is amplified for GameStop due to its unique market dynamics.

Stakeholder Impact

• Shareholders: May view Ryan Cohen's increased stake as a positive indicator, potentially boosting confidence and share price.
• Company Management: Could interpret the increased insider ownership as a vote of confidence in their strategic direction.

Next Steps

• Ryan Cohen undertakes to provide the Issuer, any security holder, or the SEC staff, upon request, full information regarding the number of securities purchased at each separate price.

Key Dates

Recommendation

Ryan Cohen's increased stake in GameStop signals insider confidence, which is generally a positive indicator. However, this Schedule 13D filing primarily reports a transaction and does not provide new fundamental financial or operational data to warrant a stronger recommendation. Investors should consider this insider buying in conjunction with GameStop's broader financial performance and strategic initiatives.

Keywords

GameStop, GME, Ryan Cohen, Schedule 13D, Insider Buying, Stock Purchase, Beneficial Ownership, Shareholder, Warrants