GameStop builds 9.8% eBay Inc. (NASDAQ: EBAY) stake using cash and options

Rhea-AI Filing Summary

GameStop Corp., a Delaware corporation, reports that it beneficially owns 43,390,383 shares of eBay Inc. common stock, representing approximately 9.8% of eBay’s outstanding shares based on 444 million shares outstanding as of April 24, 2026. GameStop has sole voting and sole dispositive power over all of these shares.

Between June 8 and June 15, 2026, GameStop purchased 3,516,077 eBay shares for a total of $381,301,906.81, including fees and expenses. On July 15, 2026 it elected to physically settle 39,046,658 shares underlying Put/Call Pairs, with settlement on July 17, 2026. For these Put/Call Pairs, the total net premium paid was $9,832,906.61, the aggregated final strike price was $101.295333, and total consideration for the related shares was $3,965,077,113.19, funded from cash in working capital with no borrowing for these purchases.

Key Figures

Beneficial ownership: 43,390,383 shares Ownership percentage: 9.8% Shares outstanding: 444 million shares +5 more

8 metrics

Beneficial ownership 43,390,383 shares Shares of eBay common stock beneficially owned by GameStop as of Amendment No. 4

Ownership percentage 9.8% Portion of eBay’s outstanding common stock represented by GameStop’s Subject Shares

Shares outstanding 444 million shares eBay common shares outstanding as of April 24, 2026 used to calculate GameStop’s percentage

June share purchases 3,516,077 shares eBay shares bought by GameStop between June 8, 2026 and June 15, 2026

Cost of June purchases $381,301,906.81 Total purchase price including fees and expenses for the 3,516,077 shares

Put/Call Pairs shares 39,046,658 shares Shares of eBay common stock underlying Put/Call Pairs that were physically settled

Net premium on Put/Call Pairs $9,832,906.61 Total net premium paid in the aggregate for the 39,046,658 Put/Call Pairs

Total consideration for Put/Call shares $3,965,077,113.19 Total consideration paid to acquire the 39,046,658 shares underlying the Put/Call Pairs

Key Terms

Schedule 13D, beneficially owns, Put/Call Pairs, physical settlement, +2 more

6 terms

Schedule 13D regulatory

"previously filed a statement on Schedule 13D to report the acquisition"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

beneficially owns financial

"the Reporting Person beneficially owns 43,390,383 shares of Common Stock"

Beneficially owns means a person or entity enjoys the economic benefits and control of a security even if the legal title or registration is held in another name. Think of it like having the keys and profits from a car that is registered to a friend: you use it, benefit from it, and make decisions about it even though the official paperwork lists someone else. For investors, this matters because it reveals who truly controls shares, affects voting power, potential conflicts of interest, and regulatory disclosure obligations.

Put/Call Pairs financial

"39,046,658 shares of Common Stock underlying the Put/Call Pairs"

physical settlement financial

"it was electing to physically settle all of the 39,046,658 shares"

Physical settlement is when the actual item, like a commodity or product, is delivered to the buyer after a trade, instead of just settling with money. For example, if you buy a barrel of oil through a contract with physical settlement, you will receive the oil itself. It matters because it ensures the real thing changes hands, not just the price.

sole dispositive power financial

"has the sole power to vote or direct the vote and to dispose"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

working capital financial

"source of funds used by GameStop to physically settle such shares of Common Stock was cash from its working capital"

Working capital is the money a business has available to cover its daily expenses, like paying bills and buying supplies. It’s like the cash in your wallet that helps you handle everyday costs; having enough ensures the business can operate smoothly without running into money shortages.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 07/17/2026 - 05:12 PM Accepted by SEC EDGAR 07/17/2026 - 05:12 PM Learn about SEC filing dates

FAQ

How many eBay (EBAY) shares does GameStop currently own?

GameStop currently beneficially owns 43,390,383 shares of eBay common stock. These "Subject Shares" are all under GameStop’s sole voting and sole dispositive power, giving it unilateral authority to vote and dispose of this entire stake in eBay.

What percentage of eBay (EBAY) does GameStop own and what is the share base?

GameStop’s eBay holdings represent approximately 9.8% of eBay’s outstanding common stock. This percentage is calculated using 444 million eBay shares outstanding as of April 24, 2026, as stated in eBay’s 2026 first-quarter Form 10-Q.

What recent open-market eBay (EBAY) share purchases did GameStop make?

Between June 8, 2026 and June 15, 2026, GameStop purchased 3,516,077 eBay common shares. The total purchase price for these transactions was $381,301,906.81, including fees and expenses, and these trades contributed to GameStop’s current 9.8% beneficial ownership position.

What are the key terms of GameStop’s put/call exposure to eBay (EBAY)?

GameStop elected to physically settle 39,046,658 eBay shares underlying Put/Call Pairs, with settlement on July 17, 2026. It paid aggregate net premiums of $9,832,906.61, with a final aggregated strike price of $101.295333 and total share consideration of $3,965,077,113.19.

How did GameStop finance its acquisition of eBay (EBAY) shares?

GameStop funded the acquisition and physical settlement of eBay shares using cash from its working capital. It states that no portion of the purchase price for these eBay common shares was borrowed for acquiring, holding, trading, or voting the securities described.

What control does GameStop have over its eBay (EBAY) stake?

GameStop has sole power to vote or direct the vote, and to dispose or direct the disposition, of all 43,390,383 eBay shares it beneficially owns. There is no shared voting or dispositive power reported over this eBay common stock position.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 4)

eBay Inc.

(Name of Issuer)

Common Stock, $0.001 par value per share

(Title of Class of Securities)

278642103

(CUSIP Number)

Mark H. Robinson
GameStop Corp., 625 Westport Parkway
Grapevine, TX, 76051
(817) 424-2000

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

07/15/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 278642103

1

Name of reporting person

GameStop Corp.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 43,390,383.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 43,390,383.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

43,390,383.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.8 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

Rounded up to the nearest tenth of a percent and based on the 444 million shares of Common Stock stated by the Issuer as being outstanding as of April 24, 2026 in its Form 10-Q, filed with the United States Securities and Exchange Commission on April 29, 2026 (the "2026 Q1 10-Q").

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, $0.001 par value per share
(b)	Name of Issuer: eBay Inc.
(c)	Address of Issuer's Principal Executive Offices: 2025 Hamilton Avenue, San Jose, CALIFORNIA , 95125.
Item 1 Comment: Explanatory Note: This Amendment No. 4 to Schedule 13D (this "Amendment No. 4") amends and supplements the Schedule 13D filed by the Reporting Person on May 4, 2026, as amended by Amendment No. 1 filed on May 19, 2026, Amendment No. 2 filed on May 28, 2026 and Amendment No. 3 filed on June 5, 2026 (the "Original 13D", and as so amended and supplemented by this Amendment No. 4, the "Schedule 13D") relating to the Common Stock of the Issuer. Capitalized terms used in this Amendment No. 4 but not otherwise defined shall have the respective meanings ascribed to them in the Original 13D.
Item 3.	Source and Amount of Funds or Other Consideration
	Item 3 to the Original 13D is hereby supplemented as follows: "Between June 8, 2026 and June 15, 2026, GameStop purchased 3,516,077 shares of Common Stock for a total purchase price of $381,301,906.81 including fees and expenses. On July 15, 2026, GameStop notified the Issuer that it was electing to physically settle all of the 39,046,658 shares of Common Stock underlying the Put/Call Pairs, which such physical settlement occurred July 17, 2026. The total net premium paid, in the aggregate, by the Reporting Person for the 39,046,658 Put/Call Pairs was $9,832,906.61 and the final strike price, on an aggregated and averaged basis, was $101.295333. The total consideration paid to acquire the 39,046,658 shares underlying the Put/Call Pairs was $3,965,077,113.19. The source of funds used by GameStop to physically settle such shares of Common Stock was cash from its working capital. No portion of the purchase price for such shares of Common Stock was borrowed by the Reporting Person for the purpose of acquiring, holding, trading or voting any securities discussed in this Item 3. To the knowledge of the Reporting Person, as of the filing of this Amendment No. 4, none of the executive officers or directors of the Reporting Person listed on Exhibit 99.3 have anything additional to disclose in response to this Item."
Item 4.	Purpose of Transaction
	Item 4 of the Original 13D is hereby supplemented as follows: "Item 3 to Amendment No. 4 is hereby incorporated by reference. To the knowledge of the Reporting Person, as of the filing of this Amendment No. 4, none of the executive officers or directors of the Reporting Person listed on Exhibit 99.3 have anything additional to disclose in response to this Item."
Item 5.	Interest in Securities of the Issuer
(a)	Item 5(a) of the Original 13D is hereby amended and restated in its entirety as follows: "As of the filing of this Amendment No. 4, the Reporting Person beneficially owns 43,390,383 shares of Common Stock (the "Subject Shares"). The Subject Shares represent approximately 9.8% of the Issuer's outstanding shares of Common Stock, based on the 444 million shares of Common Stock stated by the Issuer as being outstanding as of April 24, 2026 in the Issuer's 2026 Q1 10-Q. The Reporting Person has the sole power to vote or direct the vote and to dispose or to direct the disposition of all of the Subject Shares. To the knowledge of the Reporting Person, as of the filing of Amendment No. 4, none of the executive officers or directors of the Reporting Person listed on Exhibit 99.3 have anything additional to disclose in response to this Item."
(b)	Item 5(b) of the Original 13D is hereby amended and restated in its entirety as follows: "The response to Item 5(a) of Amendment No. 4 is incorporated herein by reference."
(c)	Item 5(c) of the Original 13D is hereby supplemented as follows: "Other than as described herein or on Exhibit 99.2 filed with Amendment No. 4, which is incorporated herein by reference, no transactions in the Common Stock were effected by the Reporting Person (or, to the knowledge of the Reporting Person, by any of the executive officers or directors of the Reporting Person listed on Exhibit 99.3) since the most recent filing on Schedule 13D by the Reporting Person."
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Item 6 to the Original 13D is hereby supplemented as follows: "Item 3 to Amendment No. 4 is hereby incorporated by reference. To the knowledge of the Reporting Person, as of the filing of this Amendment No. 4, none of the executive officers or directors of the Reporting Person listed on Exhibit 99.3 have anything additional to disclose in response to this Item."
Item 7.	Material to be Filed as Exhibits.
	Item 7 of the Original 13D is hereby amended and restated in its entirety as follows: "Exhibit 99.1 Offer Letter, dated as of May 3, 2026.* Exhibit 99.2 Trading Data. Exhibit 99.3 Names of the Executive Officers and Directors of the Reporting Person.* Exhibit 99.4 Form of Put/Call Pair Supplemental Confirmation.* Exhibit 99.5 Form of Put/Call Pair Pricing Notification.* * Previously filed"

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

GameStop Corp.

Signature:	/s/ Mark H. Robinson
Name/Title:	Mark H. Robinson/General Counsel
Date:	07/17/2026