Ryan Cohen lifts GameStop (NYSE: GME) stake and presses CEO stock buying

Rhea-AI Filing Summary

GameStop Corp. shareholder Ryan Cohen has updated his ownership disclosure, reporting beneficial ownership of 42,082,626 shares of Class A common stock, including 3,734,784 shares underlying warrants. This represents about 9.3% of GameStop’s outstanding shares, based on 448,009,480 shares outstanding as of December 5, 2025.

On January 21, 2026, Cohen purchased an additional 500,000 shares in open-market transactions at a weighted average price of $21.6010 per share, with individual trades between $21.5479 and $21.6100. He also states a strong governance view that a public company’s chief executive officer should buy company shares in the open market with personal funds to align with stockholders, and that any CEO who fails to do so should be fired.

Insights

Equity ownership and governance analyst

Cohen lifts his GameStop stake to 9.3% and signals strong views on CEO stock ownership.

Ryan Cohen now reports beneficial ownership of 42,082,626 GameStop shares, including 3,734,784 shares underlying warrants, representing about 9.3% of outstanding shares based on 448,009,480 shares as of December 5, 2025. This confirms his role as a significant shareholder with meaningful influence potential.

The filing notes that 38,347,842 shares were purchased with personal funds for an aggregate price of about $128,210,281, while the warrants were received via a prior warrant dividend. On January 21, 2026, he added 500,000 shares in open-market trades at a weighted average price of $21.6010 per share, indicating continued buying interest at that price range.

Cohen also articulates a strong governance stance: he believes a chief executive officer should buy company stock in the open market with personal funds to align with stockholders and that a CEO who does not do so should be fired. This statement highlights his expectations for insider ownership and may shape how he evaluates GameStop’s leadership in future company communications and filings.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 14)

GameStop Corp.

(Name of Issuer)

Class A Common Stock, $0.001 par value per share

(Title of Class of Securities)

36467W109

(CUSIP Number)

RYAN NEBEL
OLSHAN FROME WOLOSKY LLP, 1325 Avenue of the Americas
New York, NY, 10019
212-451-2300

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

01/21/2026

(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).

SCHEDULE 13D

CUSIP No. 36467W109

1

Name of reporting person

Cohen Ryan

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)

PF, OO

5

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

6

Citizenship or place of organization

CANADA (FEDERAL LEVEL)

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 42,082,626.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 42,082,626.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

42,082,626.00

12

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

13

Percent of class represented by amount in Row (11)

9.3 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Class A Common Stock, $0.001 par value per share
(b)	Name of Issuer: GameStop Corp.
(c)	Address of Issuer's Principal Executive Offices: 625 WESTPORT PARKWAY, GRAPEVINE, TEXAS , 76051.
Item 3.	Source and Amount of Funds or Other Consideration
	Item 3 is hereby amended and restated to read as follows: The Shares directly owned by Mr. Cohen were purchased with personal funds (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business). The aggregate purchase price of the 38,347,842 Shares directly owned by Mr. Cohen is approximately $128,210,281, excluding brokerage commissions. Mr. Cohen also owns 3,734,784 Warrants, which Mr. Cohen received from the Issuer for no consideration pursuant to a warrant dividend distribution to the Issuer's stockholders (as further explained in Amendment No. 12 to the Schedule 13D).
Item 4.	Purpose of Transaction
	Item 4 is hereby amended to add the following: The Reporting Person believes that it is essential for the Chief Executive Officer of any public company to purchase shares of such company in the open market with his or her own personal funds in order to further strengthen alignment with stockholders. The Reporting Person believes that any Chief Executive Officer who fails to do so should be fired.
Item 5.	Interest in Securities of the Issuer
(a)	Item 5(a) is hereby amended and restated to read as follows: The aggregate percentage of Shares reported owned by the Reporting Person is based upon 448,009,480 Shares outstanding as of December 5, 2025 as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on December 9, 2025, plus the Shares underlying the Warrants that may be exercised by the Reporting Person. As of the date hereof, Mr. Cohen directly beneficially owned 42,082,626 Shares, including 3,734,784 Shares underlying the Warrants, constituting approximately 9.3% of the Shares outstanding.
(c)	Item 5(c) is hereby amended and restated to read as follows: On January 21, 2026, Mr. Cohen purchased an aggregate of 500,000 Shares at a weighted average price of $21.6010 per Share in multiple transactions at prices ranging from $21.5479 to $21.6100, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of securities purchased at each separate price. All of such transactions were effected in the open market. Except as otherwise disclosed herein, there have been no transactions in securities of the Issuer by the Reporting Person since the filing of Amendment No. 13 to the Schedule 13D.

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.

Cohen Ryan

Signature:	/s/ Ryan Cohen
Name/Title:	Ryan Cohen
Date:	01/21/2026

FAQ

How many GameStop (GME) shares does Ryan Cohen currently beneficially own?

Ryan Cohen beneficially owns 42,082,626 shares of GameStop Class A common stock, including 3,734,784 shares underlying warrants, representing about 9.3% of the outstanding shares.

What percentage of GameStop (GME) does Ryan Cohen’s 42,082,626 shares represent?

Ryan Cohen’s 42,082,626 beneficially owned shares constitute approximately 9.3% of GameStop’s outstanding shares, based on 448,009,480 shares outstanding as of December 5, 2025.

Did Ryan Cohen recently buy more GameStop (GME) shares?

Yes. On January 21, 2026, Ryan Cohen purchased an aggregate of 500,000 GameStop shares in open-market transactions at a weighted average price of $21.6010 per share, with prices ranging from $21.5479 to $21.6100.

How did Ryan Cohen acquire his GameStop (GME) warrants?

Ryan Cohen owns 3,734,784 GameStop warrants, which he received from the company for no consideration as part of a warrant dividend distribution to stockholders described in a prior amendment.

What is Ryan Cohen’s view on CEOs buying their own company’s stock?

Ryan Cohen states that it is essential for the chief executive officer of any public company to purchase shares in the open market with personal funds to align with stockholders, and he believes any CEO who fails to do so should be fired.

What funds did Ryan Cohen use to buy his GameStop (GME) shares?

The 38,347,842 shares directly owned by Ryan Cohen were purchased with his personal funds, which may at times include margin loans from brokerage firms, for an aggregate purchase price of about $128,210,281 excluding commissions.