share_log

GameStop | 8-K: Separation Agreement and Mutual Release of Claims

SEC announcement ·  Apr 5 04:19
Summary by Futu AI
On April 4, 2024, GameStop Corp. announced the departure of Nir Patel, the company's Chief Operating Officer, effective immediately. The separation was formalized through a Separation Agreement and Mutual Release of Claims. As part of the agreement, Patel will receive a lump sum payment, which includes ten weeks of base salary, two months' worth of COBRA premiums, and thirty percent of the unearned portion of his sign-on bonus. Additionally, thirty percent of Patel's equity awards scheduled to vest in the six months following his departure will be accelerated. GameStop has stated that Patel's responsibilities will be taken over by other members of the management team. The full text of the Separation Agreement was included as an exhibit in the Form 8-K filed with the SEC, and the company has offered to furnish a copy of the omitted exhibit upon request.
On April 4, 2024, GameStop Corp. announced the departure of Nir Patel, the company's Chief Operating Officer, effective immediately. The separation was formalized through a Separation Agreement and Mutual Release of Claims. As part of the agreement, Patel will receive a lump sum payment, which includes ten weeks of base salary, two months' worth of COBRA premiums, and thirty percent of the unearned portion of his sign-on bonus. Additionally, thirty percent of Patel's equity awards scheduled to vest in the six months following his departure will be accelerated. GameStop has stated that Patel's responsibilities will be taken over by other members of the management team. The full text of the Separation Agreement was included as an exhibit in the Form 8-K filed with the SEC, and the company has offered to furnish a copy of the omitted exhibit upon request.

The information provided by Futu AI is automatically generated by third-party artificial intelligence (AI) software based on news content. It is only available to users located outside of China mainland.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.