One of the common lines in a lot of talk about GameStop (GME) stock or corporate business dealings recently is that the company will be holding its annual stockholder’s meeting in June 2021. A lot of things are expected to happen around that time, including the resignation of various directors and installation of various executives and Board members. GameStop officially filed a 14A form confirming the date of the meeting, as well as highlighting details such as sizable insider and institutional stock ownership.
GameStop recently filed the 14A form which solidified its 2021 Annual Stockholder meeting fairly recently. It officially sets the stockholder meeting date as June 9, 2021. The filing also contained interesting tidbits of information, such as the breakdown of current majority shareholders with the company. There is a notable amount of institutional stock ownership noted on the list, such as majority shareholder BlackRock Inc., which holds 9,217,335 shares, making up 13 percent of overall shares. There’s also notable amounts of insider stockholding, such as that of soon-to-be Board Chairman Ryan Cohen, who holds 9,001,000 shares for 12.7 percent and exiting CEO George Sherman, holding 1,698,325 shares for 2.4 percent.
There are a lot of matters that will be taking place during the time of the upcoming GameStop annual shareholder meeting. Notably, a number of Board directors, including Reggie Fils-Aime, are expected to resign during the events of the meeting. Moreover, the meeting will be the time at which Ryan Cohen is officially named Chairman of the Board. Other executives are also expected to both leave and enter the company in official capacity at that time.
With so much shuffling going on, GameStop’s recent 14A filing still shows a lot of signs of confidence from major shareholders inside the company. While institutional investment will still hold hefty sway over votes and events inside and outside the annual shareholder meeting, it remains to be seen what comes next as GameStop continues its transition throughout 2021.