GameStop (GME) - Get Report Chief Financial Officer Jim Bell will depart the video game retailer that has become synonymous with the 2021 Wall Street short squeeze with a payout worth nearly $30 million - after less than two years on the job.
GameStop on Tuesday announced that Bell was resigning from the company effective March 26. Bell will get $15.8 million when he departs, and could earn millions more from equity in coming years if activist investor Ryan Cohen can pull off a turnaround of GameStop.
Bell’s contract entitles him to $2.8 million in severance and an immediate payout of restricted shares worth $13 million when he departs, according to regulatory filings and calculations by Bloomberg.
He also holds a couple of equity awards that are tied to goals spanning several years. Filings show he could collect at least 300,000 shares, depending on how the company does. They were worth $13.8 million as of Tuesday’s close in New York.