The new chief operating officer will earn an annual base salary of $200,000 with $3.4 million in signing bonuses that will be paid out over two years. The employment agreement requires Patel to move to the Dallas-Fort Worth region and provides up to $200,000 for his relocation. He will also be granted $14 million worth of company stock, portions of which will vest annually over five years.
GameStop chairman Ryan Cohen tweeted, “I love the Spice Girls,” Monday morning around the time the hiring news was with the U.S. Securities and Exchange Commission. Cohen’s loyal following of retail traders base their speculation about the company’s future in part on Cohen’s sometimes trivial Twitter posts.
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