: GameStop COO sells $2.8 million worth of stock, CFO also proposes stock sales

Shares of GameStop Corp. GME eased 0.3% in morning trading Tuesday, after executives filed to sell some of the consumer electronics and videogame retailer’s stock. Chief Operating Officer Nir Patel disclosed late Monday the sale in the open market on Monday and Friday of a total of 122,073 shares, valued at $2.76 million. The disclosure said the sales were to cover withholding taxes related to the vesting of restricted stock units, and did not represent a “discretionary trade” by Patel. After the sale, Patel owned 1,004,697 shares, or 0.3% of the shares outstanding. Separately, Chief Financial Officer Diana Saadeh-Jajeh had filed late Friday for the proposed sale of 10,484 shares, but did not yet disclose any sales. GameStop’s stock has rallied 27.2% year to date, while the S&P 500 SPX has advanced 15.1%.

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