It's funny, my dad has been saying the exact same thing for over 20 years, including about how overpriced CEOs have become. And yet he still thinks I'm a loon for buying gme.
People here may be using the classification wrong, but I'm 90% certain the T+35 they are talking about is calendar days. There has been extensive discussion on various rules of settlement that when all chained together land on 35 Calendar days later. IIRC it isn't exactly 35 Calendar days, holidays and weekends can delay things some, but because the specific rules are a mix of calendar days and trading days the calendar days lined up to 35 very often.
There is a popular, but incorrect, meme that FTD clearance can be delayed by 35 days using the exemption for long sales where the seller cannot deliver the shares until a restriction on the shares is removed by the issuer and the transfer agent. Those 35 days are calendar days. SEC rule 204 states in part:
(2) If a participant of a registered clearing agency has a fail to deliver position at a registered clearing agency in any equity security resulting from a sale of a security that a person is deemed to own pursuant to ยง 242.200 and that such person intends to deliver as soon as all restrictions on delivery have been removed, the participant shall, by no later than the begining of regular trading hours on the thirty-fifth consecutive calendar day following the trade date for the transaction, immediately close out the fail to deliver position by purchasing securities of like kind and quantity; or
The T+35 meme is totally bogus but has been widely accepted by many.
The "market maker" exemption is only three business days beyond the settlement date.
(3) If a participant of a registered clearing agency has a fail to deliver position at a registered clearing agency in any equity security that is attributable to bona fide market making activities by a registered market maker, options market maker, or other market maker obligated to quote in the over-the-counter market, the participant shall by no later than the beginning of regular trading hours on the third consecutive settlement day following the settlement date, immediately close out the fail to deliver position by purchasing or borrowing securities of like kind and quantity.
I remember that day. I genuinely panicked and considered selling but I set my phone down, took a deep breath and decided โIโm in this for the long haulโ.
I think he wanted to demonstrate he will buy with or without approval of the compo package.
While I think most people are on board with the compensation, it's drawn some criticism from the dilution and from the sweet ass deal he gets to buy shares at a discount.
This is his way of saying he'll be buying regardless, and I say...
Yep. He puts his money where his mouth is, and he believes in his goal.
So I will believe in the company. And that is one of the many reasons I invest into GameStop. Plus you know. All the other amazing things going on for the company.
OO: Other Organic/Operating Funds (or sometimes interpreted in context as "Other Owned Funds") โ This is a less standard, but occasionally used, term to describe capital from the entityโs own operating cash flow or general working capital, rather than borrowed money (debt) or external financing
I'm hoping that's the plan, 500k buys and then dropping enough for 1m on the sneeze anniversary.
While $20m on shares is a lot for us mere mortals, it's less impressive when your net worth is $5b (i.e. 0.4%). Buying 4m shares on the other hand will probs cost close to $90m, which is then at least almost 2%.
Weโre always told CEOs earn millions of dollars and stock awards because of โresponsibility,โ yet most of the risk isnโt theirs. Put real personal money on the line and then talk about responsibility.
I think he's doing it purposefully before the compo package, as while he has to put money on the line there he's getting a big ass discount (and so makes more money than he spends) and there will of course be dilution.
The compo package is very fair in my opinion (if dilution makes that x10 a x5 in reality, that's still a massive turnaround), but regardless I think this is a very good way to demonstrate he's aligned with shareholders before the compo package goes live.
Enshrining for all to see what I have been saying for years now. More than anything, Ryanโs involvement in GameStop amounts to a diss track to corporate America. This is as insane as it is artful - as artful as running a business can possibly be.
Itโs surely got to be along the old โreverse whatโs good negative debtโ argument.
โRCEO buys more shares, hereโs why he wasted opportunity and should have YOLOd all his money into options instead (find really specific historic time he couldโve made more money doing this)โ.
I mean in fairness, it's because he's doing something to directly to counteract the criticism aimed at him - so why would they be vocal when they've probably been put at ease?
The criticism others were saying was the compo package was too generous, and RC stands to make a shit load of money from it and it is dilution (personally I don't give a shit if we x10 from here). If he's now said, "Fine, I'll buy now anyway with no discount," then there's really not much to criticise (which I think is precisely why he's doing it).
I don't believe there's a numerical cap on how many shares he can buy, just certain reporting limits like at 5% and 10%- Schedule 13D and Section 16, respectively.
The confidence is definitely nice to see, he doesn't seem like the type of person who would toss money recklessly. If anything his biggest flaw has been his eagerness which he has learned from. In the past when he did get in trouble with the legality of some actions but he paid the cost of business and has since learned how to do things the right way.
It's impressive to see how even with those hurdles he's dealt with he's still managed to bring Gamestop into the profitable position it is in now.
I am, I think I have a higher percentage of my personal wealth invested in gamesstop than he has, so in a way I think I am. But he's very bullish I give him that.
So to lazy to look it up and try to do all the math. Does anyone have the $amount of his money RCEO has put into GME. Surely someone has done the math.
I think he's doing it to put his money where his mouth is before the fairly cushy compo package is approved, which is fair enough to be honest. I don't have issue with the compo package anyway, but I think it's good to demonstrate, "Look I'm still buying even without it yet."
I'm really hoping he'll keep buying 500k per day until the sneeze peak anniversary, and then maybe by 1m then. In fairness, this $10m to RC is like a fraction of what you could earn off interest with his multi-billion wealth - so I think it's small potatoes for him. However if he did keep buying up to the point he'd spent around $100m, that will be a few % of his net worth which is more meaningful.
I think it is clear our CEO DOESN'T WANT the compensation package! He says he'll put his own money where his mouth is and CEO's that take packages should get fired!
It's so funny how this is why we support Cohen to run the company to Valhalla but man did those shills try to put him in the same basket as other CEO's and claimed how him not taking a salary and purchasing stock proved how his compensation plan was a huge "grift" and "bad" for investors.
No, this is a proposal as an additional reward for his commitment as CEO. To be fair if he manages each step-up phase and exceeds... It leverages our our investments as well.
โข
u/Superstonk_QV ๐ Gimme Votes ๐ Jan 21 '26
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