GameStop Corp. (NYSE: GME) shares edged 0.5% higher in after-hours trading on Tuesday after the company announced shareholders approved all proposals at its 2026 Annual Meeting.
The most consequential vote involved an amendment to GameStop’s certificate of incorporation, which passed with 68.7% of votes cast in favor, according to Bloomberg.
That amendment authorizes an increase in the number of Class A common shares GameStop can issue, providing flexibility for large-scale strategic transactions.
The expanded share capacity is directly tied to GameStop’s proposed acquisition of eBay Inc. (NASDAQ: EBAY), which would involve a mix of cash and company stock.
GameStop had made an unsolicited offer earlier this year to acquire eBay at $125 per share, a bid that represented a significant premium to eBay’s share price at the time.
eBay’s board rejected the proposal, but GameStop CEO Ryan Cohen has continued to publicly back the deal, stating that eBay is poorly run and carries excessive costs.
In June, Cohen gave up the opportunity to receive a major performance-based pay package as the company intensified its pursuit of the e-commerce platform.
The board approved Cohen’s request to remove the proposed CEO performance award from the proxy statement, meaning shareholders were no longer asked to vote on it at Tuesday’s annual meeting.
Cohen stated he wanted leadership to remain focused on GameStop’s operating performance and its proposed eBay acquisition.
Beyond the share authorization vote, shareholders also re-elected all five director nominees, approved the advisory vote on executive compensation, and ratified the appointment of the company’s independent registered public accounting firm.
GameStop said the final voting results will be filed with the Securities and Exchange Commission in a Current Report on Form 8-K.
Retail investor sentiment on Stocktwits for GME improved to “bullish” from “neutral” the prior day, with message volume around the stock surging 1,418% over the past 30 days.
GME stock had closed the regular trading session down 2.46% before recovering ground in after-hours trading, and the stock has gained 5.5% year-to-date.
