GameStop Executive Chairman Unloads 150k Shares for Over $6.5 Million

Multiple GameStop executives, including executive chairman Daniel DeMatteo, sold thousands of company shares this month for big-time payouts. Below is a breakdown of the stock action, per information from Securities & Exchange Commission documents filed on September 19.

Daniel DeMatteo (GameStop executive chairman) -- Sold 150,000 shares at $43.6306, netting himself $6,544,590. After the sale, he retains 230,953 shares.

Steven Koonin (GameStop director) -- Sold 1,800 shares at $43.6327, netting himself $78,538.86. After the sale, he retains 17,820 shares.

Robert Lloyd (GameStop CFO) -- Sold 20,000 shares at $43.6342, netting himself $872,684. After the sale, he retains 221,040 shares.

Michael Mauler (GameStop VP of International) -- Sold 24,070 shares at $43.6279, netting himself $1,050,123.55. After the sale he retains 167,503 shares.

GameStop shares are currently trading at $42.10. We have reached out to GameStop's investor relations representative, asking for context surrounding the recent stock sale.

It is not uncommon for top company executives to sell stock, as a handful of Electronic Arts employees did just that back in May when EA shares climbed to a six-year high.

Just last week, GameStop announced major hiring plans for this holiday season. The company plans to hire around 25,000 seasonal employees to help out over the next few months, which is flooded with high-profile new releases like Grand Theft Auto V for Xbox One and PlayStation 4, Call of Duty: Advanced Warfare, and Dragon Age: Inquisition, among a long list of others.

Eddie Makuch is a news editor at GameSpot, and you can follow him on Twitter @EddieMakuch