Key Highlights

● Ryan Cohen bought 450,000 more GameStop Class A shares on the open market on September 29, 2026.

● His reported beneficial ownership is 44,683,306 shares, including 3,734,784 shares issuable on Warrant exercise, or 8.8 percent of the class.

● Amendment No. 18 reports trades of 446,500 shares at $23.4753 and 3,500 shares at $23.4499 per share.

● The two amendments state different aggregate purchase prices for his directly held shares, without explaining the difference.

Ryan Cohen reported in two Schedule 13D amendments filed with the SEC on September 29, 2026 that he bought another 450,000 shares of GameStop Corp. (NYSE:GME). Class A common stock on the open market that day. After the purchases, Mr. Cohen's reported beneficial ownership stands at 44,683,306 shares, made up of 40,948,522 shares held directly and 3,734,784 shares issuable on exercise of warrants. The filings, Amendment No. 18 and Amendment No. 19, put that position at 8.8 percent of the class.

The September 29 Purchases

Amendment No. 18 carries an event date of September 29, 2026 and reports two open-market trades on that day. The first was 446,500 shares at a price of $23.4753 per share, and the second was 3,500 shares at $23.4499 per share. Together they total 450,000 shares. The filing states that the transactions were effected in the open market.

The percentage in the filing is calculated on 504,500,990 shares outstanding as of September 3, 2026, a figure the filing attributes to GameStop's Form 10-Q filed on September 9, 2026. Mr. Cohen reports sole voting power and sole dispositive power over all 44,683,306 shares, and he reports no shared power over any of them.

Funding and the Warrants

Item 3 of a Schedule 13D describes where the money for the shares came from. In Amendment No. 18, Mr. Cohen says the shares were bought with personal funds, which the filing notes "may, at any given time, include Margin loans made by brokerage firms." It gives an aggregate purchase price for the 40,948,522 directly held shares of approximately $195,543,793, excluding brokerage commissions.

The 3,734,784 warrants were, according to the filing, received from GameStop for no consideration through a warrant dividend, so they do not add to the purchase-price figure. Because the warrants can be exercised into shares, they are counted in his beneficial ownership total alongside the shares he holds outright.

Why There Are Two Amendments

Amendment No. 19 was filed the same day and repeats the same share counts, the same 8.8 percent figure and the same event date. In its Item 5 it states that there have been no transactions in the issuer's securities since Amendment No. 18, so it does not report additional purchases beyond the 450,000 shares described above. Its Item 3 gives the aggregate purchase price for the 40,948,522 shares as approximately $185,549,462, which differs from the approximately $195,543,793 stated in Amendment No. 18. The filings do not explain the difference or say that one amendment is intended to correct the other.

A Schedule 13D is required when a person or group acquires more than five percent of a class of a company's voting securities and is filed as an amendment whenever there is a material change in the facts previously reported. Mr. Cohen has filed a long series of such amendments for GameStop, and the numbering reaches 19 with these two filings. The filings do not describe any new plan or proposal regarding GameStop's management, strategy or capital structure.

Cohen's Amendments 18 and 19 at GameStop

Mr. Cohen's Schedule 13D obligations continue as long as he remains above the reporting threshold, so any further purchases, sales or changes to his plans would need to be disclosed in another amendment. The two amendments give aggregate purchase prices of approximately $195,543,793 and $185,549,462 for the same 40,948,522 directly held shares.