GameStop Corp. Increases Stake in eBay Inc. to 9.0% Amid Acquisition Proposal

On June 5, 2026, GameStop Corp. filed Amendment No. 3 to its Schedule 13D, reporting a significant increase in its position in eBay Inc. (EBAY). GameStop now beneficially owns 39,874,306 shares, representing approximately 9.0% of the company, up from a previous 0.01% stake. This position consists of 827,648 shares held directly and economic exposure to an additional 39,046,658 shares through Put/Call Pairs with The Toronto-Dominion Bank. The increase follows the satisfaction of HSR Act conditions on June 3, 2026, allowing GameStop to elect physical settlement of the derivative instruments. GameStop maintains its non-binding proposal to acquire all outstanding shares of eBay for $125.00 per share in a cash-and-stock transaction, as originally proposed on May 3, 2026. The reporting person intends to engage with eBay's management and board regarding governance, strategic plans, and the potential acquisition. The 827,648 direct shares were purchased for approximately $91 million using working capital.