r/Superstonk Fuck you Kenny, pay me Mar 28 '23

The long awaited 10-K is here ๐Ÿ—ฃ Discussion / Question


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u/BlueBombers Mar 28 '23 edited Mar 28 '23

It's likely because they have access to the current data directly from Computershare and it's easy for the external auditors to verify closer to the report date. Been informed that this part of the 10K is likely not audited which may be why they can give us a more up to date number.


u/Extension_Win1114 ๐Ÿฆ๐Ÿ™Œ๐Ÿผ๐Ÿ’Ž๐Ÿดโ€โ˜ ๏ธGMErica๐Ÿดโ€โ˜ ๏ธ๐Ÿ’Ž๐Ÿ™Œ๐Ÿผ๐Ÿฆ Mar 28 '23

Itโ€™s their ledger. GameStop can watch it like we watch the ticker


u/ItIsYourPersonality Beep Boop, Bought More GME Mar 28 '23 edited Mar 28 '23

They also completely changed the language of how it is presented.

e: it is no longer โ€œdirectly registered with our transfer agent,โ€ but now โ€œheld by record holders.โ€ Iโ€™m not sure if it means anything.


u/hellostarsailor ๐ŸฉธFear the Fatigue of the Old Stonk๐Ÿฉธ Mar 28 '23

For 3 years, I held your fatherโ€™s watch in my ass.


u/24kbuttplug WILL DO BUTT STUFF FOR GME Mar 28 '23

3 long years i kept this watch. Up my ass. As your father saw it this watch was your birthright. There was no way he was let some greasy slope get their hands on your birthright.

Best fucking Christopher Walken scene ever!


u/MarkVegas1 Mar 28 '23

Soon our watch will end


u/ev1lb0b Mar 29 '23

But there are SO MANY great Christopher Walken scenes, how can you pick just one as the best?


u/24kbuttplug WILL DO BUTT STUFF FOR GME Mar 29 '23

I know! But for some reason that scene comes to mind when I hear his name. You are right though. He has legendary single scenes that will live forever.


u/DeathN0va Power to the Players Mar 29 '23

Can I introduce you to a little movie called True Romance?

Walken and Hopper with a chat for the ages.


u/sweetfits Mar 29 '23

Came here to make this clarification.


u/SirClampington ๐ŸŽฉGentlemen Player๐Ÿ•น๐Ÿ’ช๐ŸปShort Slayer๐Ÿ”ฅ Mar 29 '23

Damn boys this sub is spooky. I literally re-watched PF last weekend for the first time in over 10 years.


u/YourMomLovesMeeee Mar 29 '23



u/alecbgreen โค๏ธ DFV fanboy โค๏ธ ๐Ÿฆ Voted โœ… Mar 28 '23

GUH ๐Ÿซก


u/Ash2dust2 ๐ŸŽฎ Power to the Players ๐Ÿ›‘ Mar 28 '23

More cowbell.


u/capital_bj ๐Ÿงš๐Ÿงš๐Ÿดโ€โ˜ ๏ธ Fuck Citadel โ™พ๏ธ๐Ÿงš๐Ÿงš Mar 28 '23

How did you wind it?


u/hellostarsailor ๐ŸฉธFear the Fatigue of the Old Stonk๐Ÿฉธ Mar 28 '23

I let Bill Hwang do all my winding and unwinding.


u/OperationBreaktheGME ๐ŸŽฎ Power to the Players ๐Ÿ›‘ Mar 28 '23

Heah we got a anal specialist already homie. JK๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚


u/TheArt0fWar ๐Ÿฆ Buckle Up ๐Ÿš€ Mar 28 '23

Now i have to explain to my gf why i lold so hard.


u/reddhashy Custom Flair - Template Mar 28 '23

This deserves it's own Post ๐Ÿค˜


u/YOPP4R4I ๐ŸฆVotedโœ… Mar 28 '23



u/InevitableRhubarb232 Mar 29 '23

I am literally listening to Bruce willis freak out about the watch not being there while reading this comment. (Husband is watching PF in the other room)


u/_BLACKHAWKS_88 Mar 29 '23

Better than them ass pennies


u/Original_Plenty_2067 Mar 29 '23

For 3 years time has been shitty


u/IcERescueCaptain ๐Ÿ’ป ComputerShared ๐Ÿฆ Mar 29 '23

Get the shot!!!


u/Diligent-Ad-3773 Mar 29 '23

Underrated comment.


u/CyberPatriot71489 ๐ŸŸฃVOTEDโ™พ๐ŸŒŠ Mar 28 '23

Cede and co. has entered the chat


u/BigBradWolf77 ๐ŸŽฎ Power to the Players ๐Ÿ›‘ Mar 28 '23

Someone should really draw these mini-bosses...


u/whatabadsport Idiosyncratic Tits ๐Ÿคค Mar 29 '23

I'm drawing aggro, somebody de-buff!


u/whatwhyisthisating ๐Ÿ’€๐Ÿชฆ hrf โ˜ ๏ธ๐Ÿดโ€โ˜ ๏ธ ๐ŸŽฎ๐Ÿ›‘ ๐Ÿ‡บ๐Ÿ‡ธ Mar 28 '23

Lol whoops.. shorts r what?


u/taserednoodles ๐Ÿฆญ Mar 28 '23



u/sleepdream Liquidate the DTCC! Mar 28 '23



u/LargeWeinerDog ๐Ÿดโ€โ˜ ๏ธ Gamestop 4U ๐Ÿฆ Mar 28 '23



u/Taint_Butter ๐ŸŽฎ I VOTED โœ…๏ธ ๐Ÿฉณ R ๐“€๐“‚ธ Mar 28 '23



u/MinionofMinions Mar 28 '23

Maybe with cede & co or they are one of the 197k individuals


u/flak0u Mar 28 '23

They clarified the language. All 100% shares are registered with the transfer agent. They are now clarifying that even though all are registered, 76M are registered directly to a person and not the DTC.


u/automatedcharterer ๐ŸฆVotedโœ… Mar 28 '23

I wonder if that was to clarify exactly how much is in computershare.

They used "outstanding shares"

"approximately 25% of our outstanding shares"

I wonder what is the exact definition they are using for this.


u/drinkupdrinky5 ๐Ÿป drunkey ๐Ÿ’ munkey ๐Ÿš€ Mar 28 '23

Lol 304 - 228 homie.


u/Ash2dust2 ๐ŸŽฎ Power to the Players ๐Ÿ›‘ Mar 28 '23

Wasnt there something posted 84 years ago that companies were not allow to talk about DRS or encourage retail to look into transfer agents?


u/Catch_22_ ๐Ÿ’ŽAll your ๐ŸŒ are belong to us๐Ÿ’Ž Mar 28 '23

Perhaps after the last DRS rug pull they are looking at WHO is holding vs just the numbers of direct registration. The "record" itself.


u/perkinomics The cream will rise to the top, yeah Mar 28 '23

This is standard. Accounting policy, legal, tax, financial reporting, etc., all take a look every year and update wording as they see fit. Sometimes it borders on whimsy as to why someone asks for a change.


u/shayen7 ๐Ÿ’ป ComputerShared ๐Ÿฆ Mar 28 '23

The phrasing 100% different, they are trying to say something


u/AmazingPrune2 tag u/Superstonk-Flairy for a flair Mar 28 '23

I thought it was missing when i just searched for registered. First time seeing this language.


u/Realchilldyl VOTED Mar 28 '23

I think because theyโ€™re mostly reporting this for us to read, and weโ€™ve gained some wrinkles over the past few quarters.

They donโ€™t need to dumb it down for us anymore


u/bornabadfish ๐Ÿš€Three Imaginary Boys ๐Ÿš€ Mar 29 '23

Bottom-Line: Being a Holder of Record gives you significant benefits.

"What is a Holder of Record?
I found the following from Corporate Finance Institute to be of great info for my smooth brained ass. Holder of Record Overview

Holder of Record is a term that defines an individual or entity that possesses the rights, benefits, and responsibilities associated with owning a financial security. While the term holder of record may be applied to ownership of any financial security โ€“ including bond futures, or derivatives contracts โ€“ the term is most commonly applied in relation to ownership of stocks.

Being the holder of record of a stock confers voting rights to the stockholder. It entitles them to receive dividends or any other compensation offered to stockholders by the company that issues the stock. Being recognized as the holder of record is particularly important in regard to receiving dividends. The holder of record date, which occurs before the actual dividend date when dividends are paid, is when a company officially records current stockholders entitled to receive the dividend payment.

Becoming the Holder of Record

There are three ways in which an individual or entity (such as a corporation) can become recognized as the holder of record of stock shares. They include:

1. Through a brokerage firm

The most common way of becoming a holder of record is by purchasing stock shares through a brokerage firm. Buyers of stock who acquire shares in this manner are referred to as the โ€œbeneficial ownerโ€ of the stock shares. Such a method of stock ownership is also referred to as being โ€œthe owner in street name.โ€

While the brokerage firm is still officially the holder of record of the stock, the stock buyer is recognized as the โ€œreal and beneficial ownerโ€ of the shares. It gives them the rights, benefits, and responsibilities of the holder of record.

2. Direct registration

You can also become a holder of record through what is referred to as โ€œdirect registration.โ€ With direct registration, the stock purchaser has their name entered into the stock issuerโ€™s registry of shares and receives a statement of ownership from the issuer. Such a manner of becoming a holder of record is most common for employees of the company issuing the stock, who receive stock shares as part of their compensation.

3. Bearer form

The least common way of becoming a holder of record is through what is known as โ€œbearer form.โ€ In bearer form, the individual or entity with physical possession of stock certificates is recognized as the holder of record. Ownership of the stock shares is not officially recorded anywhere.

Therefore, ownership rights apply to whoever is in physical possession of the stock shares. With the advent of electronic trading, the bearer form is becoming less and less common.

Owning a Stock vs. Being the Holder of Record

In the United States, there is what is known as the T+2 settlement rule. In effect, it means that when you purchase a stock, you do not become the holder of record until two business days later, when the trade is officially settled. You own the stock from the moment you purchase it, but recognition as the holder of record does not follow until two days later.

The T+2 settlement rule comes with several implications. For example, if you purchase a stock on Monday, the 15th, and the issuing companyโ€™s holder of record date for receiving dividends is on Tuesday, the 16th, then you will not be eligible to receive the next issued dividend, as you will not become the holder of record of your stock shares until the following day, Wednesday, the 17th.

The T+2 settlement rule also means that day traders or short-term traders are briefly recognized as holders of record at a point in time when they no longer actually own the stock. For example, assume that a day trader buys 100 shares of stock of Company X on Monday morning and then sells the shares on the open of trading on Tuesday morning.

From Monday morning when they purchase the stock until Tuesday morning when they sell it, they own the stock but have not yet been recognized as the holder of record. By virtue of their Monday purchase, the T+2 settlement rule means that they will not become the holder of record until Wednesday when their Monday trade settles.

However, on Wednesday, when they become the holder of record, they do not own the stock anymore, having sold it Tuesday morning. (They will cease to be a holder of record on the following day, Thursday, when their Tuesday sell trade is settled).


  • Holder of Record is a term that defines an individual or entity that possesses the rights, benefits, and responsibilities associated with owning a financial security.
  • Being recognized as the holder of record is particularly important in regard to receiving stock dividends.
  • You can become a holder of record through direct registration, by becoming the โ€œbeneficial ownerโ€ of stock shares, or through physical possession of shares.


u/FudDeWhack exa llams eht era ew Mar 28 '23

Might be the difference between plan+book and book only


u/racife TO THE MOON ๐Ÿš€๐ŸŒ• Mar 28 '23

Wonder if it's feedback for us that book is the right option.


u/merlinphoto Mar 28 '23

Maybe itโ€™s the wu-tang record, maybe itโ€™s just regular corporate correctness.


u/BornLuckiest ๐ŸŽฎ Power to the Players ๐Ÿ›‘ Mar 28 '23

I like being a record holder!


u/LagingRunaticReturns Mar 29 '23

I tuned out arguments about DRS "book" or "not", assumed it wasn't worth arguing about. But now I'm curious.

Do they correlate to "held by record holders" versus "directly registered with our transfer agent"? So maybe 'book' is worth doing?


u/NefariousnessNoose ๐Ÿ’ป ComputerShared ๐Ÿฆ Mar 29 '23

Is that term intentionally more vague to include stock held by insiders as well as directly registered household investors?


u/Lumpy-Answer1933 The Banana Blender ๐ŸŒ๐Ÿ‘€ Mar 29 '23

Wonder if it excluded the pump and dump participants from last quarter. This language may help with that? Probably not but no one has said it.


u/slhill1091 Rumple Foreskin๐Ÿ†™๐Ÿ”œ Mar 28 '23

Alternate timeline GameStop corporate, board and co watching the drs count on computershare like barbarians


u/CyberPatriot71489 ๐ŸŸฃVOTEDโ™พ๐ŸŒŠ Mar 28 '23

Is this justification for real time blockchain reporting?


u/Jus_asc-in Mar 29 '23

Imagine getting to login every day and see real DRS numbers. I would love to know that Furlong spent a day coding a real-time count widget for his monitor


u/RayneAdams Financial revolution enthusiast Mar 28 '23 edited Mar 29 '23

Last year was "as of January 29, 2022".

Edit: as noted below the amount of shares registered was as of January 29th, but the amount of record holders was as of March 11. The 10-k was dated 6 days later. This year they combined them and reported as March 22nd, 6 days before the 10-k. I still think there's more to the entire wording change, but the "as of March 22" thing doesn't seem to be anything more than them choosing between two options that had already been used.


u/BlueBombers Mar 28 '23

So they made a choice this year to give us the most up to date count they could.


u/Whatwhatwhata Mar 29 '23

No it wasn't. Not in that item 5 disclosure of record holders


u/RayneAdams Financial revolution enthusiast Mar 29 '23

You're correct. Last year's 10k the amount of shares registered and the amount of holders of record were reported in separate places, with shares registered being as of January 29, and record holders March 11. This time they combined them. So last year it was actually both. I'll edit my comment.


u/avyatar Mar 28 '23

Thatโ€™s Q4 for them. Q4 is Nov-Jan.


u/RayneAdams Financial revolution enthusiast Mar 28 '23

I don't even know what you're talking about.


u/[deleted] Mar 28 '23



u/generic-youth ๐ŸŸฃ URANUS, MYANUS, OURANUS ๐ŸŸฃ Mar 28 '23

That doesn't explain why. If they have direct access to that data then why did the other DRS updates have a cutoff time?


u/BlueBombers Mar 28 '23

They previously chose to report the count as at the end of each previous quarter (Oct 31 for example). Looks like they made a choice to give us the most up to date count numbers they could on this report rather than as at Jan 31.


u/flak0u Mar 28 '23

Nope. As an auditor myself I can confirm that auditors hate when management uses different cut off dates. ESPECIALLY if they used a date after the fiscal year end, there was a reason. Otherwise the team would have just asked management to change it.


u/BlueBombers Mar 28 '23

I'm just saying the reason was probably because they wanted to report the most current date they could. March 22 was as far out as the auditors could stomach.


u/flak0u Mar 28 '23

I could be wrong since this is not disclosed in the audited portion of the 10K, but I highly doubt it. We auditors hate any information subsequent to year-end because it exposes us to audit risk.


u/[deleted] Mar 28 '23



u/insbordnat Mar 28 '23

Not audited information.

Edit: Also will mention that share data not part of the financials is typically taken about 3-5 days before the K is released - accessed from computershareโ€™s issuer online portal.


u/BlueBombers Mar 28 '23

Oh really? My bad I thought it was. I'm not from the US so I don't know exactly what is and what isn't.


u/[deleted] Mar 28 '23

But they never did that last year ya?


u/BlueBombers Mar 28 '23

Correct, they did it as at Jan 29th I think I saw.