Nat Turner
Director at GME
Board
About Nat Turner
Nat Turner (age 39) is a director of GameStop Corp. since 2024, appointed on November 18, 2024. He is Chairman and Chief Executive Officer of Collectors Holdings, Inc. (parent of PSA), previously co-founded and led Flatiron Health (oncology technology) and Invite Media (ad tech), and is an active angel investor via Operator Partners; he holds a B.S. in economics from the Wharton School of the University of Pennsylvania . The Board determined Turner is not independent due to GameStop’s November 2024 collaboration with Collectors/PSA under his leadership .
Past Roles
| Organization | Role | Source |
|---|---|---|
| Collectors Holdings, Inc. (PSA) | Chairman & CEO | |
| Flatiron Health, Inc. | Co-founder; CEO | |
| Invite Media | Co-founder; led company | |
| Operator Partners LLC | Angel/VC investor |
External Roles
| Company/Institution | Board/Role | Public/Private | Notes |
|---|---|---|---|
| Collectors Holdings, Inc. | Chairman & CEO | Private | PSA collaboration with GameStop initiated Nov 2024; approx. $9.8M fiscal 2024 transaction value; Audit Committee approved . |
| Other public company boards | None | — | No current public directorships disclosed . |
Board Governance
- Committee assignments: None .
- Independence: Not independent (CEO/Chairman of Collectors; PSA collaboration with GameStop in Nov 2024) .
- Board meeting attendance: The Board met five times in fiscal 2024; each incumbent director attended at least 75% of Board and applicable committee meetings held during their service period .
- Annual meeting engagement: All incumbent directors standing for re‑election attended the 2024 annual meeting virtually .
- Years of service: Director since 2024; appointed November 18, 2024 .
Fixed Compensation
- Policy: As of the 2024 annual meeting, the Board eliminated all compensation for non‑employee directors; historically RSUs were granted in lieu of cash .
- FY2024 director pay table (non‑employee directors): Turner received $0 in fees and stock awards .
| Component | Amount (FY2024) |
|---|---|
| Annual retainer (cash) | $0 |
| Committee membership/chair fees | $0 |
| Meeting fees | $0 |
| Equity (annual RSUs) | $0 (policy eliminated) |
Performance Compensation
- None for directors: No director equity or cash tied to performance metrics; the Board pays no director compensation under the current policy .
| Compensation Type | Performance Metric | Status |
|---|---|---|
| Director equity awards | N/A | No director grants; policy eliminated |
| Director cash incentives | N/A | None |
Other Directorships & Interlocks
| Entity | Nature of Relationship | Fiscal 2024 Transaction Value | Governance Handling | Conflict Assessment |
|---|---|---|---|---|
| PSA (Collectors division) | Authorized dealer and authentication/grading in select GameStop stores (collaboration begun Nov 2024) | ~$9.8M | Pre‑approved by Audit Committee per related‑party policy | Related‑party exposure; Board deemed in best interests after review; Board determined Turner not independent due to role at Collectors . |
Expertise & Qualifications
- Senior leadership, finance, retail, ecommerce, internet services, and marketing/brand management experience (Board skills matrix) .
- Entrepreneurial founder/operator with technology and consumer experience; Wharton economics degree .
Equity Ownership
| Item | Detail |
|---|---|
| Beneficial ownership (as of April 21, 2025) | Not listed with beneficially owned shares (“—”) in the security ownership table . |
| Shares outstanding (record date) | 447,300,514 . |
| Ownership % | Not disclosed; “—” in table implies below reporting thresholds . |
| Pledging/Hedging | Company permits limited pledging (≤50% collateral value) with controls; hedging prohibited . |
| Director ownership guideline | Non‑employee directors required to own $275,000 of stock; 5‑year compliance window . |
| Compliance status | As of Feb 1, 2025, all executive officers and non‑employee directors were in compliance (own adequate shares or within grace period) . |
Insider Trades and Filing Compliance
| Form | Event/Date | Note |
|---|---|---|
| Form 3 | Filed late on December 5, 2024 for director appointment | Company disclosed delinquent Section 16(a) filing due to administrative error . |
Governance Assessment
- Independence and conflicts: Turner is not independent due to the PSA collaboration under Collectors; transactions (~$9.8M in FY2024) were pre‑approved by the Audit Committee under related‑party procedures, but continued monitoring is warranted given his leadership and equity interests at Collectors/PSA .
- Compensation alignment: Board eliminated all director compensation; directors are only rewarded via personal investment appreciation; director ownership guideline set at $275,000 with a 5‑year compliance runway, which supports long‑term alignment though Turner had no reported beneficial holdings as of April 21, 2025 .
- Attendance and engagement: Board met five times in fiscal 2024; incumbent directors met ≥75% attendance; directors expected to attend annual meetings and engage with shareholders, with 2024 attendance confirmed .
- Policies and controls: Anti‑hedging policy and structured pledging policy with oversight reduce misalignment risks; annual independence reviews and related‑party transaction approvals operate via the Audit Committee charter .
- RED FLAGS:
- Not independent director status tied to active related‑party collaboration (PSA) .
- Late Form 3 filing (administrative error) indicates a compliance lapse requiring tightened Section 16 controls .
- No disclosed beneficial ownership as of record date may be perceived as lower “skin‑in‑the‑game” until guideline compliance is achieved .
Implications: Investors should weigh the Audit Committee’s oversight of the PSA collaboration and continuing independence reviews against the structural conflict risk; the zero‑compensation director policy and ownership guidelines are positive alignment signals but warrant tracking Turner’s path to ownership compliance and timely Section 16 reporting .