Fubo Announces Inducement Grants Under NYSE Listing Rule 303A.08

Rhea-AI Summary

FuboTV (NYSE: FUBO), the sports-first live TV streaming platform, announced that its Compensation Committee granted restricted stock unit (RSU) awards on May 16, 2024. These awards cover 60,039 shares of common stock, granted under the 2023 Employment Inducement Equity Incentive Plan to attract seven new employees. The RSUs vest annually over four years, contingent on continued employment. The awards align with NYSE Listing Rule 303A.08.

Fubo aims to aggregate premium sports, news, and entertainment content through a single app, operating in the U.S., Canada, Spain, and France. It offers more than 300 live channels in the U.S., including every Nielsen-rated sports channel. Fubo's platform features 4K streaming, MultiView, and AI-driven Instant Headlines.

Positive

• Granted RSU awards to attract seven new employees, potentially enhancing talent pool.
• RSUs vest annually over four years, promoting employee retention.
• Operates in multiple international markets including U.S., Canada, Spain, and France.
• Exclusive aggregation of every Nielsen-rated sports channel in the U.S.
• Innovative features like 4K streaming, MultiView, and AI-driven Instant Headlines.

Negative

• Potential shareholder dilution due to issuance of 60,039 shares as RSU awards.

NEW YORK--(BUSINESS WIRE)-- FuboTV Inc. (d/b/a Fubo) (NYSE: FUBO), the leading sports-first live TV streaming platform, today announced that on May 16, 2024, the Compensation Committee of Fubo’s Board of Directors granted restricted stock unit awards covering an aggregate of 60,039 shares of its common stock to seven new employees to induce them to join Fubo. The awards were granted under Fubo’s 2023 Employment Inducement Equity Incentive Plan, and vest annually over a four-year period following their grant, subject to continued employment. The awards were granted as employment inducement awards pursuant to the New York Stock Exchange rules.

About Fubo

With a global mission to aggregate the best in TV, including premium sports, news and entertainment content, through a single app, FuboTV Inc. (d/b/a Fubo) (NYSE: FUBO) aims to transcend the industry’s current TV model. The company operates Fubo in the U.S., Canada and Spain and Molotov in France.

In the U.S., Fubo is a sports-first cable TV replacement product that aggregates more than 300 live sports, news and entertainment networks and is the only live TV streaming platform with every Nielsen-rated sports channel (source: Nielsen Total Viewers, 2023). Leveraging Fubo’s proprietary data and technology platform optimized for live TV and sports viewership, subscribers can engage with the content they are watching through an intuitive and personalized streaming experience. It was the first virtual MVPD to launch 4K streaming and MultiView, which it did years ahead of its peers, as well as Instant Headlines, a first-of-its-kind AI feature that generates contextual news topics as they are reported live on air.

Learn more at https://fubo.tv

View source version on businesswire.com: https://www.businesswire.com/news/home/20240521117160/en/

Investors

Ameet Padte, Fubo

ameet@fubo.tv

JCIR for Fubo

ir@fubo.tv

Media

Jennifer L. Press, Fubo

jpress@fubo.tv

Bianca Illion, Fubo

billion@fubo.tv

Source: fuboTV

FAQ

What did Fubo announce on May 16, 2024?

Fubo announced the granting of restricted stock unit awards covering 60,039 shares to seven new employees.

What is Fubo's 2023 Employment Inducement Equity Incentive Plan?

It is a plan under which Fubo grants restricted stock units to attract new employees, aligning with NYSE rules.

How do the RSU awards granted by Fubo vest?

The RSU awards vest annually over a four-year period, contingent on continued employment.

What is unique about Fubo's TV streaming platform?

Fubo offers exclusive aggregation of every Nielsen-rated sports channel and includes features like 4K streaming, MultiView, and AI-driven Instant Headlines.

How might the restricted stock unit awards affect Fubo shareholders?

The issuance of 60,039 shares could lead to potential shareholder dilution.