D.C. Memo: FuboTV CEO Had a $5 Million Monday, At Least On Paper

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Great Timing: FuboTV CEO David Gandler yesterday had one of those days many in the business world dream of, according to news reports and recent SEC filings. First, FuboTV stock shot up 250% on news Gandler's company would merge with Disney's Hulu + Live TV. The transaction also apparently resolved FuboTV's antitrust case that stopped the Venu sports app from launching after a federal judge issued a preliminary injunction last August. Second, FuboTV's stock surge was a boon for Gandler personally. On Jan. 1, he received 1.3 million restricted stock units that were worth $1.8 million last Wednesday at the time of issue and worth at least $6.9 million in after hours trading Monday. FuboTV Executive Chairman Edgar Bronfman Jr. enjoyed a similar windfall, according to Jan. 1 SEC filings. For Gandler, the gains were mostly of the paper variety that prevented him from cashing in immediately. That's because his RSUs "vest as to one-third of the underlying shares on each of January 1, 2026, January 1, 2027 and January 1, 2028, subject to the Reporting Person's continued service to the Issuer through each vesting date," an SEC filing said. FuboTV spokeswoman Jennifer Press said, "These filings were tied to awards of restricted stock units (RSUs) to Gandler and Bronfman Jr. under the company's long term incentive plan (LTIP) in the ordinary course."