Fubo CEO David Gandler saw his total compensation package fall to $5.164 million last year, according to new financial filings reviewed by The Desk.
The figure was outlined in a report sent to shareholders and submitted to the U.S. Securities and Exchange Commission (SEC) on Tuesday, ahead of Fubo’s annual meeting with investors.
Gandler’s total cash, stock awards and benefits package for 2023 included a meager cash compensation consisted of a base cash salary of $730,000, up from the $559,000 earned one year prior. Stock options clocked in at $2.125 million, significantly lower than the $7.225 million earned in 2022, while Gandler’s non-equity incentive plan compensation came in at $943,160, up from $539,779 earned in 2022.
All told, Gandler’s total cash and non-cash compensation package was 38 percent lower in 2023 compared to the prior year, the financial data showed.
Gandler’s lower overall compensation for 2023 came in spite of Fubo hitting on certain key metrics throughout the year. The company earned $1.37 billion in total revenue, most of it generated from its sports-inclusive streaming service in the United States. Around $40 million was attributed to Fubo’s other businesses, including comparable streaming products in France and Spain.
Fubo’s domestic subscriber count was also up 12 percent, with the company reporting 1.618 million customers by the end of 2023. Those subscribers helped generate $114 million in advertising revenue throughout the year, up 14 percent compared to 2022.
Gandler’s base salary increased to $995,000 on January 1, the financial filings revealed. The company’s executive compensation committee has recommended shareholders approve a further adjustment that would see Gandler’s current-year base salary increase to $1.5 million. The committee determined that the proposed base salary figure was more in line with what similarly-positioned executives at other companies earned.
Investors will have the opportunity to vote on Gandler’s base salary adjustment at the company’s annual shareholder meeting in June.
