Alberto Horihuela Suarez
FuboTVAbout Alberto Horihuela Suarez
Alberto Horihuela Suarez (age 37) is Fubo’s Chief Operating Officer since April 2023; previously Chief Growth Officer (Nov 2021–Apr 2023) and Chief Marketing Officer (Apr 2020; co‑founder and CMO of FuboTV Sub since June 2014). He holds a BA in Economics from the University of Chicago . Fubo’s 2024 operating metrics that drive executive pay (and were used in bonus/PRSU plans) were strong: North America revenue $1.59B (+19%), subscribers 1.676M (+4%), ARPU $85.97 (+5%), with global revenue $1.62B and significant Adjusted EBITDA and free cash flow improvements . Shareholders supported say‑on‑pay at ~89% in 2024, following program changes that strengthened pay-for-performance alignment .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Fubo (fuboTV Inc.) | Chief Operating Officer | Apr 2023–present | Leads operations amid profitability and scale goals; incentives tied to NA revenue, subscribers, and Adjusted EBITDA |
| Fubo | Chief Growth Officer | Nov 2021–Apr 2023 | Growth leadership aligning marketing, subscriber acquisition, and monetization |
| Fubo / FuboTV Sub | Chief Marketing Officer | Apr 2020–Nov 2021 (Fubo); CMO since Jun 2014 (Sub) | Built sports-first brand; scaled viewership and subscriber base |
| Primerad Network | Co‑Founder & CEO | Jun 2013–May 2015 | Led video ad network targeting U.S. Hispanic audience |
| DramaFever | Head of Latin America | Nov 2012–Jun 2014 | Expanded streaming distribution in LatAm; cross-border content strategy |
External Roles
No public boards or external directorships disclosed for Alberto in 2025 proxy .
Fixed Compensation
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Base Salary ($) | 406,000 | 473,049 | 543,025 (3% merit increase effective Jul 1, 2024) |
| Target Bonus (% of Salary) | Not disclosed | 60% (pre‑2024) | 75% |
Performance Compensation
2024 Annual Cash Incentive
| Item | Value |
|---|---|
| Corporate metrics and weighting | NA Revenue (25%), NA Subscribers (25%), Adjusted EBITDA (50%) |
| Corporate achievement | 121.6%; payout factor 126.2% |
| Target bonus ($) | $413,250 (75% of $551,050 target base) |
| Actual bonus paid ($) | $516,609 |
| Additional discretionary bonus ($) | $100,000 (extraordinary effort incl. antitrust litigation outcomes) |
2024 Performance Outcomes vs Targets (Corporate scorecard)
| Metric (Weight) | Threshold | Target | Maximum | Actual | Payout % |
|---|---|---|---|---|---|
| NA Revenue (25%) ($mm) | 1,212 | 1,515 | 1,818 | 1,588 | 104.8% |
| NA Subscribers (25%) (000s) | 1,340 | 1,675 | 2,010 | 1,676 | 100.0% |
| Adjusted EBITDA (50%) ($mm) | (164.8) | (143.5) | (114.7) | (100.0) | 150.0% |
Equity Incentives and Vesting
| Award Type | Grant | Size | Terms | Vesting / Performance |
|---|---|---|---|---|
| RSUs (Annual) | Nov 25, 2024 | 599,880 sh | Time‑based; 4 equal annual tranches | Vests each Nov 20 from 2025–2028; CIC double‑trigger acceleration per plan |
| PRSUs (Annual) | Nov 25, 2024 | 299,940 sh (target) | Four one‑year performance periods: 2025–2028; metrics are Adjusted EBITDA, NA Revenue, NA Subscribers (33% each in 2025) | Each year’s tranche vests on certification by ~Feb 20 of following year; 0–100% payout; CIC treatment blends actual and target for incomplete periods |
| PRSUs (2023 grant) | Nov 20, 2023 | 189,825 sh (target) | 50% based on 2024 metrics; 50% on 2025 metrics | 94,912 sh eligible from 2024 performance; vests upon 2025 certification (~Feb 20, 2026) |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership (Apr 22, 2025) | 1,842,054 shares total; includes 395,324 options exercisable within 60 days and 1,446,730 shares held directly; <1% of outstanding |
| Shares outstanding | 341,539,797 (Record Date) |
| Unvested RSUs (Existing Plan) | 884,619 shares |
| Unvested Performance Shares (Existing Plan) | 1,629,765 shares (assumed at “maximum” in plan summary; his PRSU disclosures elsewhere show target counts) |
| Hedging/Pledging | Prohibited by Insider Trading and anti‑hedging policy; no pledging permitted |
| Clawback | Dodd‑Frank/NYSE‑compliant compensation recovery policy effective Oct 2, 2023 |
Options Detail
| Grant Date | Shares (exercisable/unexercisable) | Exercise Price ($) | Expiration | Vesting |
|---|---|---|---|---|
| Aug 6, 2020 | 200,000 (time‑based) | 9.98 | Aug 5, 2030 | 25% at 1st anniversary, then 36 equal monthly installments |
| May 31, 2018 | 270,922 (time‑based) | 1.99 | May 30, 2028 | 25% at 1st anniversary, then 36 equal monthly installments |
| Aug 4, 2016 | 310,668 (time‑based) | 0.49 | Aug 3, 2026 | Not detailed in proxy footnotes |
| Sep 21, 2015 | 28,212 (time‑based) | 0.22 | Sep 20, 2025 | Not detailed in proxy footnotes |
Note: Fubo’s closing price was $1.26 on Dec 31, 2024; the 2020 option at $9.98 is deeply out‑of‑the‑money, implying limited near‑term exercise/sale pressure from that grant .
Employment Terms
| Provision | Terms |
|---|---|
| Employment agreement | At‑Will Employment, Confidential Information, and Invention Assignment Agreement dated Jan 21, 2020 |
| Role tenure | COO since Apr 2023; prior CGO/CMO roles as above |
| Non‑compete | Not disclosed in proxy |
| Non‑solicit | Employee non‑solicitation for up to 12 months post‑termination (Executive Severance Plan) |
| Severance (no CIC) | If terminated without cause or resigns for good reason: 12 months base salary, prorated target bonus, prior year unpaid bonus if any, 12 months COBRA reimbursement |
| Severance (CIC; within 24 months post‑CIC) | 1.5x (base + target bonus) lump sum, prior year unpaid bonus, prorated target bonus, 18 months COBRA, accelerated vesting of all time‑vesting equity (PRSUs treated per award terms) |
| Equity acceleration (high‑level) | Time‑based awards: double‑trigger after CIC; PRSUs: completed years vest at actual; incomplete periods generally at target with service‑based vesting to original dates or on qualified termination after CIC |
Potential Payments (Illustrative, if event on Dec 31, 2024)
| Scenario | Cash Severance ($) | Accelerated Options ($) | Accelerated RSUs ($) | Accelerated PRSUs ($) | Health Benefits ($) | Total ($) |
|---|---|---|---|---|---|---|
| Non‑CIC termination (without cause/good reason) | 551,000 | — | — | 1,436,400 | 35,967 | 2,023,367 |
| CIC + termination (double‑trigger) | 1,653,000 | — | 1,114,620 | 1,675,504 | 53,951 | 4,497,075 |
Valuations above use $1.26 per share (Dec 31, 2024 close) and plan-specific mechanics described in the proxy; exact outcomes depend on timing, performance certification, and equity plan treatment .
Compensation Structure Analysis
- Pay mix and leverage: 2024 program raised target bonus to 75% of salary and layered PRSUs over multi‑year periods, tying outcomes to Adjusted EBITDA, NA revenue, and subscribers (shift toward performance equity and at‑risk pay) .
- Year‑over‑year changes: 2024 base salary increased 3% (merit) with higher target bonus vs 2023, reflecting market benchmarking; annual bonus funded at 126.2% on strong 2024 execution .
- Vesting cadence and potential selling pressure: RSUs vest annually each Nov 20 (2024 grants) and PRSUs vest upon certification around Feb 20 of the following year; combined schedules can create periodic liquidity events, though option grants at $9.98 are currently out‑of‑the‑money relative to $1.26, moderating option‑related selling pressure .
- Governance protections: Double‑trigger equity acceleration on CIC, clawback policy (NYSE/Dodd‑Frank), and strict anti‑hedging/pledging policies support alignment with long‑term shareholder value .
Investment Implications
- Incentive alignment: Alberto’s cash and equity incentives are explicitly tied to NA revenue, subscriber growth, and Adjusted EBITDA—metrics investors track for Fubo’s path to profitability—lowering execution drift risk .
- Retention and CIC economics: The Executive Severance Plan provides competitive protections; double‑trigger vesting and 1.5x cash multiple under CIC could reduce voluntary turnover risk, but represent potential transaction costs in change‑of‑control scenarios .
- Near‑term supply dynamics: Annual RSU tranches (Nov 20) and PRSU certifications (~Feb 20) are likely vesting overhangs; options at $9.98 (2020 grant) remain far OTM vs $1.26 YE’24, limiting option‑exercise related supply unless share price materially re‑rates .
- Ownership and alignment: Beneficial ownership <1% and prohibitions on hedging/pledging reduce misalignment risks; substantial unvested PRSUs/RSUs maintain skin‑in‑the‑game with performance contingencies and service requirements .