John Janedis
FuboTVAbout John Janedis
John Janedis (age 54) is Fubo’s Chief Financial Officer, appointed in February 2022, with prior senior equity research and capital markets roles across leading media and telecom coverage; he holds a B.A. in Economics and an MBA in Finance from New York University . During his tenure, Fubo delivered strong operational progress, including North America revenue of $1.59B in 2024 (+19% YoY), record ARPU, and second consecutive year of >$100M improvements in Adjusted EBITDA and Free Cash Flow, with Q4 2024 marking its first-ever quarter of positive free cash flow . Fubo’s incentives and Janedis’ variable pay are primarily tied to Adjusted EBITDA, North America revenue and subscribers, aligning finance execution with core value drivers .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Wolfe Research | Managing Director, Senior Equity Research Analyst (Media, Cable, Telecom) | 2020–2022 | Sell-side leadership covering industry KPIs and valuation drivers |
| TEGNA Inc. | SVP, Capital Markets, Treasurer & Investor Relations | 2018–2020 | Led capital markets, liquidity and investor communications |
| Jefferies LLC | Managing Director, Senior Equity Research Analyst | 2014–2018 | Top-ranked coverage; sector modeling and institutional client insight |
| UBS Securities | Managing Director, Senior Equity Research Analyst | 2010–2014 | Fundamental analysis and investment recommendations |
| Wells Fargo Securities | Senior Equity Research Analyst | 2006–2010 | Early sell-side foundation in media/telecom |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| New York University | B.A. Economics; MBA Finance | N/A | Technical foundation in corporate finance and capital markets |
Fixed Compensation
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Base Salary ($) | $387,652 | $480,000 | $537,950 (actual paid; 3% merit increase mid-2024) |
| Target Bonus (% of Base) | Not disclosed | 60% | 75% (raised from 60% in 2024) |
| Actual Annual Cash Incentive ($) | $207,886 | $330,047 | $511,781 |
| Discretionary Bonus ($) | — | — | $50,000 |
Notes:
- 2024 base salaries were adjusted mid-year; summary compensation reflects actual paid amounts .
- 2024 annual bonus program: target % increased to 75% (Janedis), with 100% corporate metrics (EBITDA/revenue/subscribers); max payout 135% of target .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Adjusted EBITDA (2024 annual bonus) | 50% | Not disclosed | Corporate achievement 121.6% | Corporate payout 126.2% | Cash bonus paid in Q1 2025 |
| North America Revenue (2024 annual bonus) | 25% | Not disclosed | Included in corporate achievement | Included in corporate payout | Cash bonus paid in Q1 2025 |
| North America Subscribers (2024 annual bonus) | 25% | Not disclosed | Included in corporate achievement | Included in corporate payout | Cash bonus paid in Q1 2025 |
| PRSUs (2025 performance year) | EBITDA 50%; NA Revenue 25%; NA Subs 25% | 0–100% of shares eligible; “target” shown in grants | Not disclosed (certified following performance year) | 0–100% of target shares | Vests on certification by on/before Feb 20, 2026 (for 2025) |
| PRSUs (2025–2028 annual tranches) | Annual cycles 2025–2028 | Threshold–Target per year | Not disclosed | 0–100% per year | Vests on certification on/before Feb 20 of 2026–2029 respectively |
Equity Awards Detail (Grants and Vesting)
| Grant Type | Grant Date | Shares | Fair Value ($) | Vesting Schedule | Performance Conditions |
|---|---|---|---|---|---|
| RSUs | Nov 25, 2024 | 599,880 | Included in 2024 stock awards $935,813 (combined RSU/PRSU) | 25% on Nov 20, 2024; 25% on Nov 20, 2025; 25% on Nov 20, 2026; 25% on Nov 20, 2027 | Time-based |
| PRSUs (target) | Nov 25, 2024 | 299,940 | Included in 2024 stock awards $935,813 (combined) | Annual certification dates: on/before Feb 20, 2026 (2025), 2027 (2026), 2028 (2027), 2029 (2028) | EBITDA 50%; NA Revenue 25%; NA Subs 25% |
| RSUs | Nov 20, 2023 | 284,739 | Included in 2023 stock awards $1,980,088 (combined) | 25% each on Feb 20, 2023; 2024; 2025; 2026 (note initial tranche vested) | Time-based |
| PRSUs (target) | Nov 20, 2023 | 189,825 | Included in 2023 stock awards $1,980,088 (combined) | Vests on certification for 2025 performance by on/before Feb 20, 2026 | EBITDA 50%; NA Revenue 25%; NA Subs 25% |
| RSUs | Nov 20, 2022 | 112,360 | Included in 2022 stock awards $1,886,560 (combined) | 25% annually through Feb 20, 2026 | Time-based |
| RSUs | Mar 12, 2022 | 52,756 | Included in 2022 stock awards $1,886,560 (combined) | Not disclosed (time-based) | Time-based |
Equity Ownership & Alignment
| Item | Status |
|---|---|
| Total beneficial ownership | Not listed as a beneficial owner in 2024 or 2025 tables (less than 1%) |
| Ownership % of shares outstanding | <1% (not separately reported; see beneficial ownership tables) |
| Vested vs. unvested (as of 12/31/2024) | RSUs unvested: 599,880 ($755,849); 284,739 ($358,771); 52,756 ($66,473); 112,360 ($141,574). PRSUs unearned: 299,940 ($377,924); 189,825 ($239,180). Values based on $1.26/share |
| Options (exercisable/unexercisable) | None reported for Janedis |
| Shares pledged | Prohibited under policy (“No Hedging/Pledging of Company Stock”) |
| Hedging policy | Anti-hedging policy prohibits hedging transactions |
| Stock ownership guidelines | Not disclosed in proxy for executive officers (guidelines not specified) |
Implication: Significant RSU and PRSU vest dates (primarily around Feb 20 and Nov 20 annually) could create periodic selling pressure if shares are sold upon vesting; policies restrict hedging/pledging, supporting alignment .
Employment Terms
| Term | Detail |
|---|---|
| Start date and role | CFO since February 2022; employment letter dated January 3, 2022 |
| Severance (outside change-in-control) | 12 months’ base salary; lump sum equal to target annual bonus (prorated under plan, but Janedis’ participation provides full target bonus in lieu of proration and accelerated vesting of commencement RSUs); 12 months COBRA reimbursement; release and covenants required |
| Change-in-control (double trigger; within 24 months) | Lump sum 1.5× (base salary + target bonus); prior-year unpaid bonus; prorated target bonus for year of termination; 18 months COBRA; accelerated vesting of time-vesting equity |
| Restrictive covenants | Confidentiality; 12-month post-termination employee non-solicit; non-disparagement |
| Anti-amendment protection | Board amended Severance Plan (Jan 5, 2025) to prohibit adverse amendments in connection with or anticipation of a change-in-control without participant consent for 24 months post-CIC |
| Clawback | Awards subject to Dodd-Frank/NYSE-compliant clawback policy |
Say-on-Pay & Shareholder Feedback
- Say-on-Pay support: ~89% approval in 2024; prior approvals ~99% (2020), 95% (2021), 80% (2023); lower 2022 led to shareholder outreach and program changes .
- Program changes: Raised CFO target bonus (60% → 75%), shifted annual bonuses (for NEOs other than CEO previously) from 50% corporate/50% individual to 100% corporate, and increased PRSU weighting tied to EBITDA/revenue/subscribers .
Performance & Track Record
- 2024 operating results: North America revenue $1.59B (+19% YoY), ARPU $87.90, 1.676M subscribers (+4% YoY); Adjusted EBITDA improved by $115M; Free Cash Flow improved by $104M; Q4 2024 achieved positive FCF .
- 2023 operating results: Global revenue $1.37B (+36% YoY); NA revenue $1.33B (+20%); Adjusted EBITDA improved by $122M; Free Cash Flow improved by $101M .
Compensation Structure Analysis
- Year-over-year mix: Increased CFO target bonus to market; 2024 actual payouts were materially above target given corporate overachievement; discretionary $50,000 paid for 2024 performance .
- Shift to PRSUs: Heavy use of multi-year PRSUs linked to EBITDA, revenue, subscriber objectives, reducing reliance on options and increasing direct linkage to profitability and scale metrics .
- Governance enhancements: Clawback policy, no hedging/pledging, double-trigger vesting, and anti-repricing provisions under the equity plan .
Risk Indicators & Red Flags
- Hedging/pledging: Prohibited for officers and directors .
- Severance economics: 1.5× salary+target bonus under CIC with accelerated time-based equity—market-standard but increases deal-related costs; anti-amendment clause adds participant protection .
- Vesting concentration: Annual RSU/PRSU certification/vesting dates (Feb 20 and Nov 20) may coincide with potential insider selling windows; governed by insider trading policy .
Equity & Cash Compensation Tables
Summary Compensation (CFO – Janedis)
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Salary ($) | $387,652 | $480,000 | $537,950 |
| Stock Awards ($) | $1,886,560 | $1,980,088 | $935,813 |
| Non-Equity Incentive Plan ($) | $207,886 | $330,047 | $511,781 |
| Bonus ($) | — | — | $50,000 |
| All Other Compensation ($) | $21,563 | $24,612 | $26,489 |
| Total ($) | $2,503,661 | $2,814,747 | $2,062,033 |
Outstanding Equity Awards (as of 12/31/2024)
| Award | Shares Unvested | Market/Payout Value ($) | Terms |
|---|---|---|---|
| RSUs (11/25/2024) | 599,880 | $755,849 (at $1.26) | 25% annually on Nov 20, 2024–2027 |
| PRSUs (11/25/2024) | 299,940 | $377,924 (at $1.26) | Vests per annual certification 2026–2029 |
| RSUs (11/20/2023) | 284,739 | $358,771 | Feb 20 annual tranches through 2026 |
| PRSUs (11/20/2023) | 189,825 | $239,180 | Certifies 2025 performance by Feb 20, 2026 |
| RSUs (3/12/2022) | 52,756 | $66,473 | Time-based |
| RSUs (11/20/2022) | 112,360 | $141,574 | Time-based through 2026 |
Investment Implications
- Pay-for-performance alignment: CFO variable compensation is tightly linked to Adjusted EBITDA, revenue, and subscriber growth—key drivers of valuation; recent corporate overachievement translated to above-target cash bonuses and robust PRSU design .
- Retention and CIC protection: Executive Severance Plan provides competitive protection (1.5× salary+target bonus and time-based equity acceleration on double trigger), plus anti-amendment clause around CIC—supportive of retention but adds deal-related expense considerations .
- Potential selling pressure: RSU tranches (Nov 20 annually) and PRSU certifications (Feb 20 annually) create predictable vesting windows; while hedging/pledging is prohibited, investors should monitor Form 4s around these dates for insider transactions as awards settle .
- Ownership alignment: Janedis is not listed as a beneficial owner in 2024/2025 tables (<1% ownership), but meaningful unvested equity exists; strict anti-hedging/pledging and clawback policies help preserve alignment even with low current ownership .