Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
RSU Award
On August 5, 2024, the Compensation Committee of the Board of Directors of The Beachbody Company, Inc. (the "Company") approved the grant of an award of restricted stock units to Brad Ramberg under the Company's 2021 Incentive Award Plan (the "RSU Award"), to be effective as of Mr. Ramberg's appointment as the Company's Interim Chief Financial Officer on August 15, 2024 with an aggregate value of $100,000. The number of shares of Company common stock subject to the RSU Award will be determined by dividing $100,000 by the closing price per share of the Company's Class A common stock on the grant date. The RSU Award is scheduled to vest with respect to 100% of the restricted stock units on August 15, 2025, subject to Mr. Ramberg's continued employment through the vesting date.