Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As previously disclosed, at the request of Carl Daikeler, Chairman and Chief
Executive Officer of The Beachbody Company, Inc. (the "Company"), the
Compensation Committee (the "Committee") of the Company's Board of Directors
approved the reduction of Mr. Daikeler's annual base salary to $1.00 per year,
effective as of November 15, 2021 (the "Reduction"). Due to the substantial
achievement of cost savings for the Company during calendar year 2022 and
unwavering focus on return to profitability, on December 28, 2022 the Committee
determined to restore Mr. Daikeler's annual base salary to $850,000, the same
level in effect immediately prior to the Reduction, effective as of January 1,
2023 on a going-forward basis.
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