| | THE BOARD RECOMMENDS THAT YOU VOTE “FOR” EACH OF THE DIRECTOR NOMINEES | | |
| | THE BOARD RECOMMENDS | | |
| | Year Ended December 31, | | | Year Ended December 31, | | ||||||||||||||||||||
| | 2020 | | 2021 | | | 2021 | | 2022 | | ||||||||||||||||
Audit Fees(1) | | | $ | 330,000 | | | | $ | 385,000 | | | | | $ | 485,000 | | | | $ | 670,000 | | | ||||
Audit-Related Fees(2) | | | | 110,500 | | | | | 181,500 | | | | | | 81,500 | | | | | 76,420 | | | ||||
Tax Fees(3) | | | | 72,500 | | | | | 98,770 | | | | | | — | | | | | — | | | ||||
All Other Fees | | | | — | | | | | — | | | | | | — | | | | | — | | | ||||
Total Fees | | | $ | 513,000 | | | | $ | 665,270 | | | | | $ | 566,500 | | | | $ | 746,420 | | |
| | THE BOARD RECOMMENDS A VOTE “FOR” THE RATIFICATION OF THE APPOINTMENT OF ROSENFIELD INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM | | |
Name | | | Age | | | Position | | | Audit Committee | | | Compensation Committee | | | Nominating & Governance Committee | | | Technology, Data & Innovation Committee | |
William J. Rouhana, Jr.* | | | | | Chairman of the Board and Chief Executive Officer | | | | | | | | | | | | | | |
Christopher Mitchell* | | | | | Chief Financial Officer (Parent) and Director | | | | | | | | | | | | | | |
| | | | Chief | | | | | | | | | | | | | | ||
Amy L. Newmark* | | | | | Senior Brand Advisor and Director | | | | | | | | | | | | | | |
Fred M. Cohen | | | | | Director | | | ✓ | | | ✓ | | | ✓ | | | | | |
Cosmo DeNicola | | | | | Director | | | ✓ | | | | | | | | | ✓ | | |
Martin Pompadur | | | | | Director | | | | | | | | | ✓ | | | ✓ | | |
Christina Weiss Lurie | | | | | Director | | | | | | ✓ | | | | | | | | |
Diana Wilkin | | | | | Director | | | ✓ | | | ✓ | | | | | | ✓ | | |
Vikram Somaya | | | | | Director | | | | | | | | | ✓ | | | ✓ | |
| | | | | | Experience | | ||||||||||||||||
| | | | Executive Leadership | | | Public Company Director | | | Audit Committee Financial Expert(1) | | | Finance | | | Law | | | M&A | | | Media & Entertainment Industry Experience | |
| William J. Rouhana, Jr. | | | ✓ | | | | | | | | | ✓ | | | ✓ | | | ✓ | | | ✓ | |
| Christopher Mitchell | | | ✓ | | | | | | | | | ✓ | | | | | | ✓ | | | ✓ | |
| Amy L. Newmark | | | ✓ | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | ✓ | |
| Fred M. Cohen | | | ✓ | | | | | | | | | | | | | | | ✓ | | | ✓ | |
| Cosmo DeNicola | | | ✓ | | | | | | ✓ | | | ✓ | | | | | | ✓ | | | ✓ | |
| Martin Pompadur | | | ✓ | | | ✓ | | | | | | | | | ✓ | | | ✓ | | | ✓ | |
| Christina Weiss Lurie | | | ✓ | | | | | | | | | | | | | | | | | | ✓ | |
| Diana Wilkin | | | ✓ | | | | | | | | | | | | | | | | | | ✓ | |
| Vikram Somaya | | | ✓ | | | | | | | | | | | | | | | ✓ | | | ✓ | |
| | | |
| Board Diversity Matrix (As of April 28, 2022) | | | | | | |||||||||||||||||||||
| Board Size: | | | | | | | | |||||||||||||||||||
| Total Number of Directors | | | | 9 | | | | |||||||||||||||||||
| | | | | Female | | | | Male | | | | Did Not Disclose Gender | | | | |||||||||||
| Gender Identity | | | | | | | | | | | | | | | | | | | | | | | | | ||
| Directors | | | | | | 2 | | | | | | | 6 | | | | | | | 1 | | | | | ||
| Demographic Background | | | | | | | | | | | | | | | | | | | | | | | | | ||
| Asian | | | | | | 0 | | | | | | | 1 | | | | | | | 0 | | | | | ||
| White | | | | | | 2 | | | | | | | 5 | | | | | | | 0 | | | | | ||
| Did Not Disclose Demographic Background | | | | 1 | | | |
| Board Diversity Matrix (As of May 3, 2023) | | | | | | |||||||||||||||||||||
| Board Size: | | | | | | | | |||||||||||||||||||
| Total Number of Directors | | | | 9 | | | | |||||||||||||||||||
| | | | | Female | | | | Male | | | | Did Not Disclose Gender | | | | |||||||||||
| Gender Identity | | | | | | | | | | | | | | | | | | | | | | | | | ||
| Directors | | | | | | 2 | | | | | | | 6 | | | | | | | 1 | | | | | ||
| Demographic Background | | | | | | | | | | | | | | | | | | | | | | | | | ||
| Asian | | | | | | 0 | | | | | | | 1 | | | | | | | 0 | | | | | ||
| White | | | | | | 2 | | | | | | | 5 | | | | | | | 0 | | | | | ||
| Did Not Disclose Demographic Background | | | | | | | | | | | | | 1 | | | | | | | | | | | |
Name | | Fees Earned or Paid in Cash ($)(1) | | Stock Awards ($)(2) | | Total ($) | | | Fees Earned or Paid in Cash ($)(1) | | Stock Awards(2) | | Total ($) | | ||||||||||||||||||||||||
Fred M. Cohen | | | | 25,000 | | | | | 24,993 | | | | | 49,993 | | | | | | 42,500 | | | | | 42,500 | | | | | 85,000 | | | ||||||
Christina Weiss Lurie | | | | 25,000 | | | | | 24,993 | | | | | 49,993 | | | | | | 42,500 | | | | | 42,500 | | | | | 85,000 | | | ||||||
Diana Wilkin | | | | 25,000 | | | | | 24,993 | | | | | 49,993 | | | | | | 42,500 | | | | | 42,500 | | | | | 85,000 | | | ||||||
Cosmo DeNicola | | | | 25,000 | | | | | 24,993 | | | | | 49,993 | | | | | | 42,500 | | | | | 42,500 | | | | | 85,000 | | | ||||||
Martin Pompadur | | | | 25,000 | | | | | 24,993 | | | | | 49,993 | | | | | | 42,500 | | | | | 42,500 | | | | | 85,000 | | | ||||||
Vikram Somaya | | | | 12,500 | | | | | — | | | | | 12,500 | | | | | | 42,500 | | | | | 42,500 | | | | | 85,000 | | |
Name and Position | | Year | | Salary ($)(1) | | Bonus ($)(1) | | Stock Awards ($) (2) | | All Other (1) | | Total ($) | | | Year | | Salary($) | | Bonus ($) | | Stock Awards ($)(2) | | All Other | | Total ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||
William J. Rouhana, Jr. | | | | 2021 | | | | | 135,000 | | | | | — | | | | | — | | | | | 9,638 | | | | | 144,638 | | | | | | 2022 | | | | | 375,000 | | | | | — | | | | | — | | | | | 10,856 | | | | | 385,856 | | | ||||||||||||
Chief Executive Officer | | | | 2020 | | | | | 126,000 | | | | | — | | | | | — | | | | | 8,595 | | | | | 134,595 | | | | | | 2021 | | | | | 135,000 | | | | | — | | | | | — | | | | | 9,638 | | | | | 144,638 | | | ||||||||||||
Scott W. Seaton | | | | 2021 | | | | | 29,623 | | | | | — | | | | | — | | | | | 3,391 | | | | | 33,014 | | | |||||||||||||||||||||||||||||||||||||||||||
Vice Chairman(3) | | | | 2020 | | | | | 62,500 | | | | | — | | | | | — | | | | | 6,819 | | | | | 69,319 | | | |||||||||||||||||||||||||||||||||||||||||||
Christopher Mitchell | | | | 2021 | | | | | 200,000 | | | | | 150,000 | | | | | — | | | | | 19,024 | | | | | 369,024 | | | |||||||||||||||||||||||||||||||||||||||||||
Christopher Mitchell(1)(3) | | | | 2022 | | | | | 400,962 | | | | | 160,385 | | | | | — | | | | | 35,264 | | | | | 596,611 | | | |||||||||||||||||||||||||||||||||||||||||||
Chief Financial Officer | | | | 2020 | | | | | 200,000 | | | | | 125,000 | | | | | — | | | | | 18,204 | | | | | 343,204 | | | | | | 2021 | | | | | 200,000 | | | | | 150,000 | | | | | — | | | | | 19,024 | | | | | 369,024 | | | ||||||||||||
Jason Meier(3) | | | | 2022 | | | | | 366,539 | | | | | 96,766 | | | | | — | | | | | 30,571 | | | | | 493,876 | | | |||||||||||||||||||||||||||||||||||||||||||
Chief Financial Officer | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||
Galen Smith(4) | | | | 2022 | | | | | 311,233 | | | | | 960,000 | | | | | 739,211 | | | | | 2,841,909 | | | | | 4,852,353 | | | |||||||||||||||||||||||||||||||||||||||||||
Executive Vice Chairman | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||
Elana B. Sofko | | | | 2021 | | | | | 396,731 | | | | | 208,750 | | | | | 263,097 | | | | | 10,658 | | | | | 879,236 | | | | | | 2021 | | | | | 396,731 | | | | | 208,750 | | | | | 263,097 | | | | | 10,658 | | | | | 879,236 | | | ||||||||||||
Chief Strategy Officer | | | | 2020 | | | | | 390,000 | | | | | 160,000 | | | | | — | | | | | 18,147 | | | | | 568,147 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Year | | | Summary Compensation Table Total for PEO | | | Compensation Actually Paid to PEO | | | Average Summary Compensation Table Total for Non-PEO NEOs(1) | | | Average Compensation Actually Paid to Non-PEO NEOs(1) | | | Value of Initial Fixed $100 Investment Based On: Total Shareholder Return | | | Net Income (Loss) | | ||||||||||||||||||
2022 | | | | $ | 385,856 | | | | | $ | 385,856 | | | | | $ | 1,980,947 | | | | | $ | 1,966,613 | | | | | $ | (72.52) | | | | | $ | (111,290,202) | | |
2021 | | | | $ | 144,638 | | | | | $ | 144,638 | | | | | $ | 464,299 | | | | | $ | 605,188 | | | | | $ | (24.90) | | | | | $ | (59,419,724) | | |
| | Potential Payments ($) | | | Potential Payments ($) | | ||||||||||||||||||||||||||||||||||||||||||||
Name | | By the Executive | | By the Company for Cause | | By the Company Without Cause | | Change In Control of the Company | | | By the Executive for Good Reason | | By the Company for Cause | | By the Company Without Cause | | Change In Control of the Company | | ||||||||||||||||||||||||||||||||
Jason Meier | | | $ | 475,000 | | | | | — | | | | $ | 475,000 | | | | $ | — | | | |||||||||||||||||||||||||||||
Elana B. Sofko | | | | — | | | | | — | | | | $ | 200,000 | | | | $ | 585,000 | | | | | | — | | | | | — | | | | $ | 200,000 | | | | $ | 585,000 | | |
Name | | Number of Securities Underlying Unexercised Options (#) Exercisable | | Option Award Number of Securities Underlying Unexercised Options (#) Unexercised | | Option Exercise Price ($) | | Option Expiration Date | | | Number of Securities Underlying Unexercised Options (#) Exercisable | | Option Award Number of Securities Underlying Unexercised Options (#) Unexercised | | Option Exercise Price ($) | | Option Expiration Date | | ||||||||||||||||||||||||||||||||
William J. Rouhana, Jr. | | | | — | | | | | — | | | | | — | | | | | — | | | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||
Chief Executive Officer | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||
Scott W. Seaton | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||||||||||||
Vice Chairman(1) | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||
Christopher Mitchell | | | | 100,000 | | | | | — | | | | $ | 8.08 | | | | | 1/15/2024 | | | |||||||||||||||||||||||||||||
Christopher Mitchell(3) | | | | 100,000 | | | | | — | | | | $ | 8.08 | | | | | 1/15/2024 | | | |||||||||||||||||||||||||||||
Chief Financial Officer | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||
Jason Meier | | | | 7,500 | | | | | 7,500 | | | | $ | 22.00 | | | | | 10/5/2026 | | | |||||||||||||||||||||||||||||
Chief Financial Officer | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||
Elana B. Sofko | | | | 33,948 | | | | | — | | | | $ | 14.05 | | | | | 12/8/2026 | | | | | | 33,948 | | | | | — | | | | $ | 14.05 | | | | | 12/8/2026 | | | ||||||||
Chief Strategy Officer | | | | 100,000 | | | | | — | | | | $ | 8.08 | | | | | 1/15/2024 | | | | | | 100,000 | | | | | — | | | | $ | 8.08 | | | | | 1/15/2024 | | | ||||||||
Galen C. Smith | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||||||||||||
Vice Chairman | | | | | | | | | | | | | | | | | | | | | |
| | | Potential Termination Payments | | |||||||||||||||
Name | | | By the Executive ($) | | | By Company for Cause ($) | | | By Company without Cause ($) | | |||||||||
Elana B. Sofko | | | | | — | | | | | | — | | | | | $ | 720,000 | | |
| | | Option Awards | | |||||||||||||||||||||
Name | | | Number of Securities Underlying Unexercised Options (#) Exercisable | | | Number of Securities Underlying Unexercised Options (#) Unexercisable | | | Option Exercise Price ($) | | | Option Expiration Date | | ||||||||||||
William J. Rouhana, Jr. | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Chief Executive Officer | | | | | | | | | | | | | | | | | | | | | | | | | |
Scott W. Seaton | | | | | | | | | | | — | | | | | | | | | | | | | | |
Vice Chairman | | | | | | ||||||||||||||||||||
Christopher Mitchell | | | | | 100,000 | | | | | | — | | | | | | 8.08 | | | | | | 1/15/2024 | | |
Chief Financial Officer | | | | | | | | | | | | | | | | | | | | | | | | | |
Elana B. Sofko | | | | | 33,948 | | | | | | — | | | | | | 14.05 | | | | | | 12/08/2026 | | |
Chief Operating Officer | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Shares Beneficially Owned | | | Shares Beneficially Owned | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Name and Address of Beneficial Owner(1) | | Class A | | % | | Class B | | % | | Percent of Total Voting Power(2) | | | Class A | | % | | Class B | | % | | Percent of Total Voting Power(2) | | ||||||||||||||||||||||||||||||||||||||||
Current Directors and Officers: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||
William J. Rouhana, Jr.(3)(4) | | | | 316,932 | | | | | 4.2% | | | | | 7,654,506 | | | | | 100% | | | | | 91.5% | | | | | | 3,284,271 | | | | | 16.1% | | | | | 7,654,506 | | | | | 100% | | | | | 82.3% | | | ||||||||||
Vikram Somaya | | | | — | | | | | 0% | | | | | — | | | | | 0% | | | | | * | | | | | | 6,363 | | | | | 0.0% | | | | | — | | | | | — | | | | | * | | | ||||||||||
Christopher Mitchell(5) | | | | 104,250 | | | | | 1.4% | | | | | — | | | | | 0% | | | | | * | | | | | | 104,250 | | | | | 0.5% | | | | | — | | | | | — | | | | | * | | | ||||||||||
Elana B. Sofko(6) | | | | 168,750 | | | | | 2.3% | | | | | — | | | | | 0% | | | | | * | | | ||||||||||||||||||||||||||||||||||||
Jason Meier(6) | | | | 8,750 | | | | | 0.0% | | | | | — | | | | | — | | | | | * | | | ||||||||||||||||||||||||||||||||||||
Amy L. Newmark(3)(7) | | | | 61,464 | | | | | 0.8% | | | | | — | | | | | 0% | | | | | * | | | | | | 161,464 | | | | | 0.8% | | | | | — | | | | | — | | | | | * | | | ||||||||||
Fred M. Cohen | | | | 14,364 | | | | | 0.2% | | | | | — | | | | | 0% | | | | | * | | | | | | 21,754 | | | | | 0.1% | | | | | — | | | | | — | | | | | * | | | ||||||||||
Cosmo DeNicola(8) | | | | 261,338 | | | | | 3.5% | | | | | — | | | | | 0% | | | | | * | | | | | | 318,068 | | | | | 1.6% | | | | | — | | | | | — | | | | | * | | | ||||||||||
Martin Pompadur | | | | 2,855 | | | | | 0.0% | | | | | — | | | | | 0% | | | | | * | | | | | | 10,245 | | | | | 0.1% | | | | | — | | | | | — | | | | | * | | | ||||||||||
Christina Weiss Lurie | | | | 33,117 | | | | | 0.4% | | | | | — | | | | | 0% | | | | | * | | | | | | 58,007 | | | | | 0.3% | | | | | — | | | | | — | | | | | * | | | ||||||||||
Diana Wilkin | | | | 21,447 | | | | | 0.3% | | | | | — | | | | | 0% | | | | | * | | | | | | 28,837 | | | | | 0.1% | | | | | — | | | | | — | | | | | * | | | ||||||||||
All current directors and executive officers as a group (ten persons) (9) | | | | 984,517 | | | | | 12.6% | | | | | 7,654,506 | | | | | 100% | | | | | 92.3% | | | | | | 4,002,009 | | | | | 19.6% | | | | | 7,654,506 | | | | | 100% | | | | | 83.1% | | | ||||||||||
Five Percent Holders: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||
Chicken Soup for the Soul Productions, LLC | | | | — | | | | | 0% | | | | | 7,654,506 | | | | | 100% | | | | | 91.1% | | | | | | 2,774,163 | | | | | 13.6% | | | | | 7,654,506 | | | | | 100% | | | | | 81.8% | | | ||||||||||
Sony Corporation(10) | | | | 4,000,000 | | | | | 53.5% | | | | | — | | | | | 0% | | | | | * | | | | | | 4,000,000 | | | | | 19.6% | | | | | — | | | | | — | | | | | 5.0% | | | ||||||||||
Royce & Associates, LP(11) | | | | 530,863 | | | | | 7.1% | | | | | — | | | | | 0% | | | | | * | | | ||||||||||||||||||||||||||||||||||||
Ophir Global Opportunities Fund(12) | | | | 524,797 | | | �� | | 4.6% | | | | | — | | | | | 0% | | | | | * | | | ||||||||||||||||||||||||||||||||||||
Bank of America Corporation(13) | | | | 574,502 | | | | | 7.7% | | | | | — | | | | | 0% | | | | | * | | | ||||||||||||||||||||||||||||||||||||
Granaham Investment Management, Inc.(14) | | | | 1,005,193 | | | | | 13.5% | | | | | — | | | | | 0% | | | | | * | | | ||||||||||||||||||||||||||||||||||||
Islet Management, LP(15) | | | | 718,240 | | | | | 9.6% | | | | | — | | | | | 0% | | | | | * | | | ||||||||||||||||||||||||||||||||||||
Granaham Investment Management, Inc.(11) | | | | 1,379,179 | | | | | 6.8% | | | | | — | | | | | — | | | | | 1.7% | | | ||||||||||||||||||||||||||||||||||||
HPS Investment Partners, LLC(12) | | | | 1,011,530 | | | | | 5.0% | | | | | — | | | | | — | | | | | 1.3% | | | ||||||||||||||||||||||||||||||||||||
Redwood Holdco, LP(13) | | | | 2,850,990 | | | | | 14.0% | | | | | — | | | | | — | | | | | 3.5% | | |
| | Year Ended December 31, | | | Year Ended December 31, | | ||||||||||||||||||||
| | 2020 | | 2021 | | | 2021 | | 2022 | | ||||||||||||||||
Audit Fees(1) | | | $ | 330,000 | | | | $ | 385,000 | | | | | $ | 485,000 | | | | $ | 670,000 | | | ||||
Audit-Related Fees(2) | | | | 110,500 | | | | | 181,500 | | | | | | 81,500 | | | | | 76,420 | | | ||||
Tax Fees(3) | | | | 72,500 | | | | | 98,770 | | | | | | — | | | | | — | | | ||||
All Other Fees | | | | — | | | | | — | | | | | | — | | | | | — | | | ||||
Total Fees | | | $ | 513,000 | | | | $ | 665,270 | | | | | $ | 566,500 | | | | $ | 746,420 | | |
| | | | William J. Rouhana, Jr. Chief Executive Office | |