Equity-Based Compensation (Tables)

9 Months Ended

Jun. 30, 2026

Schedule of Stock-based Compensation Expense

The Company recognized stock-based compensation expense as follows (in thousands):


	Three Months Ended				Nine Months Ended
	June 30, 2026		June 28, 2025		June 30, 2026		June 28, 2025
Subscriber related expenses	$	66	$	—	$	180	$	—
Sales and marketing	2,422		—		7,774		—
Technology and development	2,213		—		6,779		—
General and administrative	4,776		—		17,626		—
Total stock-based compensation expense	$	9,477	$	—	$	32,359	$	—

Schedule of of Stock Option Activity

A summary of time-based stock option activity for the nine months ended June 30, 2026 is as follows (in thousands, except share and per share amounts):


	Number of Shares	Weighted Average Exercise Price		Total Intrinsic Value		Weighted Average Remaining Contractual Life (Years)
Outstanding as of September 27, 2025	—	$	—	$	—	N/A
Assumed from Fubo	655,138	$	90.56	$	2,755	3.9

Exercised	(13,719)	$	7.51
Forfeited or expired	(55,216)	$	122.70
Outstanding as of June 30, 2026	586,203	$	89.48	$	2	3.9

Options vested and exercisable as of June 30, 2026	572,949	$	91.21	$	2	3.5

A summary of activity under the 2020 Plan for market and service-based stock options for the nine months ended June 30, 2026 is as follows (in thousands, except share and per share amounts):


	Number of Shares	Weighted Average Exercise Price		Total Intrinsic Value		Weighted Average Remaining Contractual Life (Years)
Outstanding as of September 27, 2025	—	$	—	$	—	N/A
Assumed from Fubo	371,110	$	153.00	$	—	1.8

Outstanding as of June 30, 2026	371,110	$	153.00	$	—	1.2

Options vested and exercisable as of June 30, 2026	371,110	$	153.00	$	—	1.2

Schedule of Nonvested Restricted Stock Units Activity

A summary of the Company’s time-based restricted stock unit activity during the nine months ended June 30, 2026 is as follows:


	Number of Shares	Weighted Average Grant-Date Fair Value
Unvested at September 27, 2025	—	N/A
Assumed from Fubo	2,887,103	$	31.18
Granted	371,167	$	43.85
Vested	(881,843)	$	36.23
Forfeited or expired	(70,696)	$	29.35
Unvested at June 30, 2026	2,305,731	$	31.34

A summary of the Company’s performance-based restricted stock unit activity during the nine months ended June 30, 2026 is as follows:


	Number of Shares	Weighted Average Grant-Date Fair Value
Unvested at September 27, 2025	—	N/A
Assumed from Fubo	357,915	$	58.14
Granted	129,689	$	44.28
Vested	(29,062)	$	37.75

Unvested at June 30, 2026	458,542	$	55.51

A summary of the Company’s market and service-based restricted stock unit activity during the nine months ended June 30, 2026 is as follows:


	Number of Shares	Weighted Average Grant-Date Fair Value
Unvested at September 27, 2025	—	N/A
Assumed from Fubo	108,732	$	33.76



Unvested at June 30, 2026	108,732	$	33.76