Gilbert Fuchsberg, President of Subscriptions at Roku, Inc. (NASDAQ:ROKU), filed a Form 4 on November 10, 2026 disclosing the disposition of Class A Common Stock, stock options, and restricted stock units on November 6, 2026, the date Roku's merger with Fox Corporation was completed.

Key Highlights

  • Merger completed: Roku and Fox Corporation closed the transaction on November 6, 2026, as described in the Merger Agreement dated June 14, 2026.
  • Shares disposed: 40,168 shares of Class A Common Stock held directly by Fuchsberg were converted at the merger's effective time.
  • Merger consideration: Each share of Roku common stock was converted into 0.9799 shares of FOX Class A Common Stock plus $95.30 in cash, without interest.
  • Options cancelled: Two fully vested employee stock options covering 11,050 shares (exercise price $58.58) and 8,096 shares (exercise price $74.15) were cancelled and converted into the right to receive merger consideration net of exercise price.
  • RSUs cancelled: Four unvested restricted stock unit awards covering 24,686, 24,387, 18,602, and 2,244 shares, respectively, were cancelled and converted into Converted RSU Cash Awards and Converted RSU Equity Awards under the merger terms.
  • Post-transaction ownership: Following all reported transactions, Fuchsberg's direct beneficial ownership of Roku Class A Common Stock, options, and RSUs each reflected a balance of 0, as reported in the filing.

Roku-Fox Merger Triggers Conversion of Fuchsberg's Equity Holdings

According to the filing, the transactions reported by Gilbert Fuchsberg, who served as President of Subscriptions at Roku, Inc., resulted entirely from the closing of the merger between Roku and Fox Corporation on November 6, 2026. The filing identifies the governing document as the Agreement and Plan of Merger dated June 14, 2026, among Roku, Fox Corporation, Falcon Merger Sub 1, Inc., and Falcon Merger Sub 2, LLC. Under the merger terms, each outstanding share of Roku Class A and Class B Common Stock held by Fuchsberg was converted into the right to receive 0.9799 shares of FOX Class A Common Stock plus $95.30 in cash, without interest, with cash paid in lieu of fractional shares.

The filing further discloses that Fuchsberg held two fully vested employee stock options at the time of the merger's effective time. The option with an exercise price of $58.58, covering 11,050 shares with an expiration date of August 15, 2034, and the option with an exercise price of $74.15, covering 8,096 shares with an expiration date of August 15, 2032, were each classified as Vested In-the-Money Company Options under the Merger Agreement. According to the filing, these were cancelled and automatically converted into the right to receive the merger consideration reduced by the applicable per-share exercise price, paid in the same proportion of FOX Class A Common Stock and cash. The value of merger consideration for this calculation was based on the closing trading price of FOX Class A Common Stock on November 5, 2026.

The filing also reports that four unvested restricted stock unit awards, covering 24,686, 24,387, 18,602, and 2,244 shares of Roku Class A Common Stock, were each cancelled immediately prior to the effective time. The filing states they were converted into two components: a Converted RSU Cash Award, equal to the per-share cash amount for each underlying share, and a Converted RSU Equity Award, representing a number of FOX Class A Common Stock restricted stock units determined by multiplying the original share count by the exchange ratio. The filing notes that FOX retains sole discretion over whether Converted RSU Cash Awards are settled in cash, FOX Class A Common Stock, or a combination, with values based on FOX's closing trading price on the day before payment.

What Was Disclosed

Gilbert Fuchsberg, Roku's President of Subscriptions, reported the conversion and cancellation of all directly held Roku equity, including 40,168 shares of Class A Common Stock, two vested stock options, and four unvested RSU awards, in connection with the closing of Roku's merger with Fox Corporation on November 6, 2026.