Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
Appointment of George Barrios
Effective August 1, 2022, George Barrios was appointed as Co-President of Progress Acquisition Corp. (the “Company”).
In 2020, George Barrios co-founded Isos Capital
Management L.P. (“Isos Capital Management”), a boutique, full-stack investment firm uniquely positioned to identify and execute
on attractive investment opportunities in the global media, entertainment, sports, and technology industries. Since December 16, 2021,
George Barrios has served as a director of Bowlero Corp. (Bowlero). Mr. Barrios was appointed National Board Chair of the Make-A-Wish
Foundation on March 23, 2021. He most recently served as Co-Chief Executive Officer of Isos Acquisition Corporation, a special purpose
acquisition company, that completed a business combination with Bowlero in the media sector’s 3rd largest SPAC transaction ($2.6B)
of 2021. Prior to that, he served as Co-President of the WWE from February 2018 to January 30, 2020. He was the Chief Strategy & Financial
Officer of the WWE from November 2013 to February 2018, and Chief Financial Officer from March 2008 to November 2013. Before that, he
was Vice President and Treasurer of The New York Times Company from January 2007 to March 2008. Mr. Barrios joined The New York Times
Company in April 2002 as Chief Financial Officer of a subsidiary, which published, among other things, The Boston Globe. Prior to that,
he was President and Chief Operating Officer of Netsilicon, Inc. from September 2000 to September 2001, a publicly held software development
company, where he helped to stabilize the business prior to its merger with Digi International Inc. in 2001. From 1994 to 2000, Mr. Barrios
served in several senior capacities for Praxair, Inc., a large supplier of industrial gasses. Earlier in his career, he held various leadership
roles in strategy and operations at Time Warner/HBO, Inc. Mr. Barrios holds a B.A. degree and an M.B.A. from the University of Connecticut.
No family relationships exist between Mr. Barrios
and any other directors or executive officers of the Company. Other than as described in this report, Mr. Barrios has no direct or indirect
material interest in any transaction or proposed transaction required to be reported under Item 404(a) of Regulation S-K and there are
no arrangements or understandings between Mr. Barrios and any other person pursuant to which he was selected as Co-President.
Appointment of Michelle Wilson
Effective August 1, 2022, Michelle Wilson was appointed as Co-President of the Company.
Michelle Wilson co-founded Isos Capital Management
in 2020 and currently serves as a board member of Turtle Beach and Make-A-Wish Connecticut. Ms. Wilson has served as Co-Chief Executive
Officer Isos Acquisition until its business combination with Bowlero, in which she now serves a member of Bowlero’s Board of Directors.
Prior to her current position, Ms. Wilson served as Co-President and Board member at WWE from February 2018 to January 2020. She served
as Chief Revenue & Marketing Officer from November 2013 to February 2018, and Chief Marketing Officer from February 2009 to February
2018. From August 2001 to February 2009, she was Chief Marketing Officer of the United States Tennis Association where she was instrumental
in making the U.S. Open the highest attended annual sporting event in the world with more than 700,000 fans in attendance every year.
She was pivotal in the implementation of several innovations for the sport, including in-stadium video screens, blue courts, instant replay
and the 2004 launch of the U.S. Open Series. From April 2000 to July 2001, she was Vice President of Marketing for the XFL. Earlier in
her career, Ms. Wilson held positions at the National Basketball Association in its domestic and international consumer products groups
as well as roles at Nabisco and Johnson & Johnson. Ms. Wilson holds a B.S.E. in Chemical Engineering from the University of Pennsylvania
and an M.B.A. from the Harvard Business School.
No family relationships exist between Ms. Wilson
and any other directors or executive officers of the Company. Other than as described in this report, Ms. Wilson has no direct or indirect
material interest in any transaction or proposed transaction required to be reported under Item 404(a) of Regulation S-K and there are
no arrangements or understandings between Ms. Wilson and any other person pursuant to which she was selected as Co-President.
Appointment of Winston Meade.
Effective August 1, 2022, Winston Meade was appointed as Chief Strategy Officer of the Company.
Since February 2021, Winston Meade has served as
Managing Director of Isos Capital Management. He most recently served as Chief Financial Officer of Isos Acquisition until its business
combination with Bowlero. Prior to that, Mr. Meade served as Managing Director at Stephens Inc. from March 2017 to December 2020 and served
as a Managing Director with UBS Investment Bank from June 2000 to March 2017. Mr. Meade has a Bachelor of Arts degree in Economics from
the University of Virginia.
No family relationships exist between Mr. Meade
and any other directors or executive officers of the Company. Other than as described in this report, Mr. Meade has no direct or indirect
material interest in any transaction or proposed transaction required to be reported under Item 404(a) of Regulation S-K and there are
no arrangements or understandings between Mr. Meade and any other person pursuant to which he was selected as Co-President.