Form 4: Funko Director Andrew Perlmutter Reports Stock Transactions Following Resignation
SEC Form 4
Andrew Perlmutter, a director at Funko, Inc., reported the acquisition of Class A Common Stock and derivative securities following the vesting of restricted stock units and performance stock units, coinciding with his resignation.
Summary
- On March 29, 2024, Andrew Perlmutter, a director at Funko, Inc., reported transactions involving Class A Common Stock and derivative securities.
- These transactions involved the acquisition of shares through the vesting of restricted stock units (RSUs) and performance stock units.
- The RSUs were granted on various dates between April 29, 2020, and August 11, 2023, and vested based on continued employment.
- Specifically, 30,000 RSUs granted on August 11, 2023, vested fully on March 29, 2024.
- Performance stock units granted on March 8, 2022, vested at 15.67% of the original amount due to Perlmutter's resignation on March 31, 2024.
- The reported transactions resulted in Perlmutter beneficially owning 466,855 shares of Class A Common Stock.
- The filing indicates that these transactions were related to the settlement of equity awards.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't convey any explicit positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to insider transactions and is typical for publicly traded companies. It provides transparency into the stock ownership changes of company directors.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Director | Andrew Mark Perlmutter | N/A | 03/31/2024 | Resignation |
Stakeholder Impact
- Shareholders are informed about the director's stock transactions, providing transparency.
- Employees may be affected by the management change due to the director's resignation.
Key Dates
| Date | Description |
|---|---|
| 04/29/2020 | Reporting Person was granted 39,778 restricted stock units |
| 04/21/2021 | Reporting Person was granted 24,656 RSUs |
| 01/03/2022 | Reporting Person was granted 85,812 RSUs |
| 03/08/2022 | Reporting Person was granted 35,829 RSUs and 17,914 performance stock units |
| 03/06/2023 | Reporting Person was granted 38,672 RSUs |
| 08/11/2023 | Reporting Person was granted 30,000 RSUs |
| 03/29/2024 | Date of earliest transaction; vesting of RSUs and performance stock units |
| 03/31/2024 | Andrew Perlmutter's resignation date |
| 04/02/2024 | Date of Form 4 filing |
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