Form 4: Funko Director Mike Kerns Boosts Stake Through RSU Vesting

Funko, Inc. Director Mike Kerns acquired 10,204 shares of Class A Common Stock through the vesting and settlement of restricted stock units, increasing his direct beneficial ownership to 13,081 shares.

Summary

• Mike Kerns, a Director of Funko, Inc. (FNKO), acquired 10,204 shares of Class A Common Stock.
• This acquisition resulted from the vesting and settlement of Restricted Stock Units (RSUs) granted as compensation for his board service.
• The RSUs were received on June 4, 2024, vested on June 4, 2025, and were settled in shares of Class A Common Stock on June 5, 2025.
• The acquisition price for these shares was $0, as it represents the conversion of equity compensation.
• Following this transaction, Mike Kerns directly beneficially owns 13,081 shares of Funko Class A Common Stock.
• The securities are held for the benefit of TCG Capital Management, LP, and Mr. Kerns disclaims beneficial ownership except to the extent of his pecuniary interest therein.
• Mr. Kerns serves on Funko's board of directors pursuant to TCG Capital Management, LP's right to nominate directors under a Stockholders Agreement.

Sentiment

Score: 7

Explanation: The filing indicates a routine, positive event of a director increasing their direct ownership through equity compensation, which is generally viewed favorably as it aligns interests. There are no negative implications or surprises.

Positives

• Director Mike Kerns increased his direct beneficial ownership of Funko Class A Common Stock by 10,204 shares, demonstrating continued alignment with shareholder interests through equity compensation.

Future Outlook

The document does not provide any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Management Comments

• "The securities included in this report were granted to the reporting person as compensation for his service on the Issuer's board of directors."
• "The reporting person disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein and this report shall not be deemed an admission that he is the beneficial owner of such securities for purposes of Section 16 or for any other purpose."

Industry Context

This Form 4 filing is a routine disclosure of insider stock transactions, specifically the vesting and settlement of equity compensation for a director. It does not provide broader industry context or trends, but such compensation practices are standard across publicly traded companies to align management and director interests with shareholders.

Corporate Governance

Related Party Transactions

• The securities are held by the reporting person for the benefit of TCG Capital Management, LP ("TCG"). Pursuant to a Stockholders Agreement with the Issuer, TCG and its affiliates have the right to nominate up to two directors to the Issuer's board of directors, subject to certain ownership thresholds. The reporting person serves on the Issuer's board of directors pursuant to this right.

Stakeholder Impact

• Shareholders: The increase in director ownership through equity compensation generally aligns the director's interests with long-term shareholder value.

Key Dates

Recommendation

Keywords

Funko, FNKO, Mike Kerns, SEC Form 4, Restricted Stock Units, RSU, Stock Compensation, Director Ownership, Insider Transaction, Equity Compensation, TCG Capital Management