Form 4: Funko Director Sells Shares, Corrects Holdings

Funko Director Michael C. Lunsford sold 5,208 shares of Class A Common Stock for a weighted average price of $26.03 per share and corrected previously reported beneficial ownership.

Summary

• Michael C. Lunsford, a Director of Funko, Inc. (FNKO), reported a sale of Class A Common Stock.
• The transaction involved the disposition of 5,208 shares on May 28, 2021.
• The shares were sold at a weighted average price of $26.03 per share, with individual transaction prices ranging from $25.94 to $26.19.
• Following this transaction, Michael C. Lunsford beneficially owns 14,036 shares of Class A Common Stock.
• The reported beneficial ownership also includes a correction to remove 6,300 shares that were inadvertently included in previous Form 4 filings, starting from a Form 4 filed on June 7, 2024.

Sentiment

Score: 5

Explanation: The filing reports a routine insider stock sale by a director and includes a correction for previously overstated beneficial ownership, which is an administrative update rather than a performance indicator.

Negatives

• The filing indicates a past administrative error where 6,300 shares were inadvertently included in previous beneficial ownership reports, requiring a correction.

Stakeholder Impact

• Shareholders may note a director's sale of a portion of their holdings, which is a routine disclosure for insider transactions.

Key Dates

Recommendation

The filing reports a routine insider sale by a director and a correction to previously reported holdings. This transaction alone is not significant enough to alter the fundamental investment thesis for Funko, Inc., thus a 'hold' recommendation is maintained.

Keywords

Funko, FNKO, Insider Trading, Stock Sale, Director, Michael Lunsford, SEC Form 4