Form 4: Funko Officer Sells Shares After RSU Vesting

Funko's Chief International Officer, Andrew David Oddie, reported the vesting of restricted stock units and subsequent sales of Class A Common Stock to cover tax obligations.

Summary

• Andrew David Oddie, Funko's Chief International Officer, reported multiple transactions involving Class A Common Stock.
• On March 12, 2026, 9,767 shares of Class A Common Stock were acquired upon the vesting of Restricted Stock Units (RSUs) at a price of $0.
• On March 13, 2026, 4,844 shares of Class A Common Stock were disposed of at a weighted average price of $4.1292 per share, ranging from $4.11 to $4.20.
• On March 13, 2026, an additional 12,600 shares of Class A Common Stock were acquired upon the vesting of RSUs at a price of $0.
• On March 16, 2026, 6,250 shares of Class A Common Stock were disposed of at a weighted average price of $3.71 per share, ranging from $3.655 to $3.90.
• The sales were conducted to cover tax obligations arising from the RSU vesting, pursuant to a Rule 10b5-1 instruction letter established in June 2019.
• Following these transactions, Andrew David Oddie directly beneficially owns 69,313 shares of Class A Common Stock.
• Remaining derivative holdings include 29,302 Restricted Stock Units from a March 12, 2025 grant and 25,200 Restricted Stock Units from a March 13, 2024 grant.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. It represents routine compensation and tax management for an executive, not indicative of a change in company fundamentals or insider sentiment regarding the stock's future performance.

Positives

• The vesting of Restricted Stock Units indicates continued compensation for the Chief International Officer, reflecting ongoing employment and performance incentives.
• The transactions were executed under a pre-planned Rule 10b5-1 plan, demonstrating a structured approach to managing equity compensation and tax liabilities.

Negatives

• The sales of Class A Common Stock, totaling 11,094 shares, reduce the direct beneficial ownership of the Chief International Officer, although these sales were for tax purposes.

Future Outlook

The filing indicates future vesting events for the Chief International Officer's Restricted Stock Units. Specifically, 39,069 RSUs granted on March 12, 2025, will vest in four equal annual installments from March 12, 2026, and 50,400 RSUs granted on March 13, 2024, will vest in four equal annual installments from March 13, 2025, subject to continued employment.

Industry Context

StockSavvy.ai notes that insider transactions, particularly those involving RSU vesting and subsequent tax-related sales, are common occurrences in publicly traded companies. These transactions are typically pre-arranged under Rule 10b5-1 plans to avoid accusations of trading on material non-public information, reflecting routine compensation management rather than a change in corporate strategy or outlook.

Comparison to Industry Standards

• The use of a Rule 10b5-1 plan for tax-related sales is a standard practice among executives in publicly traded companies, aligning with best practices for managing equity compensation and complying with insider trading regulations.
• The vesting schedule of RSUs over multiple years is typical for executive compensation packages, designed to incentivize long-term retention and performance, comparable to similar arrangements at other companies in the consumer products or entertainment sectors.

Stakeholder Impact

• Shareholders: The transactions represent routine insider activity and are unlikely to have a significant direct impact on shareholder value or perception, given their pre-planned and tax-related nature.

Next Steps

• Remaining portions of the 39,069 RSUs granted on March 12, 2025, will continue to vest in three subsequent equal annual installments.
• Remaining portions of the 50,400 RSUs granted on March 13, 2024, will continue to vest in three subsequent equal annual installments.

Key Dates

Keywords

Funko, FNKO, Insider Transaction, Form 4, Restricted Stock Units, RSU Vesting, Stock Sale, Tax Obligation, Rule 10b5-1 Plan, Chief International Officer