Form 4: Funko's Chief Legal Officer, Tracy D. Daw, Reports Stock Transactions
SEC Form 4 Filing
Tracy D. Daw, Chief Legal Officer of Funko, Inc., reports the vesting of restricted stock units and subsequent sale of Class A Common Stock under a pre-arranged 10b5-1 trading plan.
Summary
- On April 29, 2024, Tracy D. Daw, Funko's Chief Legal Officer, acquired 4,521 shares of Class A Common Stock upon the vesting of restricted stock units (RSUs) at a price of $0.
- On April 30, 2024, Daw sold 3,755 shares of Class A Common Stock at a weighted average price of $6.0619, with individual transactions ranging from $6.00 to $6.10.
- These sales were executed under a 10b5-1 trading plan adopted on September 13, 2023.
- Following these transactions, Daw directly owns 62,425 shares of Class A Common Stock.
- The reported transactions do not reflect any common units beneficially owned by the Reporting Person.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions by a company executive. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about insider trading activity.
Industry Context
Form 4 filings are a routine part of insider trading activity and provide transparency into the transactions of company executives. The use of 10b5-1 trading plans is a common practice to avoid accusations of insider trading, as these plans are established in advance.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership by a company executive.
- The use of a 10b5-1 trading plan ensures transparency and compliance with securities regulations.
Key Dates
| Date | Description |
|---|---|
| 04/29/2020 | Reporting Person was granted 18,081 restricted stock units, vesting in four equal annual installments on each of the first through fourth anniversaries of April 29, 2020 |
| 09/13/2023 | Reporting Person adopted a 10b5-1 trading plan |
| 04/29/2024 | Acquisition of 4,521 shares of Class A Common Stock due to RSU vesting |
| 04/30/2024 | Sale of 3,755 shares of Class A Common Stock at an average price of $6.0619 |
| 05/01/2024 | Date of Form 4 signature |
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