Kerns Mike 4
4 · Funko, Inc. · Filed Jun 5, 2026
Research Summary
AI-generated summary of this filing
Funko (FNKO) Director Mike Kerns Receives RSUs and Options
What Happened
Mike Kerns, a Funko (FNKO) director, received two compensation awards on June 3, 2026: 14,368 restricted stock units (RSUs) and 21,445 stock options. Both items were reported as derivative awards at $0.00 per share (standard for grants) and will vest on June 3, 2027, subject to his continued service.
Key Details
- Transaction date: June 3, 2026; Form 4 filed June 5, 2026 (timely filing).
- Reported amounts: 14,368 RSUs and 21,445 options; reported acquisition price = $0.00 (award/derivative).
- Vesting: Both the RSUs and the options vest/become exercisable on June 3, 2027, contingent on continued service.
- Shares owned after transaction: Not disclosed in the provided report.
- Footnotes: RSUs convert to one Class A share (or cash at issuer election). The grants are held for the benefit of TCG Capital Management, LP; Kerns serves on Funko’s board pursuant to a nomination right under a stockholders agreement and disclaims beneficial ownership except for any pecuniary interest.
Context
These are compensation grants (awards), not purchases or sales—so they increase potential future share exposure if vested and exercised. The options were granted but not exercised; they become exercisable only if Kerns remains with the company through the vesting date. Holdings are tied to TCG’s interests and Kerns disclaims beneficial ownership beyond his economic interest.
Insider Transaction Report
- Award
Restricted Stock Units
[F1][F2]2026-06-03+14,368→ 14,368 total→ Class A Common Stock (14,368 underlying) - Award
Option to Purchase Class A Common Stock
[F2][F3]2026-06-03+21,445→ 21,445 totalExercise: $5.22Exp: 2036-06-03→ Class A Common Stock (21,445 underlying)
Footnotes (3)
- [F1]Each restricted stock unit ("RSU") represents a contingent right to receive one share of Class A Common Stock or, at the election of the Issuer, an equivalent cash payment. The RSUs vest on June 3, 2027, subject to the reporting person's continued service with the Issuer through the vesting date.
- [F2]The reporting person was granted 14,368 restricted stock units and 21,445 options to purchase Class A Common Stock as compensation for his service on the Issuer's board of directors and 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. 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.
- [F3]The options will vest and become exercisable on June 3, 2027, subject to the reporting person's continued service with the Issuer through the vesting date.