Kerns Mike 4

What Happened

• Mike Kerns, a director of Funko, reported the conversion/exercise of a derivative (code M) that resulted in 17,419 shares being acquired at $0.00. The filing also shows a corresponding derivative disposition of 17,419 shares at $0.00 — this reflects conversion/settlement of RSUs into Class A common stock, not an open‑market sale for proceeds.

Key Details

• Transaction date (conversion/vesting): June 12, 2026; RSUs were settled in shares on June 15, 2026 per the filing footnote.
• Report filed: June 15, 2026 (appears timely).
• Price: $0.00 per share; total cash value reported $0.
• Shares owned after transaction: not specified in the Form 4 provided.
• Footnote F1: RSUs were granted June 12, 2025, vested June 12, 2026, and were settled in shares on June 15, 2026.
• Footnote F2: The securities are held for the benefit of TCG Capital Management, LP; Mr. Kerns disclaims beneficial ownership except to the extent of any pecuniary interest.

Context

• This was a compensation-related vesting and settlement of restricted stock units (RSUs). The reporting shows conversion of a derivative into shares rather than a sale for cash, so it should be treated as routine equity compensation rather than an insider cashing out.