Le Pendeven Yves 4

What Happened

• Yves Le Pendeven, Chief Financial Officer of Funko, had restricted stock units (RSUs) vest/convert into shares and then sold a portion to cover taxes. He acquired (vested) 2,734 shares on 2026-03-06 and 896 shares on 2026-03-08 (conversion/exercise of RSUs at $0). On 2026-03-09 he sold 896 shares for a weighted average of $4.33 (≈ $3,878) and 296 shares for a weighted average of $4.38 (≈ $1,297), totaling about $5,175. The exercise/settlement entries are RSU-related (no cash paid).

Key Details

• Transaction dates: RSU settlement/exercise on 2026-03-06 (2,734 shares) and 2026-03-08 (896 shares); open-market sales on 2026-03-09 (896 and 296 shares).
• Sale prices: 896 shares sold at a weighted avg $4.33 (trades ranged $4.305–$4.405); 296 shares sold at a weighted avg $4.38 (trades ranged $4.345–$4.45). Total proceeds ≈ $5,175.
• Shares owned after transaction: not disclosed in the provided filing excerpt.
• Footnotes: RSUs represent a contingent right to one share or cash (F1, F5, F6). Sales were made to cover taxes upon vesting under a Rule 10b5-1 sell-to-cover instruction dated June 14, 2023 (F2). Weighted-average price ranges and willingness to provide per-price details are noted (F3, F4).
• Filing timeliness: Form filed 2026-03-10 reporting transactions dated 3/6–3/9; the filing shows no indication of being late.

Context

• These transactions are routine RSU vesting and sell-to-cover tax sales rather than a cash purchase. The RSU conversions were recorded as derivative exercises (code M) with $0 acquisition cost because RSUs convert without an out-of-pocket option price. Sales to cover taxes are a common administrative step and do not necessarily indicate a change in the insider’s view of the company.