Shah Husnal 4

What Happened

• Shah Husnal, Chief Product Officer of Funko, had restricted stock units (RSUs) convert into 3,094 shares (2,344 on 2026-03-06 and 750 on 2026-03-08). A portion of those shares — 1,347 total — were sold in open-market transactions on 2026-03-09 to cover taxes, producing aggregate proceeds of $5,855. The conversions were reported at $0.00 per share (typical for RSU vesting).

Key Details

• Transaction dates and prices:
  • 2026-03-06: 2,344 RSUs converted to 2,344 shares @ $0.00 (acquired).
  • 2026-03-08: 750 RSUs converted to 750 shares @ $0.00 (acquired).
  • 2026-03-09: Open-market sale of 1,019 shares at a weighted avg $4.32 (range $4.30–$4.37) — proceeds $4,399.
  • 2026-03-09: Open-market sale of 328 shares at $4.44 — proceeds $1,456.
  • Total sold: 1,347 shares for $5,855.
• Shares owned after transaction: not specified in the filing. Of the 3,094 newly issued shares from vesting, 1,347 were sold; 1,747 of those vested shares were not sold in these transactions.
• Notable footnotes:
  • F1: Each RSU converts to one share (or cash at issuer election).
  • F2: The sales were "sell-to-cover" transactions executed under a Rule 10b5-1 sell-to-cover instruction dated June 8, 2023.
  • F3–F5: Footnotes explain weighted-average pricing and the original RSU grants (9,375 RSUs granted 3/6/2023; 2,997 RSUs granted 3/8/2022) and their annual vesting schedules.
• Filing timeliness: Form 4 was filed 2026-03-10 for transactions through 2026-03-09; this appears to be timely.

Context

• These were RSU vesting and subsequent sell-to-cover sales—not open-market purchases. Sell-to-cover sales are routine tax-withholding actions and do not necessarily indicate the insider is reducing a position for investment reasons.
• When RSUs vest, they’re typically reported as acquired at $0 (the income is recognized separately). Because shares were sold immediately to cover taxes under a pre-existing 10b5-1 instruction, this is operational rather than a discretionary sale signal.