Funko director converts 17,419 RSUs to shares
Funko, Inc. director Mike Kerns exercised previously granted restricted stock units into common shares as part of his board compensation.
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Form Type
4
Rhea-AI Filing Summary
Funko, Inc. director Mike Kerns exercised previously granted restricted stock units into common shares as part of his board compensation. On June 12, 2026, 17,419 RSUs converted into an equal number of Class A Common Stock shares at a stated price of $0.00 per share. Following this settlement, Kerns is shown holding 30,500 shares of Class A Common Stock directly. The award was granted for his board service and is held for the benefit of TCG Capital Management, LP, with Kerns reporting beneficial ownership only to the extent of his pecuniary interest.
Insider Trade Summary
17,419 shares exercised/converted
Exercise
2 txns
Insider
Kerns Mike
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 17,419 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 17,419 | $0.00 | $0.00 |
Holdings After Transaction:
Restricted Stock Units — 0 contracts (Direct);
Class A Common Stock — 30,500 shares (Direct)
Footnotes (2)
- 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 included on this report were received on June 12, 2025, vested on June 12, 2026 and were settled in shares of Class A Common Stock on June 15, 2026.
- F2. The securities included in this report were granted to the reporting person as compensation for his service on the Issuer's board of directors. Such securities 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.
Key Figures
RSUs converted: 17,419 shares
Post-transaction holdings: 30,500 shares
Exercise price per RSU: $0.00 per share
+4 more
7 metrics
RSUs converted
17,419 shares
Restricted Stock Units converted into Class A Common Stock on June 12, 2026
Post-transaction holdings
30,500 shares
Class A Common Stock held directly by Mike Kerns after transaction
Exercise price per RSU
$0.00 per share
Stated transaction price for 17,419 Class A Common Stock shares
Exercise events
1 exercise, 17,419 shares
Derivative exercise summary from transaction data
RSU grant date
June 12, 2025
Date RSUs were received as board compensation
RSU vesting date
June 12, 2026
Date RSUs vested prior to share settlement
Share settlement date
June 15, 2026
Date RSUs were settled in Class A Common Stock
Key Terms
Restricted Stock Units, pecuniary interest, Stockholders Agreement, Section 16, +1 more
5 terms
Restricted Stock Units financial
"The RSUs included on this report were received on June 12, 2025, vested on June 12, 2026 and were settled in shares of Class A Common Stock on June 15, 2026."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
pecuniary interest financial
"The reporting person disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein..."
Stockholders Agreement financial
"Pursuant to a Stockholders Agreement with the Issuer, TCG and its affiliates have the right to nominate up to two directors..."
Section 16 regulatory
"...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."
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
Class A Common Stock financial
"Each restricted stock unit ("RSU") represents a contingent right to receive one share of Class A Common Stock..."
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Funko (FNKO) director Mike Kerns report in this Form 4?
Mike Kerns reported an exercise of restricted stock units into Funko Class A shares. On June 12, 2026, 17,419 RSUs converted into 17,419 shares as compensation for his board service, increasing his direct holdings to 30,500 shares of Class A Common Stock.
What happened to the 17,419 Funko (FNKO) restricted stock units?
The 17,419 restricted stock units were converted into Funko Class A Common Stock. The RSUs, received on June 12, 2025, vested on June 12, 2026 and were settled on June 15, 2026, resulting in 17,419 new shares at a stated price of $0.00 per share.
Why were these Funko (FNKO) securities granted to Mike Kerns?
The securities were granted as compensation for Mike Kerns’ board service at Funko. The filing notes they were awarded for his role on the issuer’s board and are held for the benefit of TCG Capital Management, LP, tied to its director nomination rights.
AI-generated analysis. How Rhea-AI works. Not financial advice.
