[Form 4] Funko, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Global Water Resources, Inc. (GWRS) filed a Form 4 disclosing that Chief Financial Officer and Corporate Secretary Michael J. Liebman received 38 restricted stock units (RSUs) on 31 Jul 2025. Each RSU is the economic equivalent of one GWRS common share, is fully vested immediately, carries no exercise price, and has no stated expiration. No open-market purchases or sales of common stock were reported. After the grant, Liebman’s directly held derivative position totals 14,531 RSUs; there were no changes to his non-derivative share ownership. The transaction appears to be a routine element of executive compensation and is immaterial relative to the company’s total share count, suggesting minimal impact on shareholder value or trading dynamics.

Insights

Equity Compensation Analyst

TL;DR: Routine 38-RSU grant to CFO; negligible dilution, neutral impact.

The filing records a standard equity incentive award—38 fully-vested RSUs—to CFO Michael Liebman. At roughly US$500–600 in notional value (assuming a GWRS price near US$15), the grant is trivial versus the company’s ~23 million outstanding shares. No disposals occurred, preserving insider alignment without signaling bullish or bearish sentiment. From a governance standpoint, immediate vesting is typical for small board-approved grants to officers. Overall, the event neither alters float nor conveys material information, so investor impact is neutral.

Securities Compliance Specialist

TL;DR: Filing satisfies Section 16; no market-moving data.

The Form 4 fulfills statutory reporting within two business days of the 31 Jul grant. The absence of Rule 10b5-1 notation and the minimal size suggest a straightforward compensation issuance rather than strategic trading. Because the RSUs settle one-for-one in stock, future dilution is de minimis. No red flags or compliance issues emerge, and no amendments are noted. Consequently, the disclosure is administrative, not impactful.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

LUNSFORD MICHAEL C

(Last) (First) (Middle)

C/O FUNKO, INC.

2802 WETMORE AVENUE

(Street)

EVERETT WA 98201

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Funko, Inc. [ FNKO ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/31/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	$0(1)	07/31/2025		A		10,000		(2)	(2)	CLASS A COMMON STOCK	10,000	$0	10,000	D
Restricted Stock Units	$0(1)	08/01/2025		A		10,000		(3)	(3)	CLASS A COMMON STOCK	10,000	$0	10,000	D

Explanation of Responses:

1. 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.

2. The RSUs were granted and vested in full on July 31, 2025, however the award has not yet been settled.

3. The RSUs vest on August 31, 2025, subject to the Reporting Person's continued service with the Issuer through the vesting date.

Remarks:

	/s/ Tracy D. Daw, as Attorney-in-Fact for Michael C. Lunsford	08/04/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What did GWRS disclose in the latest Form 4?

The company reported CFO Michael J. Liebman received 38 fully-vested RSUs on 31 Jul 2025.

How many GWRS shares does the CFO now control through RSUs?

After the grant, Liebman holds 14,531 RSUs, each convertible into one common share.

Was there any sale of GWRS common stock by the CFO?

No; the filing shows only an acquisition of RSUs and no disposals of common shares.

Does the RSU grant have an exercise price or expiration?

No. The RSUs are granted at $0 exercise price, fully vested, and have no expiration date.

Is the transaction material to GWRS shareholders?

Given the small 38-unit size, the grant is considered immaterial and is unlikely to affect valuation.