JAKK Form 4: Jonathan Liebman Receives 4,827 Restricted Stock Units
Rhea-AI Filing Summary
Jonathan R. Liebman, a director of JAKKS Pacific, Inc. (JAKK), was granted 4,827 restricted stock units (RSUs) on 09/09/2025 under the company’s 2002 Stock Award and Incentive Plan. The RSUs vest in one installment on the first anniversary of the grant provided the reporting person remains a board member. The RSUs carry no voting rights and are non-transferable, saleable, pledgable or otherwise encumbered prior to vesting. The filing reports the grant valued using the closing NASDAQ price on the trading day before the grant at $17.61 per share, equating to 4,827 underlying common shares that will be issued upon vesting. Some shares may also be subject to the company’s minimum stock ownership restrictions.
Positive
- Director alignment: Grant of 4,827 RSUs aligns the director’s interests with shareholders through equity-based compensation.
- Clear vesting condition: RSUs vest in one installment on the first anniversary, providing a retention incentive tied to continued board service.
- Transparent valuation: Grant value referenced to the prior trading day close of $17.61 per share.
Negative
- No voting rights prior to vesting: RSUs carry no voting power until converted to shares, limiting immediate governance alignment.
- Transfer restrictions: RSUs and/or resulting shares are non-transferable prior to vesting and may be further limited by minimum ownership rules.
Insights
TL;DR: Board compensation awarded as RSUs aligns director incentives with shareholder value but vests only with continued board service.
The award of 4,827 RSUs to a director is a routine governance practice to align long-term interests of directors and shareholders. The single-installment one-year vesting condition tied to board membership emphasizes retention of board service rather than immediate liquidity. The RSUs are non-voting and non-transferable until vesting, which is standard for restricted awards. Using the prior trading day's close ($17.61) provides a transparent valuation for the grant. Materiality is limited given the grant size relative to typical market-capitalized equity awards; impact on dilution or financial statements should be small and is not quantified in this filing.
TL;DR: This is a standard director equity grant; administrative disclosure fulfills Section 16 reporting requirements.
The Form 4 discloses a non-derivative issuance of 4,827 RSUs under the 2002 plan. Vesting on the first anniversary conditioned on board membership is common for retention-focused grants. The filing correctly reports the grant date, number of underlying shares, and the closing price used for valuation ($17.61). There is no exercise price because these are RSUs, and the filing indicates potential transfer restrictions tied to the company’s minimum ownership rules. No dispositions, loans, related-party issues, or accelerated vesting provisions are disclosed.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Unit ("RSU") | 4,827 | $17.61 | $85K |
Footnotes (1)
- Issued under Issuer's 2002 Stock award and Incentive Plan and is subject to the terms of Agreement for Award of Restricted Stock Units between Issuer and Reporting Person. In accordance with such Agreement, securities so issued will have no voting rights and may not be sold, mortgaged, pledged, transferred or otherwise encumbered prior to vesting. RSUs will vest in 1 installment on the first anniversary of the date of the grant. The Reporting Person must be a member of the Board of Directors for an RSU to vest. Represents the closing price of the Company's common stock for the trading day preceding the date of grant, as reported by NASDAQ. Certain of the shares may be restricted from transfer pursuant to the minimum stock ownership provisions adopted by Issuer's Board of Directors.
