Kartoon Studios (TOON) director receives grant of 8,570 common shares

Rhea-AI Filing Summary

Davis Gray reported acquisition or exercise transactions in this Form 4 filing.

Kartoon Studios, Inc. director Davis Gray reported receiving a grant of 8,570 shares of Common Stock as an equity award. The shares were recorded at a price of $0.00 per share, indicating a compensation-related grant rather than a market purchase. Following this award, Gray directly holds 92,339 shares of Kartoon Studios Common Stock.

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

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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^*

Davis Gray

(Last) (First) (Middle)

C/O KARTOON STUDIOS, INC.

190 N. CANON DRIVE, 4TH FLOOR

(Street)

BEVERLY HILLS CALIFORNIA 90210

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Kartoon Studios, Inc. [ TOON ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/19/2026

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

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

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

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
Common Stock	03/19/2026		A		8,570	A	$0	92,339(1)	D

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

Explanation of Responses:

1. On February 6, 2023, the issuer effected a 10-for-1 reverse stock split of the issued and outstanding shares of its common stock (the "2023 Reverse Stock Split"). Upon effectiveness of the 2023 Reverse Stock Split, every 10 shares of voting common stock was automatically converted into 1 share of common stock.

Remarks:

	/s/ Gray Davis	03/19/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Kartoon Studios (TOON) director Davis Gray report?

Director Davis Gray reported receiving a grant of 8,570 Kartoon Studios Common Stock shares. The award was recorded at $0.00 per share, indicating a compensation-related equity grant rather than an open-market purchase, and increased his directly held position in the company.

How many Kartoon Studios (TOON) shares does Davis Gray hold after this Form 4 filing?

After the reported equity grant, Davis Gray directly holds 92,339 shares of Kartoon Studios Common Stock. This figure reflects his position following the award of 8,570 shares disclosed in the Form 4 insider transaction filing.

Was the Kartoon Studios (TOON) insider transaction a market purchase or a grant?

The transaction was a grant of 8,570 Common Stock shares to director Davis Gray. The shares were reported at a price of $0.00 per share, which characterizes the event as a compensation-related grant or award, not an open-market stock purchase.

Does the Kartoon Studios (TOON) Form 4 show any insider share sales?

The Form 4 shows no insider share sales for this reporting person. It discloses only one transaction: an acquisition of 8,570 Common Stock shares by grant or award, which increased the director’s directly held ownership in Kartoon Studios.

What does transaction code "A" mean in the Kartoon Studios (TOON) Form 4?

Transaction code "A" in this Form 4 denotes a grant, award, or other acquisition of securities. For Kartoon Studios, it reflects the compensation-related grant of 8,570 Common Stock shares to director Davis Gray, rather than a voluntary market trade.