[Form 4] Kartoon Studios, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Kartoon Studios director Henry Sicignano III reported a Form 4 disclosing a non-derivative purchase of 6,097 shares of Kartoon Studios, Inc. (ticker TOON) on 09/18/2025 at a reported price of $0. After the reported acquisition, Mr. Sicignano beneficially owns 62,116 shares. The filing is signed by the reporting person on 09/18/2025. The document also notes a prior 10-for-1 reverse stock split effected on February 6, 2023, which converted every ten shares into one share. The Form 4 is filed by one reporting person and indicates the reporting person serves as a director.

Positive

• Director reported an increase in beneficial ownership to 62,116 shares
• Form 4 filed and signed on 09/18/2025, indicating timely insider disclosure

Negative

• None.

Insights

Financial Analyst

TL;DR: Director acquired 6,097 shares, raising beneficial ownership to 62,116 shares; transaction appears routine and non-cash as reported.

The Form 4 documents a director-level acquisition on 09/18/2025 of 6,097 common shares at a reported price of $0, increasing total beneficial ownership to 62,116 shares. The $0 price suggests a non-cash award, grant, or reporting convention rather than an open-market purchase; the filing does not state the transaction type beyond 'A' (acquisition). The filing includes disclosure of a 10-for-1 reverse split in 2023, which affects historical share counts. This filing alone provides limited information on intent or material impact to capitalization.

Corporate Governance Expert

TL;DR: Insider disclosure is timely and signed; no governance red flags are evident from this Form 4 alone.

The reporting person is identified as a director and filed the Form 4 for a single reporting person on 09/18/2025, with a manual signature present. The disclosure meets Section 16 reporting format by listing post-transaction beneficial ownership and noting the 2023 reverse split. The filing does not indicate any related-party transfers, option exercises, or derivative positions. With no additional context, the filing appears compliant and routine from a governance perspective.

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

SICIGNANO HENRY III

(Last) (First) (Middle)

C/O KARTOON STUDIOS, INC.

190 N. CANON DRIVE, 4TH FLOOR

(Street)

BEVERLY HILLS CA 90210

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
09/18/2025

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
Common Stock	09/18/2025		A		6,097	A	$0	62,116(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/ Henry Sicignano III	09/18/2025
	** 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.

FAQ

What did Henry Sicignano III report on Form 4 for TOON?

He reported acquisition of 6,097 shares on 09/18/2025, bringing his beneficial ownership to 62,116 shares.

What price was reported for the TOON shares acquired on 09/18/2025?

The Form 4 lists a reported price of $0 for the acquisition.

What is Henry Sicignano III's relationship to Kartoon Studios (TOON)?

The filing identifies him as a Director of Kartoon Studios, Inc.

Does the Form 4 note any reverse stock split for TOON?

Yes. It discloses a 10-for-1 reverse stock split effective February 6, 2023, converting every ten shares into one.

Was the Form 4 filed by more than one reporting person?

No. The form indicates it was filed by one reporting person.