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

Rhea-AI Filing Summary

Margaret Loesch, a director of Kartoon Studios, Inc. (TOON), reported an acquisition of 6,079 shares of the issuer's common stock on 09/18/2025. The Form 4 shows the transaction coded as an acquisition (A) and lists the price as $0. After the reported transaction, Ms. Loesch beneficially owns 63,447 shares. The filing also reiterates that the company completed a 10-for-1 reverse stock split effective February 6, 2023, which converted every 10 shares into 1 share.

Positive

• Director increased ownership by 6,079 shares, indicating greater insider stake
• Clear post-transaction ownership disclosed: 63,447 shares beneficially owned following the transaction

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director increased her stake by 6,079 shares, bringing total beneficial ownership to 63,447 shares.

As a governance matter, a director filing an acquisition signals continued insider alignment with the company. The Form 4 lists transaction code "A," confirming this was an acquisition, and the reported post-transaction ownership (63,447 shares) provides a clear measure of her stake. The filing also includes the 2023 reverse split disclosure, which is relevant for reconciling historical share counts.

Securities Analyst

TL;DR: Insider acquisition reported; price shown as $0 on Form 4 requires review of transaction type and potential non-cash issuance details.

From an investor-impact perspective, the acquisition increases insider ownership but the Form 4 reports a price of $0, which may reflect a non-cash issuance or reporting convention; the form itself does not provide further detail. The disclosed post-transaction holding (63,447 shares) is the primary quantifiable takeaway for ownership concentration assessment.

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
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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^*

LOESCH MARGARET

(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		6,079	A	$0	63,447(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/ Margaret Loesch	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 Margaret Loesch report on the Form 4 for TOON?

The Form 4 reports that Margaret Loesch acquired 6,079 shares on 09/18/2025, with 63,447 shares beneficially owned after the transaction.

What transaction code and price are shown on the Form 4 for TOON?

The transaction is coded as "A" (acquisition) and the form lists the price as $0.

Does the filing show any adjustments for prior stock splits?

Yes; the filing states the issuer effected a 10-for-1 reverse stock split effective February 6, 2023, which converted every 10 shares into 1 share.

Is Margaret Loesch a director or officer of Kartoon Studios (TOON)?

The Form 4 identifies Margaret Loesch as a Director of Kartoon Studios, Inc.