Kartoon Studios (TOON) awards 750,000 RSUs to COO, GC & Secretary

Rhea-AI Filing Summary

Kartoon Studios, Inc. (TOON) reported an equity award for a senior executive. The company’s COO, General Counsel and Secretary, Michael Jaffa, was granted 750,000 restricted stock units (RSUs) on November 24, 2025. Each RSU represents a contingent right to receive one share of Kartoon Studios common stock.

The RSUs vest in three equal installments of 250,000 shares each, scheduled on November 14, 2026, November 14, 2027, and November 14, 2028, subject to his continued employment. Vested shares will be delivered in equal quarterly installments after each vesting date. Following this grant, Jaffa is shown as directly holding 57,001 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

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^*

Jaffa Michael

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	COO, GC & Secretary

3. Date of Earliest Transaction (Month/Day/Year)
11/24/2025

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, par value $0.001 per share								57,001	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
Restricted Stock Units	(1)	11/24/2025		A		750,000		(2)	(2)	Common Stock, par value $0.001 per share	750,000	$0	750,000	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of TOON common stock.

2. On November 24, 2025, the Reporting Person was granted 750,000 restricted stock units, vesting as follows: 250,000 shares on November 14, 2026, 250,000 shares on November 14, 2027, and 250,000 shares on November 14, 2028, subject to the Reporting Person's continued employment. Vested shares will be delivered to the Reporting Person in equal installments in each calendar quarter following the vesting date.

Remarks:

	/s/ Michael Jaffa	12/03/2025
	** 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 insider transaction did Kartoon Studios (TOON) report for Michael Jaffa?

Kartoon Studios reported that its COO, General Counsel and Secretary, Michael Jaffa, received a grant of 750,000 restricted stock units (RSUs) on November 24, 2025. Each RSU is a contingent right to receive one share of Kartoon Studios common stock.

How do the 750,000 RSUs granted to Kartoon Studios (TOON) executive vest?

The 750,000 RSUs vest in three equal tranches of 250,000 shares each on November 14, 2026, November 14, 2027, and November 14, 2028, and are subject to the executive’s continued employment.

When will the vested Kartoon Studios (TOON) RSU shares be delivered to the executive?

For this award, Kartoon Studios states that vested shares will be delivered to the reporting person in equal installments in each calendar quarter following the applicable vesting date.

What is Michael Jaffa’s reported direct ownership in Kartoon Studios (TOON) common stock?

After the reported transactions, the filing shows that 57,001 shares of Kartoon Studios common stock are directly owned by Michael Jaffa.

What position does the reporting person hold at Kartoon Studios (TOON)?

The reporting person, Michael Jaffa, is identified as an officer of Kartoon Studios with the titles COO, General Counsel and Secretary.

Does the Kartoon Studios (TOON) Form 4 involve derivative securities?

Yes. The Form 4 reports restricted stock units as derivative securities. These RSUs relate to 750,000 shares of Kartoon Studios common stock with an exercise price of $0, reflecting their nature as stock-based awards rather than options purchased for cash.