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

Rhea-AI Filing Summary

Anthony D. Thomopoulos, a director of Kartoon Studios, Inc. (TOON), reported acquiring 6,097 shares of the issuer's common stock on 09/18/2025 at a reported price of $0. After the reported transaction, Mr. Thomopoulos beneficially owned 122,713 shares. The filing is a Form 4 disclosure of a non-derivative acquisition by an insider and includes a remark noting the company completed a 10-for-1 reverse stock split effective February 6, 2023, which converted every 10 shares into 1 share.

Positive

• Director acquisition recorded, increasing insider ownership to 122,713 shares
• Form 4 filed and signed, demonstrating compliance with Section 16 reporting requirements

Negative

• None.

Insights

Financial Analyst

Insider purchased shares; small ownership increase but confirms engagement.

The Form 4 shows a non-derivative acquisition of 6,097 common shares by Director Anthony D. Thomopoulos on 09/18/2025 at a reported price of $0, leaving his beneficial ownership at 122,713 shares. The transaction is recorded as an acquisition with no cash price disclosed in the form. The filing reiterates the 2023 10-for-1 reverse split as explanatory context. For investors, this is a routine insider disclosure documenting ownership change rather than an earnings or material corporate event.

Corporate Governance Expert

Routine insider disclosure; governance implication limited to ownership transparency.

The statement of changes in beneficial ownership is properly filed by a single reporting person and is signed. It documents a director-level acquisition and updates beneficial ownership to 122,713 shares. The Form 4 includes the issuer's earlier reverse split for clarity. This filing meets Section 16 reporting requirements and provides transparency on director holdings; it does not disclose any derivative instruments, dispositions, or unusual compensation terms in this submission.

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^*

THOMOPOULOS ANTHONY D

(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	122,713(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/ Anthony D. Thomopoulos	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 transaction did Anthony D. Thomopoulos report for TOON?

He reported acquiring 6,097 shares of Kartoon Studios common stock on 09/18/2025, recorded on a Form 4.

How many TOON shares does Anthony D. Thomopoulos beneficially own after the transaction?

122,713 shares beneficially owned following the reported acquisition.

What price was reported for the acquired TOON shares?

The Form 4 reports a price of $0 for the acquisition recorded on 09/18/2025.

Does the filing reference any corporate actions affecting share counts?

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

Who signed the Form 4 for this TOON filing?

Anthony D. Thomopoulos signed the Form 4 on 09/18/2025.