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

Rhea-AI Filing Summary

On 06/19/2025 AlTi Global, Inc. (ALTI) granted 30,732.266 restricted stock units (RSUs) to director Norma Corio, as disclosed in a Form 4 filed on 06/23/2025. Each RSU converts into one share of Class A common stock when vested and was issued at $0 exercise price, indicating a standard equity-based compensation award rather than an open-market purchase. The RSUs vest in full on the earlier of the business day immediately preceding the company’s 2026 annual general meeting or June 30, 2026, at which point the director will receive an equivalent number of ALTI shares. Following the grant, Corio’s beneficial ownership in these derivative securities stands at 30,732.266 units, held directly. No other insider transactions or sales were reported in this filing.

The award modestly increases potential share count but is routine board compensation designed to align director incentives with long-term shareholder value.

Positive

• Equity compensation aligns director incentives with shareholder value creation without immediate cash outlay

Negative

• Issuance adds incremental shares, introducing minor dilution if cumulative awards grow

Insights

Securities Analyst

TL;DR: Routine RSU grant to director; negligible dilution, neutral fundamental impact.

The Form 4 reveals a 30.7k RSU grant—worth roughly low-single-digit millions depending on ALTI’s share price—issued at no cost to the recipient. Such awards are common for governance alignment and do not reflect insider sentiment (no cash committed). Dilution impact is immaterial given ALTI’s share count, so the filing should not meaningfully affect valuation or trading dynamics. I view the disclosure as neutral and informational only.

Corporate Governance Expert

TL;DR: Equity-based pay strengthens alignment but requires monitoring cumulative dilution.

Granting RSUs that vest after roughly one year ties director compensation to market performance, aligning fiduciary interests with shareholders. The single-tranche vesting and absence of performance hurdles are typical for outside directors but could be enhanced with longer vesting or performance metrics. While today’s share count impact is marginal, boards should track aggregate equity awards to maintain dilution within best-practice limits (≤5% of outstanding shares).

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^*

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)
06/26/2025

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	06/26/2025		A		6,805	A	$0	57,368(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	06/30/2025
	** 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

How many shares did AlTi Global (ALTI) grant to director Norma Corio?

The Form 4 reports a grant of 30,732.266 restricted stock units.

When will the granted RSUs vest?

The RSUs vest in full on the earlier of the business day before the 2026 AGM or June 30, 2026.

Was any cash paid for the RSUs?

No. The RSUs were issued at $0 exercise price, i.e., no cash payment by the director.

Does the filing indicate insider buying or selling of ALTI shares?

No open-market purchases or sales were disclosed; the filing only reports an equity award.

What is the ownership form of the awarded securities?

The RSUs are held directly by the director according to the filing.