Director Davis Gray receives stock grant at Kartoon Studios (NASDAQ: TOON)

Rhea-AI Filing Summary

Kartoon Studios director Davis Gray received a new stock grant. He was awarded 5,299 shares of Kartoon Studios, Inc. common stock as a grant or award at a stated price of $0.00 per share. After this award, he directly holds 97,638 shares of common stock.

A footnote explains that on February 6, 2023, Kartoon Studios implemented a 10-for-1 reverse stock split, in which every 10 shares of voting common stock were automatically converted into 1 share of common stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Davis Gray

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	5,299	$0.00	--

Holdings After Transaction: Common Stock — 97,638 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Shares granted: 5,299 shares Grant price: $0.00 per share Shares held after grant: 97,638 shares +1 more

4 metrics

Shares granted 5,299 shares Common Stock grant reported on Form 4

Grant price $0.00 per share Stated transaction price for awarded shares

Shares held after grant 97,638 shares Total direct common stock holdings after transaction

Reverse split ratio 10-for-1 Reverse stock split effective February 6, 2023

Key Terms

Grant, award, or other acquisition, reverse stock split, Common Stock, transaction code A

4 terms

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

reverse stock split financial

"the issuer effected a 10-for-1 reverse stock split of the issued and outstanding shares"

A reverse stock split reduces a company's number of outstanding shares while raising the price per share proportionally, so the total value of each investor's holding is unchanged; a 1-for-10 split turns 100 shares worth $1 each into 10 shares worth $10 each. Companies often do this to regain compliance with an exchange's minimum price rule or to attract investors who avoid very low-priced stocks.

Common Stock financial

"security_title: Common Stock"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

transaction code A financial

"transaction_code: "A""

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/02/2026 - 01:40 PM Accepted by SEC EDGAR 07/02/2026 - 01:40 PM Learn about SEC filing dates

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^*

Davis Gray

(Last) (First) (Middle)

C/O KARTOON STUDIOS, INC.

190 N. CANON DRIVE, 4TH FLOOR

(Street)

BEVERLY HILLS CALIFORNIA 90210

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	06/30/2026		A		5,299	A	$0	97,638(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/ Gray Davis	07/02/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Kartoon Studios (TOON) director Davis Gray report?

Director Davis Gray reported receiving 5,299 shares of Kartoon Studios common stock as a grant or award. The shares were issued at a stated price of $0.00 per share, reflecting a compensation-related equity award rather than an open-market purchase.

How many Kartoon Studios (TOON) shares does Davis Gray hold after this Form 4?

After the reported grant, Davis Gray directly holds 97,638 shares of Kartoon Studios common stock. This total includes the newly awarded 5,299 shares and represents his direct ownership position as shown in the Form 4 filing for this transaction.

Was the Kartoon Studios (TOON) Form 4 transaction a market buy or sell?

The Form 4 reports a grant or award acquisition, not a market buy or sell. The transaction code is “A,” indicating a grant, award, or other acquisition of 5,299 shares at a price of $0.00 per share as part of compensation.

What does the 10-for-1 reverse stock split mean for Kartoon Studios (TOON) shares?

Kartoon Studios effected a 10-for-1 reverse stock split on February 6, 2023. Every 10 shares of voting common stock were automatically converted into 1 share of common stock, reducing the number of shares outstanding while adjusting the per-share price proportionally.

Does the Kartoon Studios (TOON) Form 4 indicate any derivative securities for Davis Gray?

The Form 4 derivative summary is empty, indicating no derivative transactions or remaining derivative positions are reported in this filing. The disclosed activity involves only non-derivative common stock granted as an equity award to director Davis Gray.