Funko, Inc. Reports Board Changes and Officer Compensation
Ticker: FNKO · Form: 8-K · Filed: Sep 12, 2024 · CIK: 1704711
| Field | Detail |
|---|---|
| Company | Funko, INC. (FNKO) |
| Form Type | 8-K |
| Filed Date | Sep 12, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $13,850 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, officer-appointment, compensation
Related Tickers: FNKO
TL;DR
Funko board shakeup and new exec pay details filed.
AI Summary
Funko, Inc. announced on September 9, 2024, a change in its board of directors, with the election of new directors and the appointment of certain officers. The company also disclosed compensatory arrangements for its officers. This filing is a current report under the Securities Exchange Act of 1934.
Why It Matters
Changes in a company's board of directors and executive compensation can signal shifts in strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Board and officer changes, along with compensation details, can introduce uncertainty about future leadership and strategic direction.
Key Players & Entities
- Funko, Inc. (company) — Registrant
- Delaware (jurisdiction) — State of Incorporation
- 001-38274 (company_id) — Commission File Number
- 2802 Wetmore Avenue (address) — Principal Executive Offices
- Everett (location) — City of Principal Executive Offices
- Washington (location) — State of Principal Executive Offices
- 98201 (zip_code) — Zip Code of Principal Executive Offices
- 425-783-3616 (phone_number) — Registrant's telephone number
- September 9, 2024 (date) — Date of earliest event reported
FAQ
What specific changes were made to Funko, Inc.'s board of directors?
The filing indicates the election of directors and the appointment of certain officers, but does not specify the names of the individuals or the exact nature of the changes in this summary section.
What is the purpose of this Form 8-K filing for Funko, Inc.?
This Form 8-K is a current report filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, reporting significant events such as changes in directors, officers, and compensatory arrangements.
When was the earliest event reported in this filing?
The earliest event reported in this filing occurred on September 9, 2024.
Where are Funko, Inc.'s principal executive offices located?
Funko, Inc.'s principal executive offices are located at 2802 Wetmore Avenue, Everett, Washington 98201.
What is Funko, Inc.'s standard industrial classification?
Funko, Inc.'s standard industrial classification is GAMES, TOYS & CHILDREN'S VEHICLES (NO DOLLS & BICYCLES) [3944].
Filing Stats: 664 words · 3 min read · ~2 pages · Grade level 11.2 · Accepted 2024-09-12 16:15:59
Key Financial Figures
- $0.0001 — which registered Class A Common Stock, $0.0001 par value per share FNKO The Nasdaq
- $13,850 — Mr. Oddie with a relocation stipend of $13,850 per month and reimbursement of certain
Filing Documents
- d690164d8k.htm (8-K) — 24KB
- d690164dex101.htm (EX-10.1) — 40KB
- 0001193125-24-217988.txt ( ) — 188KB
- fnko-20240909.xsd (EX-101.SCH) — 3KB
- fnko-20240909_lab.xml (EX-101.LAB) — 17KB
- fnko-20240909_pre.xml (EX-101.PRE) — 11KB
- d690164d8k_htm.xml (XML) — 3KB
From the Filing
8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 September 9, 2024 Date of Report (Date of earliest event reported) FUNKO, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 001-38274 35-2593276 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.) 2802 Wetmore Avenue Everett , Washington 98201 (Address of Principal Executive Offices) (Zip Code) (425) 783-3616 (Registrant's telephone number, including area code) (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Class A Common Stock, $0.0001 par value per share FNKO The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On September 9, 2024, Funko, Inc. (the "Company") and the Company's subsidiary, Funko UK, Ltd ("Funko UK"), entered into a letter agreement (the "Letter") with Andrew Oddie, the Company's Chief Commercial Officer, amending certain provisions of Mr. Oddie's Service Agreement with Funko UK, dated May 12, 2022 (as amended from time to time, the "Employment Agreement") in connection with his temporary relocation to the Greater Los Angeles area as his primary work location and taking on certain incremental sales and operational responsibilities. Pursuant to the Letter, the Company and Funko UK have agreed to provide Mr. Oddie with a relocation stipend of $13,850 per month and reimbursement of certain other relocation-related expenses incurred by Mr. Oddie during the Relocation Period (as defined in the Letter). In addition, in the event Mr. Oddie's employment is terminated by his employer without "cause" or by Mr. Oddie for "good reason" (each as defined in the Employment Agreement) during the Relocation Period then, in addition to any payments or benefits due to Mr. Oddie under the Employment Agreement, fifty percent of his unvested outstanding restricted stock units granted to him by the Company on May 12, 2022 will accelerate and vest as of the date of such termination, subject to his execution and delivery of a release of claims. The foregoing description of the Letter does not purport to be complete and is qualified in its entirety by reference to the full text of the Letter, which is attached hereto as Exhibit 10.1 and incorporated herein by reference. Item9.01. Financial Statements and Exhibits. (d) Exhibits: Exhibit No. Description 10.1 Letter Agreement between Funko, Inc., Funko UK, Ltd and Andrew Oddie, dated September 9, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: September 12, 2024 FUNKO, INC. By: /s/ Tracy D. Daw Tracy D. Daw Chief Legal Officer and Secretary