Le Pendeven Yves 4

What Happened

• Yves Le Pendeven, Funko's Chief Financial Officer, had restricted stock units (RSUs) vest in mid-March 2026 and converted those RSUs into 18,167 shares (two vesting events: 9,767 and 8,400 shares) at $0 cost. A portion of the newly issued shares—6,031 total—were sold in open-market transactions to cover taxes, generating approximately $23,845 in proceeds.
• The sales were routine “sell to cover” transactions executed under a Rule 10b5-1 sell-to-cover instruction. Reported weighted-average prices: $4.14 (3,199 shares; range $4.12–$4.27) and $3.74 (2,832 shares; range $3.66–$3.92).

Key Details

• Transaction dates: RSU conversions on 2026-03-12 and 2026-03-13; open-market sales on 2026-03-13 and 2026-03-16.
• Sales: 3,199 shares at a $4.14 weighted average ($13,259) and 2,832 shares at a $3.74 weighted average ($10,586); total sold = 6,031 shares for ~$23,845.
• Acquisitions: 9,767 shares (from 3/12/25 RSU grant vesting) and 8,400 shares (from 3/13/24 RSU grant vesting) reported as acquired at $0 (RSU conversion).
• Tax/treatment notes: Shares were sold to cover taxes pursuant to a Rule 10b5-1 sell-to-cover instruction (footnote F2). Weighted-average sale prices reflect multiple trades; the filer can provide per-trade price breakdown on request (F3, F4).
• Shares owned after the transactions: not specified in the provided filing excerpt.
• Timeliness: Period of report is 2026-03-12 and the Form 4 was filed on 2026-03-16; this filing appears timely under Form 4 reporting rules.

Context

• Code M indicates conversion/exercise of a derivative award—in this case RSUs that vested and converted into shares at no cash exercise price, with some of those shares immediately sold to satisfy tax withholding (a common, non-transactional liquidity event).
• These sales were routine tax withholding/sell-to-cover actions tied to compensation vesting and do not necessarily indicate the insider’s view on the company’s stock.