UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02. 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.
Item 9.01. 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 | ||||||