Kartoon Studios, Inc. — Director's Dealing 2023

Dec 14, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Kartoon Studios, Inc. (TOON)
CIK: 0001355848
Period of Report: 2023-12-07

Reporting Person: Jaffa Michael (COO, GC & Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-12-07	Common Stock, par value $0.001 per share	M	16667	—	Acquired	50001	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-12-07	Restricted Stock Units	$	M	16667	Disposed		Common Stock, par value $0.001 per share (16667)	Direct

Footnotes

F1: Each restricted stock unit represents a contingent right to receive one share of TOON common stock.

F2: 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 common stock was automatically converted into 1 share of common stock.

F3: On December 7, 2020, the Reporting Person was granted 500,000 restricted stock units, vesting as follows: 166,666 shares on December 7, 2021, 166,666 shares on December 7, 2022, and 166,668 shares on December 7, 2023, subject to the Reporting Person's continued employment. Vested shares were delivered to the Reporting Person in equal installments in each calendar quarter following the vesting date. The restricted stock units, which vested on December 7, 2023, were previously reported as covering 166,668 shares, but were adjusted to 16,667 shares to reflect the 2023 Reverse Stock Split.