Current Report Filing (8-k)
April 18 2019 - 4:18PM
Edgar (US Regulatory)
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
April 15, 2019
Date of Report (Date of earliest event reported)
FUNKO, INC.
(Exact Name of Registrant as Specified in its Charter)
|
|
|
|
|
Delaware
|
|
001-38274
|
|
3-2593276
|
(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
(Registrants 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))
|
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. ☒
Item 5.02.
|
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
|
On April 15, 2019, Russell Nickel notified Funko, Inc. (the Company)
of his resignation as Chief Financial Officer (CFO) of the Company, effective as of the earlier of December 31, 2019 (the Separation Date) and the date on which his successor commences employment with the Company (the
Transition Date). Mr. Nickels employment with the Company will end on the Separation Date.
In connection with
Mr. Nickels resignation, the Company has entered into a transition and release of claims agreement with Mr. Nickel (the Transition Agreement). Under the Transition Agreement, if Mr. Nickels successor commences
employment with the Company prior to the Separation Date, Mr. Nickel has agreed to remain employed as a Special Advisor to the Company during the period beginning on the Transition Date and ending on the Separation Date. The terms of
Mr. Nickels existing Employment Agreement with the Company, dated as of October 20, 2017 (the Employment Agreement), will continue to control until the Separation Date, subject to the terms of the Transition Agreement.
In addition to any benefits Mr. Nickel is entitled to pursuant to Section 7.05(a) of his Employment Agreement, Mr. Nickel will be entitled
to receive, subject to Mr. Nickels execution and
non-revocation
of a waiver and release of claims agreement and his continued compliance with certain restrictive covenants set forth in the
Employment Agreement: (i) continued base salary for 12 months following the Separation Date (the Transition Period), which equals an aggregate amount of $400,000, less applicable withholdings, and reimbursement during the Transition
Period of the Company-paid portion of premium payments, as if Mr. Nickel had remained an active employee, for any COBRA coverage that he timely elects, which shall be payable monthly; (ii) a prorated 2019 annual bonus based on actual
individual and Company performance goals as determined by the Companys Board of Directors; and (iii) accelerated vesting of certain outstanding equity awards held by Mr. Nickel, as further described in the Transition Agreement, each
of which shall become vested on the Separation Date.
The foregoing description of the Transition Agreement does not purport to be complete and is
qualified in its entirety by reference to the actual Transition Agreement, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
Item 9.01
|
Financial Statements and Exhibits.
|
(d) Exhibits
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: April 18, 2019
|
|
|
|
FUNKO, INC.
|
|
|
|
|
|
|
|
|
By:
|
|
/s/ Tracy D. Daw
|
|
|
|
|
|
|
Tracy D. Daw
|
|
|
|
|
|
|
Sr. Vice President, General Counsel and Secretary
|
Funko (NASDAQ:FNKO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Funko (NASDAQ:FNKO)
Historical Stock Chart
From Apr 2023 to Apr 2024