1. Funko grants 1,000,000 restricted stock units to CEO Josh Simon. 2. The award vests over four years, contingent on continued employment. 3. Inducement Plan adopted to attract new executives post-employment gaps. 4. Funko is a leading brand in the pop culture lifestyle market. 5. New leadership aims to leverage growth in the Kidult economy.
The introduction of a new CEO with vested interests can drive growth, similar to how leadership changes have positively influenced other companies in the past. A well-structured incentive plan signifies strategic direction with alignment towards long-term success.
The CEO's success and the associated stock unit incentives are critical to Funko's future performance, which significantly correlates with investor sentiments and market reactions.
As the new CEO's strategies unfold over the four-year vesting period, Funko may experience sustained positive changes. A long-term commitment to leadership reflects confidence that may encourage investor support.
Funko, Inc. (NASDAQ:FNKO) (the "Company" or "Funko"), a leading pop culture lifestyle brand, announced today that Funko's Board of Directors, on the recommendation of Funko's Compensation Committee, has granted an inducement restricted stock unit award to Funko's new Chief Executive Officer, Josh Simon, under the Funko, Inc. 2024 Inducement Award Plan (the "Inducement Plan") covering 1,000,000 shares of the Company's Class A common stock, effective as of September 1, 2025. The award will vest over four years in four equal annual installments on each of the first four anniversaries of September 1, 2025, subject to Mr. Simon's continued employment through the applicable vesting dates, and will be subject to acceleration in full upon a change in control (as defined in the Inducement Plan). The award was granted as an inducement material to Mr. Simon's entering into employment with Funko, in accordance with and in reliance upon Nasdaq Listing Rule 5635(c)(4) and is subject to the Inducement Plan and an award agreement thereunder covering the grant.
The Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees or directors of Funko, or following a bona fide period of non-employment, as an inducement material to such individuals' entering into employment with Funko, pursuant to Nasdaq Listing Rule 5635(c)(4). The Inducement Plan was adopted by the Company's Board of Directors in May 2024.
ABOUT FUNKO:
Funko is a leading global pop culture lifestyle brand, with a diverse collection of brands, including Funko, Loungefly, and Mondo, and an industry-leading portfolio of licenses. Funko delivers industry-defining products that span vinyl figures, micro-collectibles, fashion accessories, apparel, action toys, high-end art, music collectibles, among others, many of which are at the forefront of the growing Kidult economy. Through these products, which include the iconic original Pop! line, Bitty Pop!, and Pop! Yourself, Funko inspires fans across the globe to express their passions, build community, and have fun. Founded in 1998 and headquartered in Washington state, Funko has offices, retail locations, operations, and licensed partnerships in major consumer geographies across the globe. Learn more at Funko.com, Loungefly.com, MondoShop.com, and follow us on TikTok, X, and Instagram.
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