secwatch.observer — SEC 8-K summary
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Issuer:     Funko, Inc. (FNKO)
CIK:        0001704711
Form:       8-K
Filed at:   2023-09-01T23:59:59+00:00
Accession:  0001193125-23-227657
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Funko founder Brian Mariotti resigns from board and as employee, becomes advisor at $50K quarterly
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- Mariotti resigned for 'Good Reason' effective Sept 1, 2023; no disagreement with company cited.
- Severance includes 12 months base salary, COBRA reimbursement, and full acceleration of time-based equity awards.
- Mariotti entered a 2-year advisor agreement with a $50,000 quarterly fee for consulting on licensing and creative.
- Company may terminate advisor agreement for cause with 30 days notice, or without cause with 6 months notice.
- Advisor services limited to max 8 hours per week; directed by CEO.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1704711/000119312523227657/0001193125-23-227657-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1704711/000119312523227657/d444503d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-227657

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer