Director LUNSFORD MICHAEL C sold 97,000 shares (89.3% of holdings) at $10.40 on 2024-11-15 for $1,008,800.00
Michael C. Lunsford, a director at Funko Inc., executed a substantial reduction in his equity stake, selling 97,000 shares on 2024-11-15 at $10.40 per share and retaining only 11,613 shares post-transaction. This sale occurred in a backdrop of material company deterioration: annual revenue declined 17.1% year-over-year, the company posted negative net income for its most recent full fiscal year despite reporting $4.3M net income in the latest quarter, and the stock has declined 16.0% over the prior 30 days and 17.2% from its 52-week high of $12.53. The magnitude of the equity reduction—89.3% of pre-transaction holdings—combined with the company's revenue contraction and unprofitability trajectory raises questions about insider confidence in the near-term business trajectory.