UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 25, 2025, Kartoon Studios, Inc., a Nevada corporation (the “Company”), entered into a new Executive Employment Agreement (the “Employment Agreement”) with Andrew Heyward (the “Heyward Employment Agreement”), which supersedes and replaces Mr. Heyward’s prior employment agreement with the Company. Pursuant to the Heyward Employment Agreement, Mr. Heyward will continue to serve as the Company’s Chief Executive Officer for a three-year term, effective August 25, 2025 (the “Effective Date”) at an annual base salary equivalent to the total annual compensation, paid to Mr. Heyward under his prior employment agreement with the Company. Pursuant to the Heyward Employment Agreement, Mr. Heyward will also be eligible to receive an annual performance bonus upon the achievement of yearly bonus targets.
The full text of the Heyward Employment Agreement, a copy of which is attached hereto as Exhibit 10.1 is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit Number |
Exhibit Description | |
| 10.1* | Employment Agreement between Kartoon Studios, Inc. and Andy Heyward, dated August 25, 2025 | |
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document) |
| * |
Exhibits and Schedules have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company agrees to furnish supplementally a copy of any omitted exhibit and schedule to the SEC upon request. |
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SIGNATURES
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.
| KARTOON STUDIOS, INC. | ||
| Date: August 29, 2025 | By: | /s/ Michael Jaffa |
| Name: | Michael Jaffa | |
| Title: | General Counsel | |
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