v3.25.2
Stock Options
6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Stock Options

Note 14: Stock Options

 

On August 27, 2020, the Company’s stockholders approved the adoption of the Kartoon Studios, Inc. 2020 Equity Incentive Plan (as amended, the ”2020 Plan”). The 2020 Plan replaced the previously adopted 2015 Incentive Plan (the “2015 Plan”). The maximum number of shares available for issuance was initially equal to the sum of (i) 3,000,000 shares of common stock and (ii) the number of shares of common stock remaining available for issuance under the 2015 Plan, which was then equal to 216,767 shares. On May 23, 2023, the Company’s stockholders approved the adoption of an Amended and Restated 2020 Equity Incentive Plan, which provided for the maximum number of shares of common stock available for issuance under the 2020 Plan to be increased by 5,000,000 shares. Subsequently, on May 14, 2025, the Company’s stockholders approved a further amendment and restatement of the 2020 Plan, providing for an additional increase of 5,000,000 shares of common stock authorized for issuance under the plan. As of June 30, 2025 the maximum number of shares available for issuance was 13,216,767.

 

During the six months ended June 30, 2025 and 2024, the Company did not grant any stock options.

 

The following table summarizes the Company’s option activity:

               
   Stock Options   Weighted-Average Remaining Contractual Life   Weighted-Average Exercise Price per Share 
Outstanding at December 31, 2024   952,140    4.79   $12.72 
Granted            
Exercised            
Forfeited/Cancelled   (25,547)       7.70 
Expired   (44,280)       16.45 
Outstanding at June 30, 2025   882,313    4.58   $12.68 
                
Unvested at June 30, 2025            
Vested and exercisable at June 30, 2025   882,313    4.58   $12.68 

 

During the three months ended June 30, 2025 and 2024, the Company recognized $6,486 and $40,317, respectively, in share-based compensation expense related to stock options. During the six months ended June 30, 2025 and 2024, the Company recognized $24,699 and $0.1 million, respectively, in share-based compensation expense related to stock options included in General and Administrative Expense on the Company’s condensed consolidated statements of operations. As of June 30, 2025, the Company had no unrecognized share-based compensation expense related to outstanding stock options. The outstanding options as of June 30, 2025 had an aggregated intrinsic value of zero.