Brian Parisi
About Brian Parisi
Brian Parisi, age 55, has served as Chief Financial Officer (Principal Financial and Accounting Officer) of Kartoon Studios, Inc. since September 2023, bringing 30 years of finance and operations experience across entertainment, media, and technology, and is a CPA with a B.S. in Accounting from Purdue University and an MBA from USC Marshall; he was recognized as the 2024 Public Company CFO of the Year by the Los Angeles Business Journal . Company performance context: cumulative total shareholder return (TSR) on a $100 investment since 12/31/2021 declined to $6 in 2024, alongside net loss of $20.9 million for 2024, framing a turnaround mandate under which Parisi has emphasized cost reductions and liquidity improvements . In Q3 2025 commentary, Parisi highlighted reduced overhead, improved liquidity, and contracted revenue visibility through 2027, positioning the company for scalable growth .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Break the Floor Productions | Chief Financial Officer | Starting in 2019 | Prepared company for sale; completed two separate sale transactions with private equity |
| NFL Hall of Fame Village (HOFV) | Chief Financial Officer | 2017–2019 | Raised capital; managed construction budgets; assisted IPO; financial reporting and cash management |
| Live Nation Entertainment | Head of Finance, Festivals Division | 2009–2016 | Managed financial, strategic, and treasury functions for EDM festivals with 1.3M fans annually |
| Warner Bros. Entertainment | Finance executive | Not disclosed | Senior finance roles (details not disclosed) |
| NBC Universal | Finance executive | Not disclosed | Senior finance roles (details not disclosed) |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Los Angeles Business Journal | Public Company CFO of the Year (award) | 2024 | Recognition for CFO leadership |
| Public company boards | None disclosed | — | No public company director roles disclosed for Parisi in the proxy |
Fixed Compensation
| Year | Base Salary ($) | Target Bonus % | Actual Bonus ($) | Other Cash ($) |
|---|---|---|---|---|
| 2023 | 85,000 | Not disclosed | — | — |
| 2024 | 331,439 | Discretionary (not specified) | 15,000 | — |
CFO Employment Agreement terms: initial one-year term at $325,000 (effective Sept 27, 2023), extended for an additional one year at $350,000 (Sept 22, 2024), with discretionary bonuses; $15,000 was paid in 2024 upon fundraising net proceeds exceeding $4 million .
Performance Compensation
| Incentive Type | Metric(s) | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Annual bonus | Discretionary; no formal metrics disclosed | N/A | N/A | 2024 bonus paid upon fundraising condition | 15,000 (2024) | Cash (paid) |
| RSUs (time-based) | Time-based service vesting | N/A | 35,000 granted (FV $50,050) | 23,333 unvested at 12/31/2024 | — | Vest annually over three years from 12/14/2023 |
Equity Ownership & Alignment
| Item | Details |
|---|---|
| Total beneficial ownership (Record Date: 3/17/2025) | 11,667 shares (<1% of class) |
| Shares owned directly | 5,834 |
| RSUs vesting within 60 days of record date | 5,833 |
| Unvested RSUs (12/31/2024) | 23,333 (market value $13,767 at $0.59 close) |
| Options (exercisable/unexercisable) | None disclosed for Parisi |
| Shares pledged as collateral | None disclosed; hedging/pledging prohibited by company policy |
| Stock ownership guidelines | Not disclosed |
| Section 16 compliance | One Form 4 late filing for Parisi (filed Jan 6, 2025) |
Employment Terms
| Term | Disclosure |
|---|---|
| Start date & role | CFO since September 2023 |
| Contract term & salary | One year at $325,000 (effective 9/27/2023), extended one year at $350,000 (9/22/2024) |
| Bonus | Discretionary; $15,000 in 2024 tied to fundraising net proceeds condition |
| Equity | 35,000 RSUs granted on 12/14/2023 (fair value $50,050), vest annually over three years |
| Severance (death/retirement) | Unpaid discretionary bonus for prior fiscal year |
| Disability | Salary continuation and supplemental payments for defined periods; detailed terms in agreement |
| Restrictive covenants | Confidentiality, intellectual property, non-compete, and non-solicitation provisions |
| Clawback | Executive incentive compensation clawback adopted 12/1/2023 for restatements (3-year lookback) |
| Change-in-control (equity) | 2020 Plan permits assumption/substitution, acceleration or cancellation at Committee discretion; 2015 Plan provides immediate vesting upon death/disability |
| Hedging/pledging policy | Prohibits hedging, short sales, publicly traded options, margin accounts, and pledging company stock |
Performance & Track Record
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Value of initial fixed $100 investment (TSR, $) | 44 | 13 | 6 |
| Net loss ($000s) | (45,595) | (77,103) | (20,941) |
- “Our Q3 results reflect continued improvement in operating efficiency and financial flexibility… reduce overhead, improve liquidity, and position the company for scalable growth. With contracted revenue visibility through 2027 and a stronger balance sheet, Kartoon Studios enters 2026 from a position of strength.” — Brian Parisi, CFO (Q3 2025) .
- Company completed a $7.3 million financing in October 2025, with potential for another $7.3 million upon cash exercise of accompanying warrants; the investor agreed not to sell below $1.00 until 12/31/2025 — strengthening liquidity near-term .
Compensation Structure Analysis
- Cash vs equity mix: In 2024, Parisi’s compensation was predominantly cash (salary $331,439 plus $15,000 bonus), with modest equity exposure (35,000 RSUs granted in 12/2023; 23,333 unvested at 12/31/2024), suggesting limited direct alignment via equity ownership (<1%) .
- Incentive design: Bonus is discretionary rather than tied to explicit operational/financial metrics; RSUs are time-based, not performance-based, indicating lower performance contingency in CFO incentives .
- Governance safeguards: Robust hedging/pledging prohibitions and an adopted clawback policy mitigate misalignment and restatement risk .
- Administration and equity plan capacity: 2020 Plan amendments increased shares available for awards, enabling continuity of equity-based incentives across the executive team .
Risk Indicators & Red Flags
- Late Section 16 filing: One Form 4 for Parisi was filed late (January 6, 2025), a procedural compliance issue to monitor .
- Dilution mechanics (company-level context): Expanded 2020 Plan share pool and warrant structures from late-2024 financing could contribute to overhang; monitor implications for future equity awards and insider liquidity windows .
Investment Implications
- Alignment and retention: Parisi’s low direct ownership (<1%) and time-based RSUs provide modest alignment; however, strong anti-hedging/pledging and clawback policies reduce misalignment risk. Contract extension through 2025 and multi-year RSU vesting support near-term retention; watch for renewal beyond current term .
- Selling pressure: RSU vesting is relatively small versus 47.8 million shares outstanding, implying limited incremental selling pressure from Parisi specifically; nonetheless, monitor vesting dates and trading windows given one late Form 4 in early 2025 .
- Execution signal: CFO’s Q3 2025 commentary and October 2025 financing indicate a focus on liquidity and contracted revenue visibility through 2027; successful delivery on these narratives could be a positive operational catalyst despite challenging TSR history .