Jury awarded $1 to each of Gregory Hill Jr.'s three children, while another $1 will go towards funeral expenses.
The child's mother pulled him out of the school following the incident.
Officers used a Taser to try subdue the man but it did not work.
"Both officers perceived that threat at the same time and they both fired," West Valley City Police Chief Colleen Jacobs said.
Police were called out to a man pointing what witnesses thought was a firearm at people.
"What happened was absolutely horrific and we are so very sorry, so very sorry for your loss," Sacramento Kings owner and chairman Vivek Ranadivé said.
The disturbing footage shows the officers shooting and killing 22-year-old Stephon Clark.
Clark, 22, was pronounced dead at the scene after two officers fired multiple shots at him.
This marks the 17th firearms-related police fatality of 2018, already up 167 percent from this time in 2017.
"We need to change the way that we look at this issue and the way that we talk about it," Boston University School of Public Health professor Michael Siegel said.
The 16-year-old has been identified by family members as Anthony Jacob Weber.
The twin daughters and pastor of Bettie Jones are calling for justice after new report finds shooting "not justified."
"Please avoid this area," the sheriff's office warned on Twitter.
The department has also faced backlash over two police shootings.
Police Officer Jason Stockley was acquitted today in the shooting death of Anthony Lamar Smith. Newsweek reviewed court documents and broke down the arguments.
The police officer is being tried in the murder of Anthony Lamar Smith.
The officer, Greg Abbott, claims he was trying to get a nervous driver to comply.
Brown's death sparked outrage and riots across Ferguson, Missouri.
For third time in a week, prosecutors fail to convict a cop
The recent acquittals in both Milwaukee and St. Paul follow a highly familiar pattern.
A warrant has been issued authorizing the arrest of former Balch Springs police officer Roy Oliver to face a charge of murder for the death of Jordan Edwards.