R. Stanton Dodge - Feb 20, 2025 Form 4 Insider Report for DraftKings Inc. (DKNG)

Role
Chief Legal Officer
Signature
/s/ Faisal Hasan, attorney-in-fact
Stock symbol
DKNG
Transactions as of
Feb 20, 2025
Transactions value $
-$7,787,187
Form type
4
Date filed
2/24/2025, 09:46 PM
Previous filing
Feb 11, 2025
Next filing
Mar 4, 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DKNG Class A Common Stock Award $0 +360K +65.11% $0.00 913K Feb 20, 2025 Direct F1, F2
transaction DKNG Class A Common Stock Sale -$2.97M -64.7K -7.09% $45.90 848K Feb 21, 2025 Direct F3, F4
transaction DKNG Class A Common Stock Sale -$1.54M -32.6K -3.84% $47.10 816K Feb 21, 2025 Direct F3, F5
transaction DKNG Class A Common Stock Sale -$2.43M -50.9K -6.23% $47.86 765K Feb 21, 2025 Direct F3, F6
transaction DKNG Class A Common Stock Sale -$797K -16.3K -2.13% $48.99 749K Feb 21, 2025 Direct F3, F7
transaction DKNG Class A Common Stock Options Exercise +2.45K +0.33% 751K Feb 22, 2025 Direct F2, F8
transaction DKNG Class A Common Stock Tax liability -$48.8K -1.07K -0.14% $45.57 750K Feb 22, 2025 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction DKNG Restricted Stock Units Options Exercise $0 -2.45K -100% $0.00 0 Feb 22, 2025 Class A Common Stock 2.45K Direct F2, F8, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Represents the vesting of the restricted stock units ("RSUs") granted pursuant to the Issuer's 2020 Incentive Award Plan, which vested upon the achievement of certain performance goals.
F2 Each RSU represents a contingent right to receive one share of the Issuer's Class A Common Stock.
F3 Represents the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of RSUs. The "sell to cover" transactions were effected pursuant to a pre-arranged program for selling shares of Class A Common stock adopted on November 21, 2024 pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $45.57 to $46.56, inclusive. The Reporting Person has provided to the Issuer, and undertakes to provide any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnotes 4, 5, 6 and 7 to this Form 4.
F5 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $46.57 to $47.56, inclusive. See the last sentence of footnote 4 to this Form 4 above.
F6 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $47.57 to $48.53, inclusive. See the last sentence of footnote 4 to this Form 4 above.
F7 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $48.57 to $49.46, inclusive. See the last sentence of footnote 4 to this Form 4 above.
F8 No shares of Class A Common Stock were transferred or sold upon the vesting of the RSUs other than to the Issuer to satisfy withholding taxes. The Reporting Person received the net of the 2,446 shares of Class A Common Stock underlying the RSUs listed in Table II, and 1,071 shares of Class A Common Stock withheld by the Issuer.
F9 On February 22, 2021, the Reporting Person was granted 39,136 RSUs vesting quarterly over four (4) years.