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

Role
Chief Legal Officer
Signature
/s/ Faisal Hasan, attorney-in-fact
Issuer symbol
DKNG
Transactions as of
20 Feb 2025
Transactions value $
$-7,787,187
Form type
4
Filing time
24 Feb 2025, 21:46:37 UTC
Previous filing
11 Feb 2025
Next filing
04 Mar 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 +360,070 +65.1% $0.000000 913,096 20 Feb 2025 Direct F1, F2
transaction DKNG Class A Common Stock Sale $-2,971,336 -64,735 -7.09% $45.90 848,361 21 Feb 2025 Direct F3, F4
transaction DKNG Class A Common Stock Sale $-1,536,308 -32,618 -3.84% $47.10 815,743 21 Feb 2025 Direct F3, F5
transaction DKNG Class A Common Stock Sale $-2,434,160 -50,860 -6.23% $47.86 764,883 21 Feb 2025 Direct F3, F6
transaction DKNG Class A Common Stock Sale $-796,577 -16,260 -2.13% $48.99 748,623 21 Feb 2025 Direct F3, F7
transaction DKNG Class A Common Stock Options Exercise +2,446 +0.33% 751,069 22 Feb 2025 Direct F2, F8
transaction DKNG Class A Common Stock Tax liability $-48,805 -1,071 -0.14% $45.57 749,998 22 Feb 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 -2,446 -100% $0.000000 0 22 Feb 2025 Class A Common Stock 2,446 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.