Alan Wayne Ellingson - Feb 24, 2025 Form 4 Insider Report for DraftKings Inc. (DKNG)

Role
Chief Financial Officer
Signature
/s/ Faisal Hasan, attorney-in-fact
Stock symbol
DKNG
Transactions as of
Feb 24, 2025
Transactions value $
-$6,988,893
Form type
4
Date filed
2/26/2025, 07:38 PM
Previous filing
Feb 18, 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 +314K +1335.67% $0.00 338K Feb 24, 2025 Direct F1, F2
transaction DKNG Class A Common Stock Options Exercise +213 +0.06% 338K Feb 24, 2025 Direct F1, F3
transaction DKNG Class A Common Stock Tax liability -$4.56K -103 -0.03% $44.27 338K Feb 24, 2025 Direct
transaction DKNG Class A Common Stock Sale -$4.38M -104K -30.71% $42.21 234K Feb 25, 2025 Direct F4, F5
transaction DKNG Class A Common Stock Sale -$2.23M -52.1K -22.26% $42.77 182K Feb 25, 2025 Direct F4, F6
transaction DKNG Class A Common Stock Sale -$118K -2.7K -1.48% $43.91 179K Feb 25, 2025 Direct F4, F7
transaction DKNG Class A Common Stock Sale -$253K -5.88K -3.28% $43.10 174K Feb 26, 2025 Direct F8

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 -213 -100% $0.00 0 Feb 24, 2025 Class A Common Stock 213 Direct F1, F3, 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 Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's Class A Common Stock.
F2 Represents the vesting of the RSUs granted pursuant to the Issuer's 2020 Incentive Award Plan, which vested upon the achievement of certain performance goals.
F3 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 213 shares of Class A Common Stock underlying the RSUs listed in Table II, and 103 shares of Class A Common Stock withheld by the Issuer.
F4 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.
F5 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $41.53 to $42.52, 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 5, 6, and 7 to this Form 4.
F6 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $42.53 to $43.52, inclusive. See the last sentence of footnote 5 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 $43.53 to $44.00, inclusive. See the last sentence of footnote 5 to this Form 4 above.
F8 The reported sales were made pursuant to a pre-arranged program for selling shares of Class A Common Stock adopted on November 20, 2024 pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934.
F9 On February 24, 2021, the Reporting Person was granted 3,411 RSUs vesting quarterly over four (4) years.