Jason Park - Feb 22, 2022 Form 4 Insider Report for DraftKings Inc. (DKNG)

Signature
/s/ Faisal Hasan, attorney-in-fact
Stock symbol
DKNG
Transactions as of
Feb 22, 2022
Transactions value $
-$4,055,084
Form type
4
Date filed
2/24/2022, 08:32 PM
Previous filing
Feb 11, 2022
Next filing
Apr 26, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DKNG Class A Common Stock Options Exercise +2.66K +9.12% 31.8K Feb 22, 2022 Direct F1
transaction DKNG Class A Common Stock Tax liability -$21.9K -1.18K -3.71% $18.59* 30.6K Feb 22, 2022 Direct
transaction DKNG Class A Common Stock Award $0 +283K +925.08% $0.00 314K Feb 22, 2022 Direct F2
transaction DKNG Class A Common Stock Award $0 +222K +70.86% $0.00 536K Feb 22, 2022 Direct F3
transaction DKNG Class A Common Stock Sale -$1.32M -66.7K -12.43% $19.76* 470K Feb 23, 2022 Direct F4
transaction DKNG Class A Common Stock Sale -$2.72M -132K -28.19% $20.51* 337K Feb 23, 2022 Direct F5
holding DKNG Class A Common Stock 29.2K Feb 22, 2022 Held by Park Family 2021 Grantor Retained Annuity Trust F6
holding DKNG Class A Common Stock 100K Feb 22, 2022 Held by Park Family 2021 GRAT II
holding DKNG Class A Common Stock 100K Feb 22, 2022 Held by Park Family 2022 Grantor Retained Annuity Trust III F7
holding DKNG Class A Common Stock 70.8K Feb 22, 2022 Held by Park Family 2022 Grantor Retained Annuity Trust IV F6

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 -2.66K -7.69% $0.00 31.9K Feb 22, 2022 Class A Common Stock 2.66K Direct F1, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 No shares of Class A Common Stock were transferred or sold upon the vesting of the restricted stock units ("RSUs") other than to the Issuer to satisfy withholding taxes. The Reporting Person received the net of the 2,659 shares of Class A Common Stock underlying the RSUs listed in Table II, and 1,180 shares of Class A Common Stock withheld by the Issuer. Each 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 (the "Plan"), which vested upon the achievement of certain performance goals. Each RSU represents a contingent right to receive one share of the Issuer's Class A Common Stock.
F3 Represents the vesting of the performance-based restricted stock units ("PSUs") granted pursuant to the Plan, which vested upon the achievement of certain performance criteria. Each PSU represents a contingent right to receive one share of the Issuer's Class A Common Stock.
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 and PSUs. The "sell to cover" transactions were effected pursuant to a Rule 10b5-1 trading plan. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $19.06 to $20.05, 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 and 5 to this Form 4.
F5 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 and PSUs. The "sell to cover" transactions were effected pursuant to a Rule 10b5-1 trading plan. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $20.06 to $20.895, inclusive.
F6 Reflects the transfer of 70,826 shares of Common Stock previously reported as indirectly held by the Park Family 2021 Grantor Retained Annuity Trust to the Park Family 2021 Grantor Retained Annuity Trust IV, both of which the Reporting Person serves as the Trustee and is the sole annuitant. There was no purchase or sale of shares of Common Stock in connection with the transfer. The Reporting Person disclaims beneficial ownership of the shares of Common Stock held by the Park Family 2021 Grantor Retained Annuity Trust and the Park Family 2021 Grantor Retained Annuity Trust IV except to the extent of his pecuniary interest therein.
F7 Reflects 100,000 shares of Common Stock previously reported as directly beneficially owned by the Reporting Person, which were transferred to the Park Family 2021 Grantor Retained Annuity Trust III, of which the Reporting Person serves as the Trustee and is the sole annuitant. There was no purchase or sale of shares of Common Stock in connection with the transfer. The Reporting Person disclaims beneficial ownership of the shares of Common Stock held by the Park Family 2021 Grantor Retained Annuity Trust III except to the extent of his pecuniary interest therein.
F8 On February 22, 2021, the Reporting Person was granted 42,539 RSUs vesting quarterly over 4 years.