Jason Park - Apr 23, 2022 Form 4 Insider Report for DraftKings Inc. (DKNG)

Signature
/s/ Faisal Hasan, attorney-in-fact
Stock symbol
DKNG
Transactions as of
Apr 23, 2022
Transactions value $
-$29,070
Form type
4
Date filed
4/26/2022, 08:02 PM
Previous filing
Feb 24, 2022
Next filing
May 9, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DKNG Class A Common Stock Options Exercise +4.64K +1.37% 342K Apr 23, 2022 Direct F1
transaction DKNG Class A Common Stock Tax liability -$29.1K -2.07K -0.61% $14.03* 340K Apr 23, 2022 Direct
holding DKNG Class A Common Stock 29.2K Apr 23, 2022 Held by Park Family 2021 Grantor Retained Annuity Trust F3
holding DKNG Class A Common Stock 100K Apr 23, 2022 Held by Park Family 2021 GRAT II
holding DKNG Class A Common Stock 100K Apr 23, 2022 Held by Park Family 2022 Grantor Retained Annuity Trust III F4
holding DKNG Class A Common Stock 70.8K Apr 23, 2022 Held by Park Family 2022 Grantor Retained Annuity Trust IV F3

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 -4.64K -11.11% $0.00 37.1K Apr 23, 2022 Class A Common Stock 4.64K Direct F1, F2
* 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 other than to the Issuer to satisfy withholding taxes. The Reporting Person received the net of the 4,635 shares of Class A Common Stock underlying the restricted stock units listed in Table II, and 2,072 shares of Class A Common Stock withheld by the Issuer. Each restricted stock unit represents a contingent right to receive one share of the Issuer's Class A Common Stock.
F2 On August 11, 2020, the Reporting Person was granted 74,158 restricted stock units, vesting quarterly over 4 years from April 23, 2020, with any restricted stock units scheduled to vest before September 12, 2020 vesting on September 12, 2020 and the vesting of the remaining restricted stock units occurring on October 23, 2020 and each quarter thereafter.
F3 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.
F4 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.