Jason Robins - 12 May 2022 Form 4 Insider Report for DraftKings Inc. (DKNG)

Role
Officer, Director
Signature
/s/ Faisal Hasan, attorney-in-fact
Issuer symbol
DKNG
Transactions as of
12 May 2022
Net transactions value
+$509,464
Form type
4
Filing time
13 May 2022, 20:00:47 UTC
Previous filing
09 May 2022
Next filing
24 May 2022
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 Options Exercise +38,217 +0.9% 4,298,466 12 May 2022 Direct F1
transaction DKNG Class A Common Stock Tax liability $193,222 -16,994 -0.4% $11.37 4,281,472 12 May 2022 Direct
transaction DKNG Class A Common Stock Options Exercise $373,737 +113,598 +2.7% $3.29* 4,395,070 12 May 2022 Direct F3
transaction DKNG Class A Common Stock Options Exercise $328,948 +69,989 +1.6% $4.70* 4,465,059 12 May 2022 Direct F3
holding DKNG Class A Common Stock 83,000 12 May 2022 Held by the Robins Family GST Trust 2021
holding DKNG Class A Common Stock 141,092 12 May 2022 Held by Robins September 2020 Grantor Retained Annuity Trust

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 -38,217 -6.3% $0.000000 573,251 12 May 2022 Class A Common Stock 38,217 Direct F1, F2
transaction DKNG Stock Option Options Exercise $0 -113,598 -100% $0.000000* 0 12 May 2022 Class A Common Stock 113,598 $3.29 Direct F3, F5
transaction DKNG Stock Option Options Exercise $0 -69,989 -17% $0.000000 350,004 12 May 2022 Class A Common Stock 69,989 $4.70 Direct F3, F4
* 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 38,217 shares of Class A Common Stock underlying the restricted stock units listed in Table II, and 16,994 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 February 9, 2022, the Reporting Person was granted 611,468 RSUs vesting quarterly over four (4) years.
F3 The Reporting Person acquired shares of Class A Common Stock of the Issuer after the exercise of options and paid the aggregate exercise price and the tax withholdings in cash.
F4 These Stock Options were granted on June 4, 2019. As of the date hereof, zero (0) of such Stock Options have vested. The remaining Stock Options will vest in five (5) equal quarterly installments beginning on June 1, 2022.
F5 The options are vested and currently exercisable.

Remarks:

Chief Executive Officer and Chairman of the Board. In addition, Jason Robins is the sole holder of 393,013,951 shares of Class B Common Stock of the Issuer, which are not registered securities.