Marni M. Walden - Jun 3, 2022 Form 4 Insider Report for DraftKings Inc. (DKNG)

Role
Director
Signature
/s/ Faisal Hasan, attorney-in-fact
Stock symbol
DKNG
Transactions as of
Jun 3, 2022
Transactions value $
-$11
Form type
4
Date filed
6/7/2022, 08:00 PM
Previous filing
May 9, 2022
Next filing
Aug 4, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DKNG Class A Common Stock Options Exercise $252K +61K +53.3% $4.13* 175K Jun 3, 2022 Direct F1, F2
transaction DKNG Class A Common Stock Tax liability -$252K -19.8K -11.29% $12.72 156K Jun 3, 2022 Direct F1, 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 Stock Option Options Exercise $0 -61K -100% $0.00* 0 Jun 3, 2022 Class A Common Stock 61K $4.13 Direct F1, F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These options originate from the Agreement and Plan of Merger, dated August 9, 2021, and in consummation of the relevant merger, each outstanding stock option to purchase DraftKings Inc. (now known as DraftKings Holdings Inc.) Class A Common Stock was converted into an equivalent stock option to purchase New Duke Holdco, Inc. (now known as DraftKings Inc.) Class A Common Stock.
F2 Represents shares of Class A Common Stock of the Issuer underlying options exercised by the Reporting Person.
F3 These shares were withheld so the Reporting Person could satisfy the exercise price arising from a net (cashless) exercise of stock options that occurred on June 3, 2022. The options subject to the net exercise were to expire on October 4, 2028.
F4 The options are vested and are exercised as of June 3, 2022.