Paul Liberman - May 22, 2023 Form 4 Insider Report for DraftKings Inc. (DKNG)

Role
President, Global Technology and Product, Director
Signature
/s/ Faisal Hasan, attorney-in-fact
Stock symbol
DKNG
Transactions as of
May 22, 2023
Transactions value $
-$59,898
Form type
4
Date filed
5/24/2023, 08:03 PM
Previous filing
May 10, 2023
Next filing
Jun 2, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DKNG Class A Common Stock Options Exercise +5.32K +0.31% 1.72M May 22, 2023 Direct F1
transaction DKNG Class A Common Stock Tax liability -$59.9K -2.38K -0.14% $25.22 1.72M May 22, 2023 Direct
holding DKNG Class A Common Stock 1.39M May 22, 2023 Held by the Paul Liberman 2015 Revocable Trust
holding DKNG Class A Common Stock 272K May 22, 2023 Held by the Paul Liberman 2020 Trust
holding DKNG Class A Common Stock 13.6K May 22, 2023 Held by the Liberman Grantor Retained Annuity Trust of 2020
holding DKNG Class A Common Stock 200K May 22, 2023 Held by the Rachel Nager Liberman 2015 Revocable Trust
holding DKNG Class A Common Stock 200K May 22, 2023 Held by the Paul Liberman 2020 Irrevocable 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 -5.32K -12.5% $0.00 37.2K May 22, 2023 Class A Common Stock 5.32K Direct F1, F2
* 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 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 5,317 shares of Class A Common Stock underlying the RSUs listed in Table II, and 2,375 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 On February 22, 2021, the Reporting Person was granted 85,078 RSUs vesting quarterly over 4 years.

Remarks:

President, Global Technology and Product