Paul Liberman - May 31, 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 31, 2023
Transactions value $
-$1,806,578
Form type
4
Date filed
6/2/2023, 08:06 PM
Previous filing
May 24, 2023
Next filing
Jul 25, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DKNG Class A Common Stock Sale -$1.55M -66.7K -4.78% $23.19 1.33M May 31, 2023 Held by the Paul Liberman 2015 Revocable Trust F2, F3
transaction DKNG Class A Common Stock Options Exercise +22.1K +1.29% 1.74M Jun 1, 2023 Direct F1
transaction DKNG Class A Common Stock Tax liability -$261K -10.7K -0.61% $24.43 1.73M Jun 1, 2023 Direct
holding DKNG Class A Common Stock 272K May 31, 2023 Held by the Paul Liberman 2020 Trust
holding DKNG Class A Common Stock 13.6K May 31, 2023 Held by the Liberman Grantor Retained Annuity Trust of 2020
holding DKNG Class A Common Stock 200K May 31, 2023 Held by the Rachel Nager Liberman 2015 Revocable Trust
holding DKNG Class A Common Stock 200K May 31, 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 -22.1K -6.25% $0.00 331K Jun 1, 2023 Class A Common Stock 22.1K Direct F1, 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 ("RSUs") other than to the Issuer to satisfy withholding taxes. The Reporting Person received the net of the 22,059 shares of Class A Common Stock underlying the RSUs listed in Table II, and 10,666 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 The reported sale was made pursuant to a pre-arranged program for selling shares of Class A Common Stock adopted on February 24, 2023 pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $22.95 to $23.45, 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 ranges set forth in this footnote 3 to this Form 4.
F4 On February 13, 2023, the Reporting Person was granted 352,941 RSUs vesting quarterly over four (4) years.

Remarks:

President, Global Technology and Product