Jason Robins - 08 Aug 2023 Form 4 Insider Report for DraftKings Inc. (DKNG)

Role
Officer, Director
Signature
/s/ Faisal Hasan, attorney-in-fact
Issuer symbol
DKNG
Transactions as of
08 Aug 2023
Net transactions value
-$10,152,118
Form type
4
Filing time
10 Aug 2023, 20:03:56 UTC
Previous filing
25 Jul 2023
Next filing
23 Aug 2023
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 Sale $8,073,224 -252,525 -5.8% $31.97 4,066,698 08 Aug 2023 Direct F2, F3
transaction DKNG Class A Common Stock Sale $1,556,705 -47,475 -1.2% $32.79 4,019,223 08 Aug 2023 Direct F2, F4
transaction DKNG Class A Common Stock Options Exercise +38,217 +0.95% 4,057,440 09 Aug 2023 Direct F1
transaction DKNG Class A Common Stock Tax liability $522,188 -18,478 -0.46% $28.26 4,038,962 09 Aug 2023 Direct
holding DKNG Class A Common Stock 586,696 08 Aug 2023 Held by the Concord Trust Company LLC TR UA (04/21/2020) Jason Robins 2020 Trust
holding DKNG Class A Common Stock 83,000 08 Aug 2023 Held by the Robins Family GST Trust 2021

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 -9.1% $0.000000 382,167 09 Aug 2023 Class A Common Stock 38,217 Direct F1, F5
* 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 38,217 shares of Class A Common Stock underlying the RSUs listed in Table II, and 18,478 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 sales were made pursuant to a pre-arranged program for selling shares of Class A Common Stock adopted on February 23, 2023 (as amended) 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 $31.58 to $32.57, 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 range set forth in footnotes 3 and 4 to this Form 4.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $32.60 to $33.19, inclusive. See the last sentence of footnote 3 to this Form 4 above.
F5 On February 9, 2022, the Reporting Person was granted 611,468 RSUs vesting quarterly over four (4) years.

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.