Jason Robins - 20 Oct 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
20 Oct 2023
Net transactions value
-$4,816,625
Form type
4
Filing time
24 Oct 2023, 20:01:31 UTC
Previous filing
01 Sep 2023
Next filing
13 Nov 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 Options Exercise $764,000 +200,000 +5.2% $3.82* 4,011,351 20 Oct 2023 Direct F1
transaction DKNG Class A Common Stock Sale $5,237,183 -193,254 -4.8% $27.10 3,818,097 20 Oct 2023 Direct F2, F3
transaction DKNG Class A Common Stock Sale $185,717 -6,746 -0.18% $27.53 3,811,351 20 Oct 2023 Direct F2, F4
transaction DKNG Class A Common Stock Options Exercise +11,588 +0.3% 3,822,939 23 Oct 2023 Direct F5
transaction DKNG Class A Common Stock Tax liability $157,724 -5,603 -0.15% $28.15 3,817,336 23 Oct 2023 Direct
holding DKNG Class A Common Stock 586,696 20 Oct 2023 Held by the IQ EQ Trust Company, U.S., LLC TR UA (04/21/2020) Jason Robins 2020 Trust
holding DKNG Class A Common Stock 83,000 20 Oct 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 Stock Option Options Exercise $0 -200,000 -67% $0.000000 99,099 20 Oct 2023 Class A Common Stock 200,000 $3.82 Direct F1, F6, F7
transaction DKNG Restricted Stock Units Options Exercise $0 -11,588 -33% $0.000000 23,174 23 Oct 2023 Class A Common Stock 11,588 Direct F5, F8
holding DKNG Stock Option 275,611 20 Oct 2023 Class A Common Stock 275,611 $3.82 Held by the Robins December 2021 Grantor Retained Annuity Trust F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person acquired shares of Class A Common Stock of the Issuer after the exercise of stock options in an exercise-and-hold transaction, and paid the aggregate exercise price in cash.
F2 The reported sale was made pursuant to a pre-arranged program for selling shares of Class A Common Stock adopted on February 23, 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 $26.48 to $27.47, 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 $27.48 to $27.63, inclusive. See the last sentence of footnote 3 to this Form 4 above.
F5 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 11,588 shares of Class A Common Stock underlying the restricted stock units listed in Table II, and 5,603 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.
F6 These stock options were granted on May 3, 2017. As of the date hereof, all such remaining stock options have vested.
F7 Reflects the transfer of 299,099 stock options previously reported as indirectly held by the Robins December 2021 Grantor Retained Annuity Trust.
F8 On August 11, 2020, the Reporting Person was granted 185,396 restricted stock units, vesting quarterly over 4 years from April 23, 2020, with the vesting of any restricted stock units scheduled to vest before September 12, 2020 vesting on September 12, 2020 and the vesting of the remaining restricted stock units occurring on October 23, 2020 and each quarter thereafter.

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.