Jason Robins - 21 Nov 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
21 Nov 2023
Net transactions value
-$6,823,387
Form type
4
Filing time
24 Nov 2023, 20:01:20 UTC
Previous filing
13 Nov 2023
Next filing
01 Dec 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 Gift $0 -12,947 -0.36% $0.000000 3,538,689 21 Nov 2023 Direct F1
transaction DKNG Class A Common Stock Gift $0 -51,557 -1.5% $0.000000 3,487,132 21 Nov 2023 Direct F1
transaction DKNG Class A Common Stock Gift $0 -10,373 -0.3% $0.000000 3,476,759 21 Nov 2023 Direct F1
transaction DKNG Class A Common Stock Options Exercise $940,000 +200,000 +5.8% $4.70* 3,676,759 21 Nov 2023 Direct F2
transaction DKNG Class A Common Stock Sale $7,654,000 -200,000 -5.4% $38.27 3,476,759 21 Nov 2023 Direct F4, F5
transaction DKNG Class A Common Stock Options Exercise +5,849 +0.17% 3,482,608 22 Nov 2023 Direct F3
transaction DKNG Class A Common Stock Tax liability $109,387 -2,828 -0.08% $38.68 3,479,780 22 Nov 2023 Direct
holding DKNG Class A Common Stock 83,000 21 Nov 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 Gift $0 -492,211 -100% $0.000000* 0 21 Nov 2023 Class A Common Stock 492,211 $0.6300 Held by Robins Grantor Retained Annuity Trust 2020 F6, F7, F8
transaction DKNG Stock Option Gift $0 -327,461 -100% $0.000000* 0 21 Nov 2023 Class A Common Stock 327,461 $0.6300 Held by Robins Grantor Retained Annuity Trust 2020 F9, F10
transaction DKNG Stock Option Options Exercise $0 -200,000 -18% $0.000000 896,850 21 Nov 2023 Class A Common Stock 200,000 $4.70 Direct F11
transaction DKNG Restricted Stock Units Options Exercise $0 -5,849 -17% $0.000000 29,246 22 Nov 2023 Class A Common Stock 5,849 Direct F3, F12
holding DKNG Stock Option 400,053 21 Nov 2023 Class A Common Stock 400,053 $0.6300 Direct F6, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents a bona fide gift of the Issuer's Class A Common Stock to a non-profit organization. There was no purchase or sale of shares of Class A Common Stock in connection with the transfer.
F2 The Reporting Person acquired shares of Class A Common Stock of the Issuer after the exercise of stock options and paid the aggregate exercise price and the tax withholdings in cash.
F3 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 5,849 shares of Class A Common Stock underlying the RSUs listed in Table II, and 2,828 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.
F4 The reported sales were 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.
F5 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $37.93 to $38.88, 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 this footnote 5 to this Form 4.
F6 These stock options were granted on March 24, 2016. As of the date hereof, all of such remaining stock options have vested.
F7 Represents a bona fide gift of 492,211 stock options previously reported as indirectly held by the Robins Grantor Retained Annuity Trust of 2020 to the Robins Family 2020 Irrevocable Trust. There was no purchase or sale of shares of Class A Common Stock or stock options in connection with the transfer.
F8 Reflects the transfer of 400,053 stock options previously reported as indirectly held by the Robins Grantor Retained Annuity Trust of 2020 to the Reporting Person.
F9 These stock options were granted on February 10, 2016. As of the date hereof, all of such remaining stock options have vested. There was no purchase or sale of shares of Class A Common Stock or stock options in connection with the transfer.
F10 Represents a bona fide gift of 327,461 stock options previously reported as indirectly held by the Robins Grantor Retained Annuity Trust of 2020 to the Robins Family 2020 Irrevocable Trust.
F11 These stock options were granted on June 4, 2019. As of the date hereof, all of such remaining stock options have vested.
F12 On February 22, 2021, the Reporting Person was granted 93,586 RSUs vesting quarterly over 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.