Jason Park - 21 Nov 2023 Form 4 Insider Report for DraftKings Inc. (DKNG)

Role
Chief Financial Officer
Signature
/s/ Faisal Hasan, attorney-in-fact
Issuer symbol
DKNG
Transactions as of
21 Nov 2023
Net transactions value
-$26,390,452
Form type
4
Filing time
24 Nov 2023, 20:03:11 UTC
Previous filing
13 Nov 2023
Next filing
29 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 $1,899,613 +404,173 +114% $4.70* 757,505 21 Nov 2023 Direct F1
transaction DKNG Class A Common Stock Options Exercise $462,178 +97,712 +13% $4.73* 855,217 21 Nov 2023 Direct F1
transaction DKNG Class A Common Stock Sale $28,702,500 -750,000 -88% $38.27 105,217 21 Nov 2023 Direct F2, F3
transaction DKNG Class A Common Stock Options Exercise +2,659 +2.5% 107,876 22 Nov 2023 Direct F4
transaction DKNG Class A Common Stock Tax liability $49,742 -1,286 -1.2% $38.68 106,590 22 Nov 2023 Direct
holding DKNG Class A Common Stock 42,689 21 Nov 2023 Held by Park Family 2022 Grantor Retained Annuity Trust III

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 -404,173 -100% $0.000000* 0 21 Nov 2023 Class A Common Stock 404,173 $4.70 Direct F1, F5
transaction DKNG Stock Option Options Exercise $0 -97,712 -100% $0.000000* 0 21 Nov 2023 Class A Common Stock 97,712 $4.73 Direct F1, F6
transaction DKNG Restricted Stock Units Options Exercise $0 -2,659 -17% $0.000000 13,293 22 Nov 2023 Class A Common Stock 2,659 Direct F4, F7
* 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 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 in cash.
F2 The reported sales were made pursuant to a pre-arranged program for selling shares of Class A Common Stock adopted on August 16, 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 $37.92 to $38.89, 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 3 to this Form 4.
F4 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 2,659 shares of Class A Common Stock underlying the RSUs listed in Table II, and 1,286 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.
F5 These stock options were granted on June 4, 2019. As of the date hereof, these stock options are vested and exercised.
F6 These stock options were granted on August 15, 2019. As of the date hereof, these stock options are vested and exercised.
F7 On February 22, 2021, the Reporting Person was granted 42,539 RSUs vesting quarterly over 4 years.