R. Stanton Dodge - Jan 22, 2024 Form 4 Insider Report for DraftKings Inc. (DKNG)

Signature
/s/ Faisal Hasan, attorney-in-fact
Stock symbol
DKNG
Transactions as of
Jan 22, 2024
Transactions value $
-$1,932,996
Form type
4
Date filed
1/24/2024, 08:03 PM
Previous filing
Jan 3, 2024
Next filing
Feb 9, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DKNG Class A Common Stock Options Exercise $156K +52.8K +6.36% $2.95* 883K Jan 22, 2024 Direct F1
transaction DKNG Class A Common Stock Sale -$2M -52.8K -5.98% $37.82 830K Jan 22, 2024 Direct F2, F3
transaction DKNG Class A Common Stock Options Exercise +3.57K +0.43% 834K Jan 23, 2024 Direct F4
transaction DKNG Class A Common Stock Tax liability -$59.8K -1.56K -0.19% $38.29 832K Jan 23, 2024 Direct
transaction DKNG Class A Common Stock Options Exercise +1.96K +0.24% 834K Jan 23, 2024 Direct F5
transaction DKNG Class A Common Stock Tax liability -$32.9K -858 -0.1% $38.29 834K Jan 23, 2024 Direct

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 -52.8K -12.56% $0.00 368K Jan 22, 2024 Class A Common Stock 52.8K $2.95 Direct F6
transaction DKNG Restricted Stock Units Options Exercise $0 -3.57K -50.01% $0.00 3.57K Jan 23, 2024 Class A Common Stock 3.57K Direct F4, F7
transaction DKNG Restricted Stock Units Options Exercise $0 -1.96K -25% $0.00 5.88K Jan 23, 2024 Class A Common Stock 1.96K Direct F5, F8
* 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 upon the exercise of stock options and payment of 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 26, 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 $37.43 to $38.39, 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 3,566 shares of Class A Common Stock underlying the RSUs listed in Table II, and 1,562 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 No shares of Class A Common Stock were transferred or sold upon the vesting of the RSUs other than to the Issuer to satisfy withholding taxes. The Reporting Person received the net of the 1,961 shares of Class A Common Stock underlying the RSUs listed in Table II, and 858 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.
F6 These stock options were granted on November 7, 2017. As of the date hereof, all such remaining stock options have vested.
F7 On August 11, 2020, the Reporting Person was granted 57,045 RSUs, vesting quarterly over 4 years from April 23, 2020, with any RSUs scheduled to vest before September 12, 2020 vesting on September 12, 2020 and the vesting of the remaining RSUs occurring on October 23, 2020 and each quarter thereafter.
F8 On April 28, 2023, the Reporting Person was granted 9,412 RSUs vesting in equal monthly installments over one (1) year from April 23, 2023. Further, on April 28, 2023, the vesting terms of an additional 14,119 RSUs previously granted to the Reporting Person on February 13, 2023 were amended to provide that such RSUs will vest on the same schedule.