Jason Robins - 22 Jan 2024 Form 4 Insider Report for DraftKings Inc. (DKNG)

Role
Officer, Director
Signature
/s/ Faisal Hasan, attorney-in-fact
Issuer symbol
DKNG
Transactions as of
22 Jan 2024
Net transactions value
-$7,704,137
Form type
4
Filing time
24 Jan 2024, 20:04:32 UTC
Previous filing
20 Dec 2023
Next filing
09 Feb 2024
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 $7,536,656 -199,277 -5% $37.82 3,816,421 22 Jan 2024 Direct F1, F2
transaction DKNG Class A Common Stock Sale $27,799 -723 -0.02% $38.45 3,815,698 22 Jan 2024 Direct F1, F3
transaction DKNG Class A Common Stock Options Exercise +11,587 +0.3% 3,827,285 23 Jan 2024 Direct F4
transaction DKNG Class A Common Stock Tax liability $139,682 -3,648 -0.1% $38.29 3,823,637 23 Jan 2024 Direct
holding DKNG Class A Common Stock 83,000 22 Jan 2024 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 -11,587 -50% $0.000000 11,587 23 Jan 2024 Class A Common Stock 11,587 Direct F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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.
F2 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 $38.40, 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 2 and 3 to this Form 4.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at a price of $38.45. See the last sentence of footnote 2 to this Form 4 above.
F4 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 11,587 shares of Class A Common Stock underlying the restricted stock units listed in Table II, and 3,648 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.
F5 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.