Harry Sloan - 16 Feb 2024 Form 4 Insider Report for DraftKings Inc. (DKNG)

Role
Director
Signature
/s/ Faisal Hasan, attorney-in-fact
Issuer symbol
DKNG
Transactions as of
16 Feb 2024
Net transactions value
-$10,685,412
Form type
4
Filing time
21 Feb 2024, 20:01:26 UTC
Previous filing
14 Feb 2024
Next filing
01 Mar 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DKNG Class A Common Stock Options Exercise +929,099 +524% 1,106,272 16 Feb 2024 Direct F1
transaction DKNG Class A Common Stock Tax liability $10,685,412 -254,354 -23% $42.01 851,918 16 Feb 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 Warrant for Common Stock Options Exercise $0 -929,099 -100% $0.000000* 0 16 Feb 2024 Class A Common Stock 929,099 $11.50 Direct F2
* 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 exchange of warrants for common stock for $11.50 per share on a cashless basis in a private transaction entered into between the Reporting Person and the Issuer. The Reporting Person received the net of 929,099 shares of Class A Common Stock underlying the warrants for common stock listed in Table II, and 254,354 shares of Class A Common Stock withheld by the issuer in consideration of the exercise of the warrants for common stock.
F2 Each warrant to purchase Class A Common Stock is exercisable for one share of Class A Common Stock at an exercise price of $11.50 per share.