Paul Liberman - Jun 25, 2024 Form 4 Insider Report for DraftKings Inc. (DKNG)

Signature
/s/ Faisal Hasan, attorney-in-fact
Stock symbol
DKNG
Transactions as of
Jun 25, 2024
Transactions value $
-$25,916,406
Form type
4
Date filed
6/27/2024, 08:01 PM
Previous filing
Jun 4, 2024
Next filing
Jul 17, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DKNG Class A Common Stock Sale -$11.6M -301K -13.13% $38.43 1.99M Jun 25, 2024 Held by the Paul Liberman 2015 Revocable Trust F1, F2
transaction DKNG Class A Common Stock Sale -$11.7M -299K -15.04% $39.25 1.69M Jun 25, 2024 Held by the Paul Liberman 2015 Revocable Trust F1, F3
transaction DKNG Class A Common Stock Sale -$1.72M -44.8K -16.3% $38.43 230K Jun 25, 2024 Held by the Paul Liberman 2020 Trust F1, F4
transaction DKNG Class A Common Stock Sale -$939K -23.9K -10.39% $39.32 206K Jun 25, 2024 Held by the Paul Liberman 2020 Trust F1, F5
transaction DKNG Class A Common Stock Options Exercise $55.7K +88.4K +5.23% $0.63* 1.78M Jun 26, 2024 Held by the Paul Liberman 2015 Revocable Trust F6
holding DKNG Class A Common Stock 780K Jun 25, 2024 Direct
holding DKNG Class A Common Stock 214K Jun 25, 2024 Held by the Paul Liberman 2020 Irrevocable Trust
holding DKNG Class A Common Stock 200K Jun 25, 2024 Held by the Rachel Nager Liberman Irrevocable Trust - 2022

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 -88.4K -100% $0.00* 0 Jun 26, 2024 Class A Common Stock 88.4K $0.63 Held by the Paul Liberman 2015 Revocable Trust F7
holding DKNG Stock Option 74.1K Jun 25, 2024 Class A Common Stock 88.4K $0.63 Direct F7, F8
holding DKNG Stock Option 88.4K Jun 25, 2024 Class A Common Stock 88.4K $0.63 Held by the Paul Liberman 2015 Revocable Trust F7, F8
* 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 reported sales were made pursuant to a pre-arranged program for selling shares of Class A Common Stock adopted on March 5, 2024 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 $37.98 to $38.97, 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, 3, 4 and 5 to this Form 4.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $38.98 to $39.80, inclusive. See the last sentence of footnote 2 to this Form 4 above.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $37.98 to $38.95, inclusive. See the last sentence of footnote 2 to this Form 4 above.
F5 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $38.99 to $39.80, inclusive. See the last sentence of footnote 2 to this Form 4 above.
F6 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.
F7 These stock options were granted on February 10, 2016. As of the date hereof, all such remaining stock options have vested.
F8 88,441 stock options previously reported as held directly by the Reporting Person. There was no purchase or sale in connection with the transfer to the trust.

Remarks:

President, Global Technology and Product