Jason Robins - 21 Aug 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
21 Aug 2024
Net transactions value
-$7,024,272
Form type
4
Filing time
23 Aug 2024, 20:03:08 UTC
Previous filing
09 Aug 2024
Next filing
04 Sep 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 Options Exercise $126,000 +200,000 +7.5% $0.6300 2,878,082 21 Aug 2024 Direct F1
transaction DKNG Class A Common Stock Sale $6,457,827 -183,461 -6.4% $35.20 2,694,621 21 Aug 2024 Direct F3, F4
transaction DKNG Class A Common Stock Sale $592,758 -16,539 -0.61% $35.84 2,678,082 21 Aug 2024 Direct F3, F5
transaction DKNG Class A Common Stock Options Exercise +5,849 +0.22% 2,683,931 22 Aug 2024 Direct F2
transaction DKNG Class A Common Stock Tax liability $99,687 -2,828 -0.11% $35.25 2,681,103 22 Aug 2024 Direct
holding DKNG Class A Common Stock 90 21 Aug 2024 Held by Jason Robins Revocable Trust u/d/t January 8, 2014
holding DKNG Class A Common Stock 3,151 21 Aug 2024 Held by Robins Family Trust LLC

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 -200,000 -50% $0.000000 200,053 21 Aug 2024 Class A Common Stock 200,000 $0.6300 Direct F6
transaction DKNG Restricted Stock Units Options Exercise $0 -5,849 -33% $0.000000 11,698 22 Aug 2024 Class A Common Stock 5,849 Direct F2, F7
* 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 paid the aggregate exercise price and the tax withholdings in cash.
F2 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 5,849 shares of Class A Common Stock underlying the RSUs listed in Table II, and 2,828 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.
F3 The reported sales were 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.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $34.73 to $35.72, 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 4 and 5 to this Form 4.
F5 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $35.73 to $35.94, inclusive. See the last sentence of footnote 4 to this Form 4 above.
F6 These stock options were granted on March 24, 2016. As of the date hereof, all of such remaining stock options have vested.
F7 On February 22, 2021, the Reporting Person was granted 93,586 RSUs vesting quarterly over 4 years.

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.