Form 4 for DKNG DraftKings Inc.
Accepted 2024-12-11 00:00:00 ET · period of report 2024-12-09 · accession 0001104659-24-127732 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2024-12-11 | 2024-12-09 | DKNG | Dodge R Stanton | CLO | S - Sale+OE | $42.74 | -228.5K | 541.9K | -30% | -$9.77M |
| DM | 2024-12-11 | 2024-12-09 | DKNG | Dodge R Stanton | CLO | M - OptEx | $2.95 | +479.8K | 770.4K | +165% | +$1.42M |
| DM | 2024-12-11 | 2024-12-09 | DKNG | Dodge R Stanton | CLO | M - OptEx | $0.00 | -479.8K | 1.65M | -23% | $0 |
| D | 2024-12-11 | 2024-12-09 | DKNG | Dodge R Stanton | CLO | J - Other | — | +500.0K | 500.0K | New | — |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Class A Common Stock | 2024-12-09 | S | D | 228,496 | $42.74 | 541,884 | D | — | — | (F2) Represents the number of shares required to be sold by the Reporting Person to fund the option exercise price and related tax obligations. (F3) The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $42.66 to $42.92, 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. |
| 2 | Common | Class A Common Stock | 2024-12-09 | M | A | 314,807 | $2.95 | 605,380 | D | — | — | (F1) The Reporting Person acquired shares of Class A Common Stock of the Issuer upon the exercise of stock options. |
| 3 | Common | Class A Common Stock | 2024-12-09 | M | A | 165,000 | $2.95 | 770,380 | D | — | — | (F1) The Reporting Person acquired shares of Class A Common Stock of the Issuer upon the exercise of stock options. |
| 4 | Derivative | Stock Option | 2024-12-09 | M | D | 314,807 | $0.00 | 0 | D | $2.95 · — to 2027-11-07 | 314,807 Class A Common Stock | (F4) These stock options were granted on November 7, 2017. As of the date hereof, all such remaining stock options have vested. |
| 5 | Derivative | Stock Option | 2024-12-09 | M | D | 165,000 | $0.00 | 1,649,400 | D | $2.95 · — to 2027-11-02 | 165,000 Class A Common Stock | (F4) These stock options were granted on November 7, 2017. As of the date hereof, all such remaining stock options have vested. |
| 6 | Derivative | Forward Sale Contract (obligation to sell) | 2024-12-09 | J | A | 500,000 | — | 500,000 | D | — · — to — | 500,000 Class A Common Stock | (F5) On December 9, 2024, the Reporting Person entered into a prepaid variable forward sale contract with an unaffiliated third party buyer. The contract obligates the Reporting Person to deliver to the buyer up to an aggregate 500,000 shares (the "Base Amount") of the Issuer's Class A Common Stock on a settlement date following November 18, 2026 (the "Maturity Date"). In exchange for assuming this obligation, the Reporting Person will receive a cash payment of $17,645,693 by December 10, 2024. The Reporting Person pledged 500,000 shares of the Issuer's Class A Common Stock (the "Pledged Shares") to secure his obligations under the contract, and retained voting rights in the Pledged Shares during the term of the pledge, but is obligated to pay to the buyer the economic benefits of dividends during the term of the pledge. (F7) (Continued from footnote 6 to this Form 4) (b) if the Settlement Price is equal to or greater than the Cap Level on the Maturity Date, the Reporting Person will deliver a number of shares of the Issuer's Class A Common Stock equal to the Base Amount multiplied by a ratio equal to a fraction with a numerator equal to the sum of (A) the Floor Level and (B) the excess, if any, of the Settlement Price over the Cap Level, and a denominator equal to the Settlement Price; and (c) if the Settlement Price is equal to or less than the Floor Level on the Maturity Date, the Reporting Person will deliver a number of shares of the Issuer's Class A Common Stock equal to the Base Amount. (F6) The number of shares of the Issuer's Class A Common Stock to be delivered by the Reporting Person to the buyer on the settlement date is to be generally determined as follows: (a) if the closing price of shares of the Issuer's Class A Common Stock on the Maturity Date (the "Settlement Price") is less than $53.59 ("Cap Level") but greater than $38.46 ("Floor Level"), the Reporting Person will deliver a number of shares of the Issuer's Class A Common Stock equal to the Base Amount multiplied by a ratio equal to the Floor Level divided by the Settlement Price; (continued on footnote 7 to this Form 4) |