Form 4 for DKNG DraftKings Inc.
Accepted 2025-05-13 00:00:00 ET · period of report 2025-05-09 · accession 0001104659-25-047999 · 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 | 2025-05-13 | 2025-05-09 | DKNG | Robins Jason | See Remarks, Dir | M - OptEx | — | +38.2K | 3.40M | +1% | — |
| D | 2025-05-13 | 2025-05-09 | DKNG | Robins Jason | See Remarks, Dir | F - Tax | $36.23 | -18.5K | 3.38M | -0.5% | -$669.5K |
| D | 2025-05-13 | 2025-05-12 | DKNG | Robins Jason | See Remarks, Dir | G - Gift | $0.00 | -2,761 | 3.38M | -0.1% | $0 |
| D | 2025-05-13 | 2025-05-09 | DKNG | Robins Jason | See Remarks, Dir | M - OptEx | $0.00 | -38.2K | 114.7K | -25% | $0 |
| D | 2025-05-13 | 2025-05-13 | DKNG | Robins Jason | See Remarks, Dir | J - Other | — | +307.0K | 307.0K | 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 | 2025-05-09 | M | A | 38,217 | — | 3,402,252 | D | — | — | (F1) 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 38,217 shares of Class A Common Stock underlying the RSUs listed in Table II, and 18,478 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. |
| 2 | Common | Class A Common Stock | 2025-05-09 | F | D | 18,478 | $36.23 | 3,383,774 | D | — | — | |
| 3 | Common | Class A Common Stock | 2025-05-12 | G | D | 2,761 | $0.00 | 3,381,013 | D | — | — | |
| 4 | Derivative | Restricted Stock Units | 2025-05-09 | M | D | 38,217 | $0.00 | 114,650 | D | — · — to — | 38,217 Class A Common Stock | (F1) 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 38,217 shares of Class A Common Stock underlying the RSUs listed in Table II, and 18,478 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) On February 9, 2022, the Reporting Person was granted 611,468 RSUs vesting quarterly over four (4) years. |
| 5 | Derivative | Forward Sale Contract (obligation to sell) | 2025-05-13 | J | A | 306,997 | — | 306,997 | D | — · — to — | 306,997 Class A Common Stock | (F4) On May 13, 2025, 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 306,997 shares (the "Base Amount") of the Issuer's Class A Common Stock on a settlement date of May 13, 2030 (the "Maturity Date"). In exchange for assuming this obligation, the Reporting Person will receive a cash payment of $7,359,132.54 on May 14, 2025. The Reporting Person pledged 306,997 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. (F6) (Continued from footnote 5 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. (F5) 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 $76.00 ("Cap Level") but greater than $29.64 ("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 6 to this Form 4) |