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Filing Details

Accession Number:: 0001104659-23-025482
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2023-02-24 20:03:03
Reporting Period:: 2023-02-21

Accepted Time:: 2023-02-24 20:03:03
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1883685	Draftkings Inc.	DKNG	()	4

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1810235	Jason Park	C/O Draftkings Inc. 222 Berkeley Street, 5Th Floor Boston MA 02116	Chief Financial Officer	No	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Class A Common Stock	Acquisiton	2023-02-21	283,333	$0.00	771,497	No	4	A	Direct
Class A Common Stock	Acquisiton	2023-02-21	127,617	$0.00	899,114	No	4	A	Direct
Class A Common Stock	Disposition	2023-02-21	50,000	$20.27	849,114	No	4	S	Direct
Class A Common Stock	Disposition	2023-02-21	62,575	$20.19	786,539	No	4	S	Direct
Class A Common Stock	Disposition	2023-02-22	179,081	$19.72	607,458	No	4	S	Direct
Class A Common Stock	Disposition	2023-02-22	280	$20.32	607,178	No	4	S	Direct
Class A Common Stock	Acquisiton	2023-02-22	2,659	$0.00	609,837	No	4	M	Direct
Class A Common Stock	Disposition	2023-02-22	1,180	$19.53	608,657	No	4	F	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	A	Direct
No	4	A	Direct
No	4	S	Direct
No	4	S	Direct
No	4	S	Direct
No	4	S	Direct
No	4	M	Direct
No	4	F	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Class A Common Stock	Restricted Stock Units	Disposition	2023-02-22	2,659	$0.00	2,659	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
29,245			No	4	M	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Class A Common Stock	29,174	Indirect	Held by Park Family 2021 Grantor Retained Annuity Trust
Class A Common Stock	100,000	Indirect	Held by Park Family 2022 Grantor Retained Annuity Trust III
Class A Common Stock	70,826	Indirect	Held by Park Family 2022 Grantor Retained Annuity Trust IV
Class A Common Stock	100,000	Indirect	Held by Park Family 2022 Grantor Retained Annuity Trust V

Footnotes

Represents the vesting of the restricted stock units ("RSUs") granted pursuant to the Issuer's 2020 Incentive Award Plan (the "Plan"), which vested upon the achievement of certain performance goals. Each RSU represents a contingent right to receive one share of the Issuer's Class A Common Stock.
Represents the vesting of the performance-based restricted stock units ("PSUs") granted pursuant to the Plan, which vested upon the achievement of certain performance criteria. Each PSU represents a contingent right to receive one share of the Issuer's Class A Common Stock.
The reported sale was made pursuant to a pre-arranged program for selling shares of Class A Common Stock adopted on December 14, 2021 (as amended) pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934.
Represents the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of RSUs and PSUs. The "sell to cover" transactions were effected pursuant to a Rule 10b5-1 trading plan. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $19.31 to $20.31, 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.
Represents the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of RSUs and PSUs. The "sell to cover" transactions were effected pursuant to a Rule 10b5-1 trading plan. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $20.32 to $21.32, inclusive. See the last sentence of footnote 4 to this Form 4 above.
No shares of Class A Common Stock were transferred or sold upon the vesting of the RSUs other than to the Issuer to satisfy withholding taxes. The Reporting Person received the net of the 2,659 shares of Class A Common Stock underlying the RSUs listed in Table II, and 1,180 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.
On February 22, 2021, the Reporting Person was granted 42,539 RSUs vesting quarterly over 4 years.