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Filing Details

Accession Number:: 0001104659-24-127732
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2024-12-11 21:50:11
Reporting Period:: 2024-12-09

Accepted Time:: 2024-12-11 21:50:11
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
1404430	Stanton R Dodge	C/O Draftkings Inc. 222 Berkeley Street, 5Th Floor Boston MA 02116	Chief Legal 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	2024-12-09	314,807	$2.95	605,380	No	4	M	Direct
Class A Common Stock	Acquisiton	2024-12-09	165,000	$2.95	770,380	No	4	M	Direct
Class A Common Stock	Disposition	2024-12-09	228,496	$42.74	541,884	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	M	Direct
No	4	S	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	Stock Option	Disposition	2024-12-09	314,807	$0.00	314,807	$2.95
Class A Common Stock	Stock Option	Disposition	2024-12-09	165,000	$0.00	165,000	$2.95
Class A Common Stock	Forward Sale Contract (obligation to sell)	Acquisiton	2024-12-09	500,000	$0.00	500,000	$0.00

Remaning Holdings	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0	2027-11-07	No	4	M	Direct
1,649,400	2027-11-02	No	4	M	Direct
500,000		Yes	4	J	Direct

Footnotes

The Reporting Person acquired shares of Class A Common Stock of the Issuer upon the exercise of stock options.
Represents the number of shares required to be sold by the Reporting Person to fund the option exercise price and related tax obligations.
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.
These stock options were granted on November 7, 2017. As of the date hereof, all such remaining stock options have vested.
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.
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)
(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.