DKNG insider files Form 144 to sell 76,390 Class A shares via Merrill Lynch

Rhea-AI Filing Summary

DraftKings Inc. (DKNG) filed a Form 144 proposing the sale of 76,390 Class A shares through Merrill Lynch in Boston with an aggregate market value of $3,505,000. The filing reports 496,470,071 shares outstanding and lists the approximate sale date as 08/21/2025. The securities being offered largely originate from restricted stock vesting on multiple dates between 2021 and 2025 and several private placement purchases, with payment types identified as compensation or cash. No sales by the filer in the past three months are reported.

Positive

• Transparent disclosure of the source of shares (restricted stock vesting and private placements) and payment types
• Sale size is small relative to total shares outstanding (approximately 0.015%)
• Use of established broker (Merrill Lynch) indicating orderly market execution

Negative

• Insider is proposing a sale which some investors may view negatively despite small size
• No issuer name provided within the filing tables themselves (relies on metadata for identification)

Insights

Securities Analyst

TL;DR: Small insider sell notice through a major broker; not materially dilutive relative to total shares outstanding.

The filing documents a proposed sale of 76,390 Class A shares valued at $3.505 million via Merrill Lynch on 08/21/2025. Holdings offered derive mainly from periodic restricted stock vesting and a few private placements. Relative to the reported 496.47 million shares outstanding, the proposed sale equals roughly 0.015% of the outstanding share count, indicating limited immediate dilution. The absence of any reported sales in the prior three months suggests this is an isolated planned disposition rather than part of a recent selling pattern.

Corporate Governance Expert

TL;DR: Routine Form 144 disclosure showing insider intent to sell vested equity; procedural compliance appears standard.

The form lists multiple acquisition dates tied to compensation-related restricted stock vesting and two private placement purchases. The filer represents no undisclosed material adverse information. Use of a major broker (Merrill Lynch) and explicit payment origins (compensation or cash) align with routine insider sale procedures and Rule 144 reporting requirements. No additional governance flags or extraordinary transactions are disclosed in the filing.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Class A	Merrill Lynch 100 Federal Street 12th Floor Boston MA 02110	76390	3505000.00	496470071	08/21/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Class A	04/28/2021	Restricted Stock Vesting	Issuer			12412	04/28/2021	Compensation
Class A	05/04/2021	Restricted Stock Vesting	Issuer			277	05/04/2021	Compensation
Class A	04/19/2022	Restricted Stock Vesting	Issuer			4916	04/19/2022	Compensation
Class A	05/16/2022	Restricted Stock Vesting	Issuer			1042	05/16/2022	Compensation
Class A	08/02/2022	Restricted Stock Vesting	Issuer			1179	08/02/2022	Compensation
Class A	11/02/2022	Restricted Stock Vesting	Issuer			1138	11/02/2022	Compensation
Class A	02/14/2023	Restricted Stock Vesting	Issuer			1091	02/14/2023	Compensation
Class A	05/02/2023	Restricted Stock Vesting	Issuer			14164	05/02/2023	Compensation
Class A	08/01/2023	Restricted Stock Vesting	Issuer			574	08/01/2023	Compensation
Class A	10/31/2023	Restricted Stock Vesting	Issuer			656	10/31/2023	Compensation
Class A	02/13/2024	Restricted Stock Vesting	Issuer			424	02/13/2024	Compensation
Class A	04/30/2024	Restricted Stock Vesting	Issuer			436	04/30/2024	Compensation
Class A	05/13/2024	Restricted Stock Vesting	Issuer			6339	05/13/2024	Compensation
Class A	07/30/2024	Restricted Stock Vesting	Issuer			505	07/30/2024	Compensation
Class A	11/07/2024	Restricted Stock Vesting	Issuer			464	11/07/2024	Compensation
Class A	02/11/2025	Restricted Stock Vesting	Issuer			417	02/11/2025	Compensation
Class A	05/06/2025	Restricted Stock Vesting	Issuer			539	05/06/2025	Compensation
Class A	05/19/2025	Restricted Stock Vesting	Issuer			6969	05/19/2025	Compensation
Class A	02/27/2025	Private Placement	Issuer			9894	02/27/2025	Cash
Class A	08/24/2021	Private Placement	Issuer			6477	08/24/2021	Cash
Class A	08/25/2021	Private Placement	Issuer			6477	08/25/2021	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does DraftKings' (DKNG) Form 144 report?

The Form 144 reports a proposed sale of 76,390 Class A shares with an aggregate market value of $3,505,000, to be executed through Merrill Lynch on or about 08/21/2025.

How many shares outstanding does the filing show for DKNG?

The filing lists 496,470,071 shares outstanding.

Where did the securities originate according to the filing?

Most securities originated from restricted stock vesting on multiple dates between 2021 and 2025; several lots were acquired via private placements.

Were any sales reported in the past three months by the filer?

No. The filing states Nothing to Report for securities sold during the past three months.

What payment types are listed for the acquisitions?

Payment is identified as Compensation for vested restricted stock and Cash for private placement purchases.