DKNG executive plans $6.2M stock sale per new Form 144 filing

Rhea-AI Filing Summary

DraftKings Inc. (DKNG) – Form 144 filing overview: The notice discloses a proposed sale of 158,331 Class A common shares by an insider, identified in related tables as Stanton Dodge, through UBS Financial Services. The shares have an aggregate market value of $6.17 million, based on recent market prices, and represent approximately 0.032 % of the company’s 496.3 million shares outstanding.

Details of share origin: The securities to be sold were recently acquired via (i) vesting of 12,182 restricted-stock units on 06/01/2025 and (ii) exercise of 146,149 stock options on 06/18/2025 (cash paid). The proposed sale date is also listed as 06/18/2025, implying an immediate liquidation of newly-acquired equity.

Historical selling activity: During the past three months the same insider executed three separate sales of exactly 52,777 shares each (05/05/2025, 04/21/2025, 06/02/2025) for gross proceeds totaling roughly $5.27 million. Together with the new notice, this brings disclosed sales (actual + proposed) to about $11.4 million within one quarter.

Investor takeaways: • The dollar amount is modest relative to DraftKings’ market capitalization, but the repeated transactions suggest an ongoing divestiture program, possibly under a Rule 10b5-1 trading plan. • No adverse, non-public information is alleged; the signer attests to possessing none. • Because Form 144 is a pre-sale notice, actual execution will depend on market conditions and the insider’s plan. While not automatically negative, recurring insider sales often attract investor scrutiny regarding management’s confidence and valuation views.

Positive

• None.

Negative

• Continued insider selling: Insider seeks to dispose of 158,331 shares after already selling 158,331 shares in the prior three months.
• Potential sentiment drag: Aggregate value of roughly $11 m in recent insider sales may be interpreted as reduced executive confidence, even if plan-driven.

Insights

Securities Analyst

TL;DR: Modest insider sale—~0.03 % of float, $6 m value; continuation of earlier disposals, limited fundamental impact.

The filing signals another tranche of insider selling by DraftKings’ CLO, Stanton Dodge. The 158 k-share block equates to just 0.032 % of outstanding shares and about 0.15 days’ average volume, so technical pressure on DKNG stock should be minimal. However, the pattern—three prior 52,777-share trades plus this notice—indicates a systematic exit of equity worth >$11 m in three months. Investors may watch for further Form 4s confirming execution. The sale follows option exercises and RSU vesting, a typical liquidity event rather than a valuation call. Given the small size relative to the float and lack of new business information, I view the impact on valuation as neutral.

Corporate Governance Expert

TL;DR: Repeated insider sales raise optics issues but appear to follow Rule 10b5-1 safeguards; governance risk low.

Form 144 requires the filer to certify no possession of undisclosed material information. The notice also references potential reliance on a Rule 10b5-1 plan, reducing the risk of opportunistic trading. Volume thresholds are comfortably within Rule 144 limits (the greater of 1 % of outstanding shares or average weekly volume). From a governance standpoint, the transactions look compliant and transparent. Nonetheless, consecutive sales by the same executive can draw attention, and boards often communicate rationale to pre-empt perception risk. Overall governance impact is neutral-to-slightly-negative purely on optics, not on compliance.

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 Common	UBS Financial Services Inc. 11 Madison Avenue 4th Floor New York NY 100010	158331	6174909.00	496285631	06/18/2025	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 Common	06/01/2025	Vesting of Restricted Stock Units	Issuer			12182	06/01/2025	NA
Class A Common	06/18/2025	Exercise of Stock Option	Issuer			146149	06/18/2025	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

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Stanton Dodge c/o 222 BERKELEY STREET Boston MA 02116	Class A Common	05/05/2025	52777	1796296.86
Stanton Dodge c/o 222 BERKELEY STREET Boston MA 02116	Class A Common	04/21/2025	52777	1703805.17
Stanton Dodge c/o 222 Berkeley Street Boston MA 02116	Class A Common	06/02/2025	52777	1767607.28

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

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

How many DraftKings (DKNG) shares are proposed for sale in this Form 144?

158,331 Class A common shares are listed for potential sale.

What is the aggregate market value of the shares covered by the Form 144?

The filing cites an aggregate market value of approximately $6.17 million.

Who is the insider selling DraftKings shares under this notice?

The seller is identified in supporting tables as Stanton Dodge.

What percentage of DraftKings’ outstanding shares does the proposed sale represent?

About 0.032 % of the 496.3 million shares outstanding.

When is the approximate sale date for the shares?

The filing lists 06/18/2025 as the intended sale date.

Through which broker will the DraftKings shares be sold?

Sales are planned through UBS Financial Services Inc. located at 11 Madison Ave, New York.