DKNG Insider Filing: Jason Robins Donates Class A Shares, Retains Large Class B Stake

Rhea-AI Filing Summary

DraftKings Inc. (DKNG) Form 4 shows insider Jason Robins made two gifts of Class A common stock on 08/25/2025, transferring 4,443 shares to a non-profit organization and 5,554 shares to a non-profit educational institution; both transfers were coded as gifts with no cash consideration. After the transactions Robins beneficially owned 3,431,384 and 3,425,830 shares of Class A common stock as reported on separate lines. The filing also reports an indirect holding of 90 Class A shares held by the Jason Robins Revocable Trust dated January 8, 2014. The form identifies Robins as Chief Executive Officer and Chairman and discloses he is the sole holder of 393,013,951 shares of Class B common stock, which are not registered securities. The filing was signed by an attorney-in-fact, Faisal Hasan, on 08/27/2025.

Positive

• Transparent disclosure of charitable gifts under Section 16 filing requirements
• Gifts recorded as bona fide donations with no purchase or sale, per explanations in the filing
• Continued clear reporting of substantial Class B ownership (393,013,951 shares) which clarifies control structure

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Small charitable gifts disclosed; CEO retains concentrated control through large Class B stake.

The reported transfers are documented as bona fide gifts to charitable and educational organizations, reflecting voluntary, non‑remunerative dispositions of Class A shares. The amounts gifted (4,443 and 5,554) are small relative to Robins' total reported holdings. Material governance note: Robins continues to hold a controlling economic/ voting position through 393,013,951 Class B shares, which remain unregistered per the filing. The disclosure is consistent with standard Section 16 reporting and shows third‑party signatory execution.

Securities Analyst

TL;DR: Routine insider gifts with negligible effect on public float; concentration risk unchanged.

Two transactions coded G indicate gifts with $0.00 purchase price and no cash proceeds. Post‑transaction Class A beneficial counts are 3,431,384 and 3,425,830 shares as reported on separate lines, implying only modest reductions in reported Class A holdings. The large unregistered Class B position (393,013,951) remains a dominant ownership factor for valuation and control considerations; however, this Form 4 does not provide price, market impact, or intent beyond the charitable purpose stated.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Robins Jason

(Last) (First) (Middle)

C/O DRAFTKINGS INC.

222 BERKELEY STREET, 5TH FLOOR

(Street)

BOSTON MA 02116

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
DraftKings Inc. [ DKNG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	See Remarks

3. Date of Earliest Transaction (Month/Day/Year)
08/25/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	08/25/2025		G(1)		4,443	D	$0.00	3,431,384	D
Class A Common Stock	08/25/2025		G(2)		5,554	D	$0.00	3,425,830	D
Class A Common Stock								90	I	Held by Jason Robins Revocable Trust u/d/t January 8, 2014

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents a bona fide gift of the Issuer's Class A Common Stock to a non-profit organization. There was no purchase or sale of Class A Common Stock in connection with the transfer.

2. Represents a bona fide gift of the Issuer's Class A Common Stock to a non-profit educational institution. There was no purchase or sale of Class A Common Stock in connection with the transfer.

Remarks:

Chief Executive Officer and Chairman of the Board. In addition, Jason Robins is the sole holder of 393,013,951 shares of Class B Common Stock of the Issuer, which are not registered securities.

	/s/ Faisal Hasan, attorney-in-fact	08/27/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transactions did Jason Robins report on the DKNG Form 4?

On 08/25/2025 Robins reported two gifts of Class A common stock: 4,443 shares to a non-profit and 5,554 shares to a non-profit educational institution, both with $0.00 price.

How many Class A shares did Jason Robins own after the reported transactions?

The filing shows beneficial ownership figures of 3,431,384 and 3,425,830 Class A shares following the respective reported transactions.

Does Jason Robins hold other classes of DraftKings shares?

Yes. The filing discloses Robins is the sole holder of 393,013,951 Class B common shares, which are not registered securities.

Were these transactions sales or gifts according to the filing?

The filing states both transfers were bona fide gifts with no purchase or sale of Class A common stock in connection with the transfers.

Who signed the Form 4 and when?

The form was signed by attorney-in-fact Faisal Hasan on 08/27/2025.