DraftKings (NASDAQ: DKNG) officer updates holdings after RSU vesting, tax withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
DraftKings Inc. director and officer Paul Liberman reported routine equity compensation activity involving restricted stock units (RSUs) that vested on June 1, 2026. He exercised RSUs to acquire a total of 72,860 shares of Class A Common Stock and the issuer withheld 35,230 shares at $26.33 per share to cover tax obligations, consistent with the Form 4 tax-withholding entries.
According to the filing, no shares were transferred or sold in the market upon RSU vesting other than shares withheld by DraftKings to satisfy taxes. Following these transactions, Liberman directly owns 80,712 shares of Class A Common Stock. He also has indirect ownership through several trusts, including 1,669,955 shares held by the Paul Liberman 2015 Revocable Trust and additional Class A holdings in other revocable, irrevocable, and grantor retained annuity trusts.
Positive
- None.
Negative
- None.
Insider Trade Summary
72,860 shares exercised/converted
Mixed
17 txns
Insider
Liberman Paul
Role
See Remarks
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 22,059 | $0.00 | -- |
| Exercise | Restricted Stock Units | 9,650 | $0.00 | -- |
| Exercise | Restricted Stock Units | 7,951 | $0.00 | -- |
| Exercise | Restricted Stock Units | 33,200 | $0.00 | -- |
| Exercise | Class A Common Stock | 22,059 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 10,666 | $26.33 | $281K |
| Exercise | Class A Common Stock | 9,650 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 4,666 | $26.33 | $123K |
| Exercise | Class A Common Stock | 7,951 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 3,845 | $26.33 | $101K |
| Exercise | Class A Common Stock | 33,200 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 16,053 | $26.33 | $423K |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 66,176 shares (Direct, null);
Class A Common Stock — 91,378 shares (Direct, null);
Class A Common Stock — 1,669,955 shares (Indirect, Held by the Paul Liberman 2015 Revocable Trust)
Footnotes (1)
- No shares of Class A Common Stock were transferred or sold upon the vesting of the restricted stock units ("RSUs") other than to the Issuer to satisfy withholding taxes. The Reporting Person received the net of the 22,059 shares of Class A Common Stock underlying the RSUs listed in Table II, and 10,666 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. 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 9,650 shares of Class A Common Stock underlying the RSUs listed in Table II, and 4,666 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. 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 7,951 shares of Class A Common Stock underlying the RSUs listed in Table II, and 3,845 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. 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 33,200 shares of Class A Common Stock underlying the RSUs listed in Table II, and 16,053 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 13, 2023, the Reporting Person was granted 352,941 RSUs vesting quarterly over four (4) years from March 1, 2023. On February 12, 2024, the Reporting Person was granted 154,392 RSUs vesting quarterly over four (4) years from March 1, 2024. On February 10, 2025, the Reporting Person was granted 127,211 RSUs vesting quarterly over four (4) years from March 1, 2025. On February 17, 2026, the Reporting Person was granted 531,208 RSUs vesting quarterly over four (4) years from March 1, 2026.
Key Figures
RSU exercises: 72,860 shares
Tax-withholding shares: 35,230 shares
Tax-withholding price: $26.33 per share
+4 more
7 metrics
RSU exercises
72,860 shares
Total underlying Class A shares from RSU exercises on June 1, 2026
Tax-withholding shares
35,230 shares
Shares delivered to DraftKings at $26.33 to cover RSU taxes
Tax-withholding price
$26.33 per share
Price applied to F-code tax-withholding dispositions
Direct holdings after transactions
80,712 shares
Class A Common Stock directly owned after June 1, 2026 activity
Paul Liberman 2015 Revocable Trust
1,669,955 shares
Class A Common Stock held indirectly via revocable trust
Paul Liberman 2020 Irrevocable Trust
213,597 shares
Class A Common Stock held indirectly via irrevocable trust
Liberman GRAT 2025
100,000 shares
Class A Common Stock held by Grantor Retained Annuity Trust
Key Terms
Restricted Stock Units, tax-withholding disposition, Grantor Retained Annuity Trust, Revocable Trust, +2 more
6 terms
Restricted Stock Units financial
"No shares of Class A Common Stock were transferred or sold upon the vesting of the restricted stock units ("RSUs")"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
tax-withholding disposition financial
"transaction_action": "tax-withholding disposition""
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
Grantor Retained Annuity Trust financial
"Held by the Liberman Grantor Retained Annuity Trust of 2025"
A grantor retained annuity trust (GRAT) is an estate-planning tool where the person who creates the trust transfers assets into it but receives fixed cash payments (an annuity) from the trust for a set number of years; whatever remains after that term passes to designated beneficiaries. It matters to investors because it can shift future appreciation of assets out of the creator’s taxable estate—like putting an asset into a timed vending machine that pays you fixed amounts while any extra value that grows inside the machine goes to heirs with reduced gift or estate tax consequences.
Revocable Trust financial
"Held by the Paul Liberman 2015 Revocable Trust"
A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.
Irrevocable Trust financial
"Held by the Paul Liberman 2020 Irrevocable Trust"
An irrevocable trust is a legal arrangement where an owner transfers assets into a separate entity managed by a trustee and gives up the power to modify or reclaim those assets. For investors it matters because putting stock or other holdings into such a trust can change who controls and benefits from the assets, affect taxes and creditor protection, and influence how easy it is to sell or value those holdings—like placing valuables in a locked safe overseen by someone else.
Form 4 regulatory
"INSIDER FILING DATA (Form 4):"
Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.
FAQ
What did DraftKings (DKNG) insider Paul Liberman report in this Form 4?
Paul Liberman reported RSU vesting that converted into Class A Common Stock. The issuer withheld some shares to pay taxes, and no open-market sales occurred. The filing updates his direct and indirect DraftKings share ownership positions, including trust-held shares.
What indirect DraftKings (DKNG) holdings are reported for Paul Liberman?
The Form 4 lists several trusts holding DraftKings Class A shares for Liberman’s benefit. These include 1,669,955 shares in the Paul Liberman 2015 Revocable Trust and additional positions in other revocable, irrevocable, and grantor retained annuity trusts with separate reported share balances.
Are the tax-withholding dispositions in this DraftKings (DKNG) Form 4 market transactions?
No. Dispositions coded “F” represent shares delivered back to DraftKings to satisfy tax liabilities on RSU vesting. The footnotes clarify that no shares were transferred or sold, other than those withheld by the issuer, meaning they are not open-market sales.