DraftKings Form 4: Routine RSU Grants to Director Jocelyn Moore

Rhea-AI Filing Summary

Director Jocelyn Moore filed a Form 4 disclosing modest equity activity in DraftKings (DKNG) on 08/05/2025. She exercised 375 previously-granted RSUs (code M) and received the same number of Class A shares, lifting her direct common-stock holdings to 6,322 shares. Separately, she accepted two new RSU awards: (i) 375 fully-vested units issued in lieu of a quarterly cash retainer, and (ii) an annual equity grant of 5,562 RSUs that will vest in full at the 2026 shareholders’ meeting or on the one-year anniversary of the grant, whichever comes first. After the transactions Moore controls 25,648 shares indirectly via The Mustard Seed Living Trust and 5,562 unvested RSUs. No open-market purchases or sales occurred; all activity reflects routine director compensation. Given DraftKings’ market capitalization, the share counts are immaterial to valuation and signal neither bullish nor bearish sentiment.

Insights

Corporate Governance Expert

TL;DR: Routine director equity grant; no market signal, minimal dilution.

These Form 4 entries represent standard board compensation mechanisms. The 5,562 RSUs equal roughly $180k (assuming $32 share price), aligning with peer-group director pay. Immediate vesting of the 375-unit retainer keeps cash outflows low and better aligns the director with shareholders. No sale indicates continued board alignment. The grant is non-dilutive at 0.002% of DKNG’s outstanding shares and should not affect float or EPS. Overall governance practice remains conventional and shareholder-friendly.

Portfolio Manager

TL;DR: Insignificant position change; neutral for trading decisions.

The net addition of 375 shares and 5,562 unvested RSUs is too small to influence liquidity or signal insider conviction. With DKNG’s daily volume exceeding 10 million shares, the transaction is noise. I view it as administrative rather than informative; therefore, it doesn’t alter my position sizing or risk model.

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

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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^*

Moore Jocelyn

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/05/2025

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	08/05/2025		M		375	A	(1)	6,322	D
Class A Common Stock								25,648	I	The Mustard Seed Living Trust

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
Restricted Stock Units	(1)(2)	08/05/2025		A		375(3)		(4)	(4)	Class A Common Stock	375	$0.00	375	D
Restricted Stock Units	(1)(2)	08/05/2025		M			375(3)	(4)	(4)	Class A Common Stock	375	$0.00	0	D
Restricted Stock Units	(2)	08/05/2025		A		5,562(5)		(6)	(6)	Class A Common Stock	5,562	$0.00	5,562	D

Explanation of Responses:

1. No shares of Class A Common Stock were transferred or sold upon the vesting of the restricted stock units ("RSUs").

2. Each RSU represents a contingent right to receive one share of the Issuer's Class A Common Stock.

3. Represents RSU grant that is being issued in lieu of a quarterly cash retainer.

4. The RSUs were granted and became fully vested on August 5, 2025.

5. Represents annual equity grant.

6. The RSUs were granted on August 5, 2025 and shall vest in full on the earlier of the Issuer's annual meeting of shareholders in 2026 and the first anniversary of the grant date.

	/s/ Faisal Hasan, attorney-in-fact	08/07/2025
	** 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.
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FAQ

How many DraftKings (DKNG) shares did Director Jocelyn Moore acquire on 08/05/2025?

She acquired 375 Class A shares through the vesting of restricted stock units.

What new RSU grants did the DraftKings director receive?

Moore received 375 fully-vested RSUs in lieu of cash and an annual grant of 5,562 RSUs vesting by the 2026 shareholder meeting.

What is Director Moore’s total direct ownership after the filing?

She directly owns 6,322 shares and holds 5,562 unvested RSUs.

Did the Form 4 report any open-market sales of DKNG stock?

No. All transactions were equity grants or vesting events; no shares were sold.

What does transaction code "M" mean on Form 4?

Code M denotes the conversion of a derivative security, such as an RSU, into common stock.