DKNG insider exercises options and executes 10b5-1 sales, retains 500,000 shares
Rhea-AI Filing Summary
DraftKings insider activity by Chief Legal Officer Dodge R Stanton on 08/05/2025: Mr. Stanton exercised stock options to acquire 66,382 shares at an exercise price of $3.29 and 38,718 shares at $2.95. He sold 104,507 shares at a weighted average price of $44.60 (sales ranged $44.00–$44.97) and 1,047 shares at a weighted average price of $45.06 (sales ranged $45.03–$45.13) under a Rule 10b5-1 plan adopted December 13, 2024.
After these transactions the reporting person beneficially owned 500,000 shares of Class A common stock. The exercised options were granted on April 18, 2018 and November 7, 2017, and footnotes state remaining options had vested. The Form 4 was signed by an attorney-in-fact on 08/07/2025.
Positive
- None.
Negative
- None.
Insights
TL;DR Insider exercised vested options and sold about 105,554 shares under a pre-arranged 10b5-1 plan, retaining 500,000 shares.
The exercise of in-the-money options at low exercise prices ($3.29 and $2.95) converted option holdings into Class A shares while a pre-established Rule 10b5-1 plan executed sales of 104,507 and 1,047 shares at weighted averages near $44.60 and $45.06 respectively. These transactions are routine compensation-related exercises and systematic divestitures; the filing does not disclose any company financial metrics or material corporate events that would change an investment thesis.
TL;DR Transactions appear compliant and documented under Rule 10b5-1; exercised options were vested and sales were pre-arranged.
The Form 4 documents option exercises from grants dated 2017 and 2018 and sale activity pursuant to a 10b5-1 program adopted December 13, 2024. Footnotes explicitly disclose weighted average sale price ranges and offer to provide transaction-level details on request, which supports procedural transparency. No departures from standard disclosure practices are evident in the filing.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 66,382 | $0.00 | -- |
| Exercise | Stock Option | 38,718 | $0.00 | -- |
| Exercise | Class A Common Stock | 66,382 | $3.29 | $218K |
| Exercise | Class A Common Stock | 38,718 | $2.95 | $114K |
| Sale | Class A Common Stock | 104,507 | $44.60 | $4.66M |
| Sale | Class A Common Stock | 1,047 | $45.06 | $47K |
Footnotes (1)
- The Reporting Person acquired shares of Class A Common Stock of the Issuer upon the exercise of stock options and payment of the aggregate exercise price in cash. The reported sale was made pursuant to a pre-arranged program for selling shares of Class A Common Stock adopted on December 13, 2024 pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $44.00 to $44.97, inclusive. The Reporting Person has provided to the Issuer, and undertakes to provide any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnotes 3 and 4 to this Form 4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $45.03 to $45.13, inclusive. See the last sentence of footnote 3 to this Form 4 above. These stock options were granted on April 18, 2018. As of the date hereof, all such remaining stock options have vested. These stock options were granted on November 7, 2017. As of the date hereof, all such remaining stock options have vested.
