[Form 4] DraftKings Inc. Insider Trading Activity
Rhea-AI Filing Summary
DraftKings Inc. director and officer Paul Liberman, through family trusts, exercised stock options and sold the resulting shares. On March 11, 2026, trusts exercised options for 484,417 shares of Class A Common Stock at an exercise price of $0.63 per share, with the exercise price and tax withholdings paid in cash.
The same day, those 484,417 shares were sold in open-market transactions at a weighted average price of about $25.16 per share, under a pre-arranged Rule 10b5-1 trading plan adopted on March 6, 2025. The filing shows Liberman continues to hold significant indirect and direct positions, including 1,669,955 shares in the Paul Liberman 2015 Revocable Trust, 213,597 shares in the Paul Liberman 2020 Irrevocable Trust, and 69,319 shares held directly.
Positive
- None.
Negative
- None.
Insights
Liberman completes option exercise-and-sell under a 10b5-1 plan while retaining sizable DraftKings exposure.
The transactions combine an option exercise with immediate sales. Trusts associated with Paul Liberman exercised options for 484,417 shares at an exercise price of $0.63, then sold the same number of shares around $25.16 per share. Footnotes confirm the exercise cost and tax withholdings were paid in cash.
The sales were executed under a pre-arranged Rule 10b5-1 plan adopted on March 6, 2025, indicating these were scheduled liquidity events rather than ad hoc market-timed trades. After these moves, Liberman-associated trusts and his direct account still report hundreds of thousands of DraftKings shares, so the filing reflects portfolio rebalancing more than an exit.
Insider Trade Summary 10b5-1
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Options | 430,547 | $0.00 | -- |
| Exercise | Stock Options | 53,870 | $0.00 | -- |
| Exercise | Class A Common Stock | 430,547 | $0.63 | $271K |
| Sale | Class A Common Stock | 430,547 | $25.16 | $10.83M |
| Exercise | Class A Common Stock | 53,870 | $0.63 | $34K |
| Sale | Class A Common Stock | 53,870 | $25.16 | $1.36M |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Footnotes (1)
- The Reporting Person acquired shares of Class A Common Stock of the Issuer upon the exercise of stock options and paid the aggregate exercise price and the tax withholdings in cash. The reported sales were made pursuant to a pre-arranged program for selling shares of Class A Common Stock adopted on March 6, 2025 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 $24.65 to $25.57, 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 $24.66 to $25.57, inclusive. See the last sentence of footnote 3 to this Form 4 above. These stock options were granted on March 24, 2016. As of the date hereof, all such remaining stock options have vested.
