DKNG Insider Filing: 97,593 Option Shares Exercised; 105,554 Shares Sold
Rhea-AI Filing Summary
Dodge R. Stanton, Chief Legal Officer of DraftKings Inc. (DKNG), reported multiple transactions on 09/01/2025–09/02/2025 including RSU vestings, option exercise and pre-arranged sales under a Rule 10b5-1 plan. He received net shares from RSU vestings totaling 21,658 shares (11,029 + 4,825 + 4,996 + 808 net recipients noted) and exercised 97,593 stock options for cash at an exercise price of $2.95, acquiring 97,593 shares. Concurrently, he sold 105,554 shares under a 10b5-1 program (31,292 at a weighted average ~$47.06 and 74,262 at a weighted average ~$47.50). After these transactions the Form 4 shows beneficial ownership of 512,181 Class A shares.
Positive
- RSU vestings delivered net equity to the reporting person (11,029; 4,825; 4,996; 808 net shares respectively)
- Option exercise of 97,593 shares at a low $2.95 strike demonstrates long‑term incentive realization
- Sales conducted pursuant to a Rule 10b5-1 plan, indicating pre-arranged, non-opportunistic dispositions
Negative
- Significant sales of 105,554 shares (31,292 and 74,262) reduced beneficial ownership and may be viewed as liquidity-taking
- Weighted average sale prices in the disclosures (~$47.06 and ~$47.50) show material proceeds that change insider stake
Insights
TL;DR: Insider received vested compensation and exercised options while executing planned sales under a 10b5-1 program.
The filings indicate routine compensation-related activity: RSU vestings and the cash exercise of long‑dated options. The sales were conducted pursuant to a pre-established Rule 10b5-1 plan adopted December 13, 2024, which reduces concerns about opportunistic timing. The net effect lowered the reporting person's holdings but is consistent with typical executive liquidity management following vesting and exercise events.
TL;DR: Material share movement occurred but no new information about company performance is disclosed.
The reporting shows 97,593 shares acquired via option exercise at a $2.95 strike and sales of 105,554 shares at weighted prices in the mid‑$40s, which generated gross proceeds based on the disclosed weighted averages. These transactions reflect personal liquidity and compensation realization rather than a company operational disclosure; investors should note the change in insider holdings but not interpret it as a company update.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Class A Common Stock | 97,593 | $2.95 | $288K |
| Sale | Class A Common Stock | 31,292 | $47.06 | $1.47M |
| Sale | Class A Common Stock | 74,262 | $47.50 | $3.53M |
| Exercise | Restricted Stock Units | 11,029 | $0.00 | -- |
| Exercise | Restricted Stock Units | 4,825 | $0.00 | -- |
| Exercise | Restricted Stock Units | 4,996 | $0.00 | -- |
| Exercise | Restricted Stock Units | 808 | $0.00 | -- |
| Exercise | Stock Option | 97,593 | $0.00 | -- |
| Exercise | Class A Common Stock | 11,029 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 4,826 | $47.98 | $232K |
| Exercise | Class A Common Stock | 4,825 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 2,111 | $47.98 | $101K |
| Exercise | Class A Common Stock | 4,996 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 2,187 | $47.98 | $105K |
| Exercise | Class A Common Stock | 808 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 353 | $47.98 | $17K |
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 11,029 shares of Class A Common Stock underlying the RSUs listed in Table II, and 4,826 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 4,825 shares of Class A Common Stock underlying the RSUs listed in Table II, and 2,111 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 4,996 shares of Class A Common Stock underlying the RSUs listed in Table II, and 2,187 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 808 shares of Class A Common Stock underlying the RSUs listed in Table II, and 353 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. 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 $46.18 to $47.17, 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 7 and 8 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 $47.18 to $47.92, inclusive. See the last sentence of footnote 7 to this Form 4 above. On February 13, 2023, the Reporting Person was granted 190,588 RSUs vesting quarterly over four (4) years from March 1, 2023. On April 28, 2023, the vesting terms of 14,119 of such RSUs were amended to provide for vesting in equal monthly installments over one (1) year from April 23, 2023. Accordingly, such 14,119 RSUs are no longer included in the Reporting Person's holdings with respect to the February 13, 2023 grant of 190,588 RSUs. On February 12, 2024, the Reporting Person was granted 77,196 RSUs vesting quarterly over four (4) years from March 1, 2024. On February 10, 2025, the Reporting Person was granted 79,961 RSUs vesting quarterly over four (4) years from March 1, 2025. On February 10, 2025, the Reporting Person was granted 9,692 RSUs vesting monthly over one (1) year from March 1, 2025. These stock options were granted on November 7, 2017. As of the date hereof, all such remaining stock options have vested.
