DKNG director Steven Murray receives RSUs in lieu of cash

Rhea-AI Filing Summary

Steven Joseph Murray, a director of DraftKings Inc. (DKNG), reported changes in his equity awards. On 08/05/2025 Mr. Murray was issued 458 restricted stock units (RSUs) in lieu of a quarterly cash retainer that became fully vested on that date, and received an annual equity grant of 5,562 RSUs that will vest in full on the earlier of the company’s 2026 annual meeting and the first anniversary of the grant.

The filing states that no shares were transferred or sold upon vesting. Following these reported transactions Mr. Murray beneficially owns 71,315 Class A common shares directly. The RSUs are recorded with a $0.00 price and include both vested and time‑vesting awards.

Positive

• 458 RSUs issued in lieu of a quarterly cash retainer, and those RSUs are explicitly stated as fully vested
• Annual equity grant of 5,562 RSUs disclosed with clear vesting conditions (earlier of 2026 annual meeting or first anniversary)
• Beneficial ownership clearly reported as 71,315 Class A common shares held directly

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine director equity awards and vesting; limited direct market impact.

The Form 4 discloses customary director compensation and vesting activity rather than a market-moving corporate event. The filing shows a grant issued in lieu of a quarterly cash retainer (458 RSUs, vested) and an annual grant (5,562 RSUs, time‑vesting). After these entries the reporting person directly beneficially owns 71,315 Class A shares. From a financial viewpoint this is a compensation/retention disclosure and, absent larger-scale issuance or accelerated vesting tied to corporate actions, is unlikely to materially affect supply-demand dynamics for DKNG equity.

Corporate Governance Expert

TL;DR: Equity-based pay aligns director incentives; disclosure is routine and transparent.

The filing documents standard governance practice: awarding RSUs for cash retainer and as an annual equity grant, with explicit vesting terms (one grant vested immediately; the annual grant vests on the earlier of the 2026 annual meeting or first anniversary). The report also states no shares were sold upon vesting, and beneficial ownership is disclosed as 71,315 shares. This level of detail supports transparency in director remuneration and ownership reporting.

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^*

MURRAY STEVEN JOSEPH

(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		458	A	(1)	71,315	D

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		458(3)		(4)	(4)	Class A Common Stock	458	$0.00	458	D
Restricted Stock Units	(1)(2)	08/05/2025		M			458(3)	(4)	(4)	Class A Common Stock	458	$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

What RSU grants did DraftKings director Steven Murray report on Form 4 (DKNG)?

The filing reports a 458 RSU grant issued in lieu of a quarterly cash retainer that vested on 08/05/2025, and an annual grant of 5,562 RSUs that vests on the earlier of the 2026 annual meeting or the first anniversary of the grant.

How many DraftKings (DKNG) shares does Steven Murray beneficially own after the reported transactions?

Following the reported transactions Mr. Murray is disclosed as a direct beneficial owner of 71,315 Class A common shares.

Were any Class A shares sold or transferred upon RSU vesting according to the Form 4?

No. The filing explicitly states that no shares of Class A Common Stock were transferred or sold upon the vesting of the RSUs.

What are the vesting terms for the 5,562 RSU annual grant reported for DKNG?

The 5,562 RSUs were granted on 08/05/2025 and will vest in full on the earlier of the issuer’s annual meeting in 2026 and the first anniversary of the grant date.

Does the Form 4 show any cash exercise price for the RSUs reported by Steven Murray?

The RSUs are reported with a $0.00 price, consistent with restricted stock unit awards that convert to shares without an exercise payment.