DraftKings Form 4: CFO RSU Vesting and Tax-Withholding at $47.98

Rhea-AI Filing Summary

DraftKings insider activity: Chief Financial Officer Alan Wayne Ellingson had multiple restricted stock unit (RSU) vestings effective 09/01/2025 that increased his Class A common stock holdings. Net shares delivered from four separate RSU vestings totaled 9,788 shares added to his direct holdings while the issuer withheld 4,734 shares to satisfy taxes. A portion of withheld shares were reported as dispositions at a price of $47.98 per share. After these transactions, the Reporting Person beneficially owned 135,748 Class A shares at latest report.

Positive

• RSU vesting increased executive alignment with 9,788 net shares delivered to the CFO, strengthening insider ownership
• Transparent disclosure of grant origins and tax-withholding in the Form 4, tying each tranche to original grant dates

Negative

• Withholding resulted in dispositions of 4,734 shares reported as sold/withheld at $47.98 per share, slightly reducing net share gain

Insights

Financial Analyst

TL;DR: Routine executive compensation vesting increased CFO ownership while tax withholding generated small reported dispositions at $47.98 per share.

The Form 4 documents scheduled vesting of previously granted RSUs and the net delivery of shares to the CFO, consistent with multi-year retention grants. The transactions include withheld shares of 4,734 to cover taxes, reported as dispositions at $47.98 each, and no open-market sales beyond withholding are shown. This is a standard compensation mechanics event and does not by itself indicate a change in corporate strategy or material liquidity event.

Corporate Governance Expert

TL;DR: Multiple RSU vestings reflect ongoing executive retention; withholding to cover taxes is routine and disclosed properly in Form 4.

The filing ties each RSU tranche to original grant dates and vesting schedules, showing compliance with disclosure obligations. Beneficial ownership rose modestly after vesting. The reporting was signed by an attorney-in-fact and includes clear explanations of withholding. No unusual diversion of shares or atypical related-party transactions are evident from the disclosure provided.

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Ellingson Alan Wayne

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/01/2025

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	09/01/2025		M		1,606	A	(1)	129,737	D
Class A Common Stock	09/01/2025		F		777	D	$47.98	128,960	D
Class A Common Stock	09/01/2025		M		2,140	A	(2)	131,100	D
Class A Common Stock	09/01/2025		F		1,035	D	$47.98	130,065	D
Class A Common Stock	09/01/2025		M		742	A	(3)	130,807	D
Class A Common Stock	09/01/2025		F		359	D	$47.98	130,448	D
Class A Common Stock	09/01/2025		M		5,300	A	(4)	135,748	D
Class A Common Stock	09/01/2025		F		2,563	D	$47.98	133,185	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)	09/01/2025		M			1,606	(5)	(5)	Class A Common Stock	1,606	$0.00	3,213	D
Restricted Stock Units	(2)	09/01/2025		M			2,140	(6)	(6)	Class A Common Stock	2,140	$0.00	12,842	D
Restricted Stock Units	(3)	09/01/2025		M			742	(7)	(7)	Class A Common Stock	742	$0.00	7,417	D
Restricted Stock Units	(4)	09/01/2025		M			5,300	(8)	(8)	Class A Common Stock	5,300	$0.00	74,207	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") other than to the Issuer to satisfy withholding taxes. The Reporting Person received the net of the 1,606 shares of Class A Common Stock underlying the RSUs listed in Table II, and 777 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.

2. 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 2,140 shares of Class A Common Stock underlying the RSUs listed in Table II, and 1,035 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.

3. 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 742 shares of Class A Common Stock underlying the RSUs listed in Table II, and 359 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.

4. 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 5,300 shares of Class A Common Stock underlying the RSUs listed in Table II, and 2,563 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.

5. On March 1, 2022, the Reporting Person was granted 25,703 RSUs vesting quarterly over four (4) years from March 1, 2022.

6. On March 1, 2023, the Reporting Person was granted 34,245 RSUs vesting quarterly over four (4) years from March 1, 2023.

7. On February 16, 2024, the Reporting Person was granted 11,868 RSUs vesting quarterly over four (4) years from March 1, 2024.

8. On February 10, 2025, the Reporting Person was granted 84,807 RSUs vesting quarterly over four (4) years from March 1, 2025.

	/s/ Faisal Hasan, attorney-in-fact	09/03/2025
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transactions did DKNG insider Alan Wayne Ellingson report on Form 4?

The Form 4 reports RSU vestings on 09/01/2025 that delivered net shares to the CFO and withheld 4,734 shares for taxes; some withheld shares are reported at $47.98 per share.

How many DraftKings (DKNG) Class A shares did the CFO own after these transactions?

Following the reported transactions the Reporting Person beneficially owned 135,748 Class A shares.

Were the vested RSUs from recent grants or older grants?

The filing links vested RSUs to grants from March 1, 2022; March 1, 2023; February 16, 2024; and February 10, 2025, with each tranche vesting quarterly over four years.

Did the Form 4 show open-market sales by the CFO?

No open-market sales beyond withholding to satisfy taxes are reported; dispositions reflect shares withheld by the issuer.

At what price were the withheld shares reported?

Withheld shares are reported with a transaction price of $47.98 per share.

Who signed the Form 4 filing for the Reporting Person?

The filing was signed by Faisal Hasan, attorney-in-fact on 09/03/2025.