DKNG Form 4: RSU vesting for Paul Liberman, 13,688 shares withheld

Rhea-AI Filing Summary

Paul Liberman, President, Global Technology and Product at DraftKings (DKNG), reported the vesting of restricted stock units (RSUs). He received the net settlement of 28,309 shares of Class A common stock, while 13,688 shares were withheld by the issuer to satisfy tax withholding at a reported price of $42.88 per share.

The filing lists direct beneficial ownership figures and multiple indirect holdings held in trusts, including entries of 746,176 shares (direct) and indirect trust holdings of 767,722, 213,597, and 200,000 shares. Table II documents the RSU activity and shows related derivative counts; the disclosure notes an original grant of 452,940 RSUs that vest quarterly over four years.

Positive

• 28,309 shares of Class A common stock were delivered to the reporting person through RSU vesting
• Only shares withheld were those 13,688 withheld to satisfy taxes; no open-market sales were reported
• Disclosure shows continued executive ownership and substantial indirect trust holdings, indicating alignment with shareholders

Negative

• 13,688 shares were disposed (withheld) to satisfy taxes at a reported price of $42.88 per share
• The filing does not disclose any open-market purchases that would indicate additional insider buying

Insights

Securities Analyst

TL;DR: Routine executive compensation vesting resulted in a modest net share acquisition after tax withholding; not materially market-moving.

The Form 4 documents the vesting and net settlement of RSUs for a named executive and director. The reporting shows 28,309 shares delivered to the reporting person with 13,688 shares withheld for taxes at $42.88 per share. The amounts are modest relative to a large-cap issuer and represent standard compensation mechanics rather than open-market purchases or sales. The filing also records sizeable indirect trust holdings, which may matter for control or voting analysis but do not change the substance of this compensation-related transfer. Impact rating: 0 (neutral).

Corporate Governance Expert

TL;DR: Vesting aligns the executive with shareholders through ownership, while withheld shares indicate routine tax-related disposition.

The disclosure confirms that RSUs granted previously are vesting according to schedule and that the company withheld shares to satisfy taxes rather than a market sale. The filing identifies the reporting person as both an officer and a director and lists multiple indirect trust holdings totaling material share counts, which is useful for assessing insider alignment and family-held positions. This is a governance- and disclosure-focused event with limited immediate investor impact. Impact rating: 0 (neutral).

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^*

Liberman Paul

(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
X	Officer (give title below)		Other (specify below)
	See Remarks

3. Date of Earliest Transaction (Month/Day/Year)
08/09/2025

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	08/09/2025		M		28,309	A	(1)	746,176	D
Class A Common Stock	08/09/2025		F		13,688	D	$42.88	732,488	D
Class A Common Stock								767,722	I	Held by the Paul Liberman 2015 Revocable Trust
Class A Common Stock								213,597	I	Held by the Paul Liberman 2020 Irrevocable Trust
Class A Common Stock								200,000	I	Held by the Rachel Nager Liberman Irrevocable Trust - 2022

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)	08/09/2025		M			28,309	(2)	(2)	Class A Common Stock	28,309	$0.00	56,617	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 28,309 shares of Class A Common Stock underlying the RSUs listed in Table II, and 13,688 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. On February 9, 2022, the Reporting Person was granted 452,940 RSUs vesting quarterly over four (4) years.

Remarks:

President, Global Technology and Product

	/s/ Faisal Hasan, attorney-in-fact	08/12/2025
	** 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 transactions did Paul Liberman report on the DKNG Form 4?

The Form 4 reports the vesting and net settlement of 28,309 RSU shares to Paul Liberman and the withholding of 13,688 shares to satisfy taxes.

How many shares were withheld for taxes and at what price?

The issuer withheld 13,688 shares to satisfy taxes at a reported withholding price of $42.88 per share.

What total direct and indirect holdings are shown for Paul Liberman in the filing?

The filing lists a direct beneficial ownership entry of 746,176 shares and indirect trust holdings of 767,722, 213,597, and 200,000 shares.

What type of award vested to produce the reported shares?

The reported shares resulted from the vesting of restricted stock units (RSUs); the grant referenced in the disclosure was for 452,940 RSUs granted to vest quarterly over four years.

What is Paul Liberman's role at DraftKings as stated in the Form 4?

The Form 4 identifies the reporting person as President, Global Technology and Product and indicates he is both an officer and a director.