DraftKings CEO moves 1.5M options to trust
Rhea-AI Filing Summary
DraftKings Inc. (DKNG) reported that Chief Executive Officer and Chairman Jason Robins re-titled certain vested stock options on Class A Common Stock, transferring 696,850 options with a $4.70 exercise price and 800,000 options with a $3.29 exercise price to the Robins 2026 Grantor Retained Annuity Trust, with no purchase or sale of shares or options in connection with these transfers. Robins also remains the sole holder of 393,013,951 shares of Class B Common Stock, which are not registered securities, and no Rule 10b5-1 trading plan is reported.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
Robins Jason
Role
See Remarks
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Stock Option F1, F2 | -- | -- | -- |
| holding | Stock Option F1, F2 | -- | -- | -- |
| holding | Stock Option F3, F4 | -- | -- | -- |
| holding | Stock Option F3, F4 | -- | -- | -- |
Holdings After Transaction:
Stock Option — 1,496,850 contracts (Indirect, Held by Robins 2026 Grantor Retained Annuity Trust);
Stock Option — 5,712,289 contracts (Direct)
Footnotes (4)
- F1. These stock options were granted on June 4, 2019. As of the date hereof, all such remaining stock options have vested.
- F2. Reflects the transfer of 696,850 stock options previously reported as directly held by the Reporting Person to the Robins 2026 Grantor Retained Annuity Trust. There was no purchase or sale of shares of Class A Common Stock or stock options in connection with the transfer.
- F3. These stock options were granted on May 3, 2018. As of the date hereof, all such remaining stock options have vested.
- F4. Reflects the transfer of 800,000 stock options previously reported as directly held by the Reporting Person to the Robins 2026 Grantor Retained Annuity Trust. There was no purchase or sale of shares of Class A Common Stock or stock options in connection with the transfer.
Key Figures
Options transferred at $4.70 exercise price: 696,850 options
Options transferred at $3.29 exercise price: 800,000 options
Exercise price of 2019 grant options: $4.70 per share
+5 more
8 metrics
Options transferred at $4.70 exercise price
696,850 options
Vested stock options on Class A Common Stock moved to Robins 2026 Grantor Retained Annuity Trust
Options transferred at $3.29 exercise price
800,000 options
Vested stock options on Class A Common Stock moved to Robins 2026 Grantor Retained Annuity Trust
Exercise price of 2019 grant options
$4.70 per share
Stock options granted June 4, 2019, fully vested as of the reporting date
Exercise price of 2018 grant options
$3.29 per share
Stock options granted May 3, 2018, fully vested as of the reporting date
Options remaining at $3.29 exercise price (direct)
5,712,289 options
Directly held stock options on Class A Common Stock at $3.29 exercise price
Indirect options at $4.70 exercise price
696,850 options
Indirectly held through Robins 2026 Grantor Retained Annuity Trust after transfer
Class B Common Stock held
393,013,951 shares
Class B Common Stock held solely by Jason Robins, not registered securities
Option expiration dates
June 4, 2029 and May 3, 2028
Expiration of $4.70 and $3.29 exercise price stock options respectively
Key Terms
Grantor Retained Annuity Trust, Class B Common Stock, stock options, vested
4 terms
Grantor Retained Annuity Trust financial
"Held by Robins 2026 Grantor Retained Annuity Trust"
A grantor retained annuity trust (GRAT) is an estate-planning tool where the person who creates the trust transfers assets into it but receives fixed cash payments (an annuity) from the trust for a set number of years; whatever remains after that term passes to designated beneficiaries. It matters to investors because it can shift future appreciation of assets out of the creator’s taxable estate—like putting an asset into a timed vending machine that pays you fixed amounts while any extra value that grows inside the machine goes to heirs with reduced gift or estate tax consequences.
Class B Common Stock financial
"sole holder of 393,013,951 shares of Class B Common Stock"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
stock options financial
"Reflects the transfer of 800,000 stock options previously reported"
Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.
vested financial
"As of the date hereof, all such remaining stock options have vested"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did DraftKings (DKNG) CEO Jason Robins report in this Form 4?
He reported transfers of 696,850 vested stock options at $4.70 and 800,000 vested stock options at $3.29 exercise price to the Robins 2026 Grantor Retained Annuity Trust, with no purchase or sale of Class A shares or options in these transfers.
Were the DraftKings (DKNG) option transfers under a Rule 10b5-1 plan?
No. The filing’s Rule 10b5-1 checkbox is not marked as being pursuant to such a plan, so no Rule 10b5-1 trading plan is reported in connection with these option transfers.
What are the expiration dates of the DraftKings options mentioned in this Form 4?
The $4.70 exercise price stock options expire on June 4, 2029. The $3.29 exercise price stock options expire on May 3, 2028, according to the derivative holdings data in this filing.
AI-generated analysis. How Rhea-AI works. Not financial advice.
