DKNG Form 4: Jason Robins Reports RSU Vesting and Withholding at $47.98
Rhea-AI Filing Summary
Jason Robins, Chief Executive Officer and Chairman of DraftKings Inc. (DKNG), reported vesting and withholding transactions for restricted stock units (RSUs) on 09/01/2025. Three RSU grants vested, resulting in the issuance of 37,500, 16,404, and 14,008 shares (totaling 67,912 shares) that converted into Class A common stock. To satisfy withholding taxes, the issuer withheld 18,132, 7,932, and 6,773 shares (total 32,837 shares) which were reported as disposals at $47.98 per share for some withheld tranches. Following these transactions, the reporting person directly beneficially owned between 3,445,198 and 3,467,678 shares of Class A common stock depending on the row reported, and the filing also discloses that Mr. Robins is the sole holder of 393,013,951 shares of Class B common stock (not registered).
Positive
- 67,912 RSUs vested into Class A common stock, increasing direct economic ownership in the issuer
- Continued alignment of CEO compensation with company performance through multi-year RSU grants (2023, 2024, 2025)
Negative
- 32,837 shares were withheld by the issuer to satisfy tax withholding and reported as disposals (some at $47.98 per share)
Insights
TL;DR: CEO received vested RSUs totaling 67,912 shares; some shares were withheld for taxes, reported disposals at $47.98.
This Form 4 discloses standard equity compensation vesting and tax-withholding activity rather than active open-market selling by the CEO. The filing shows three RSU vesting events converting to Class A shares, with 32,837 shares withheld by the issuer to cover taxes, some reported at a price of $47.98 per share. The net effect is an increase in economic interest through newly issued shares offset by withholding; the CEO also retains a large, separate position in Class B shares (393,013,951) which are not registered. For an analyst, these transactions reflect routine compensation mechanics and not a change in strategic ownership.
TL;DR: Transactions reflect routine RSU vesting and tax withholding by the issuer; no governance change or disposal signaling.
The report identifies the reporting person as both CEO and Chairman and documents vesting of previously granted RSUs from 2023, 2024, and 2025 grants. The withheld shares were surrendered to the issuer to satisfy tax obligations, a common administrative action. The filing includes the reporting person’s indirect holdings via a revocable trust and discloses a substantial unregistered Class B stake. There is no indication in this Form 4 of open-market sales, pledges, or transfers that would suggest governance shifts or liquidity events beyond compensation settlement.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 37,500 | $0.00 | -- |
| Exercise | Restricted Stock Units | 16,404 | $0.00 | -- |
| Exercise | Restricted Stock Units | 14,008 | $0.00 | -- |
| Exercise | Class A Common Stock | 37,500 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 18,132 | $47.98 | $870K |
| Exercise | Class A Common Stock | 16,404 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 7,932 | $47.98 | $381K |
| Exercise | Class A Common Stock | 14,008 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 6,773 | $47.98 | $325K |
| holding | Class A Common Stock | -- | -- | -- |
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 37,500 shares of Class A Common Stock underlying the RSUs listed in Table II, and 18,132 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 16,404 shares of Class A Common Stock underlying the RSUs listed in Table II, and 7,932 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 14,008 shares of Class A Common Stock underlying the RSUs listed in Table II, and 6,773 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. On February 13, 2023, the Reporting Person was granted 600,000 RSUs vesting quarterly over four (4) years from March 1, 2023. On February 12, 2024, the Reporting Person was granted 262,467 RSUs vesting quarterly over four (4) years from March 1, 2024. On February 10, 2025, the Reporting Person was granted 224,133 RSUs vesting quarterly over four (4) years from March 1, 2025.
