DraftKings Insider Sale: CFO Disposes 5,725 Shares Under 10b5-1 Plan

Rhea-AI Filing Summary

Alan Wayne Ellingson, Chief Financial Officer of DraftKings Inc. (DKNG), sold 5,725 shares of Class A common stock on 08/15/2025 at a price of $43.53 per share. The sale was made pursuant to a pre-arranged Rule 10b5-1 trading plan adopted on November 20, 2024. Following the reported transaction, Mr. Ellingson beneficially owned 172,824 shares of Class A common stock. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person.

Positive

• Transaction executed under a pre-arranged Rule 10b5-1 plan, indicating planning and compliance with insider trading rules
• Form 4 discloses post-transaction ownership (172,824 shares), providing transparency about the reporting person's holdings
• Filing signed by attorney-in-fact, showing formal execution of disclosure

Negative

• Insider disposed of 5,725 shares, reducing beneficial ownership which may be interpreted negatively by some investors
• Sale price of $43.53 could be viewed as a liquidity realization event rather than a retention signal

Insights

Securities Analyst

TL;DR Insider sale was executed under a pre-arranged 10b5-1 plan and reduced the CFO's Class A stake to 172,824 shares.

The reported transaction is a routine disposition under a pre-established Rule 10b5-1 plan dated November 20, 2024. The sale of 5,725 shares at $43.53 is explicitly disclosed, and the filing provides the post-transaction beneficial ownership figure. Because the sale was pre-arranged, it carries limited information about the CFO's current view of DraftKings' near-term prospects. The filing meets Section 16(a) disclosure requirements and is signed by an attorney-in-fact.

Corporate Governance Expert

TL;DR Disclosure shows compliance with insider-trading rules via a documented 10b5-1 plan; transaction appears procedural rather than strategic.

The Form 4 documents a sale pursuant to an established 10b5-1 trading plan, which helps the company and insider demonstrate adherence to insider trading policies. The filing provides clear transaction details including date, price, quantity, and remaining beneficial ownership, and it is properly executed by an attorney-in-fact. There is no additional governance-related information or indications of atypical trading activity in the filing itself.

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).

X

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)
08/15/2025

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	08/15/2025		S(1)		5,725	D	$43.53	172,824	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

Explanation of Responses:

1. The reported sale was made pursuant to a pre-arranged program for selling shares of Class A Common Stock adopted on November 20, 2024 pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934.

	/s/ Faisal Hasan, attorney-in-fact	08/15/2025
	** 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 did DraftKings (DKNG) insider Alan Ellingson report on Form 4?

The Form 4 reports that CFO Alan Ellingson sold 5,725 shares of Class A common stock on 08/15/2025 at $43.53 per share under a 10b5-1 plan.

Was the sale by the DraftKings insider pre-arranged or discretionary?

The sale was executed pursuant to a pre-arranged Rule 10b5-1 trading plan adopted on November 20, 2024.

How many shares does the reporting person own after the transaction?

Following the reported sale, the reporting person beneficially owned 172,824 shares of Class A common stock.

When was the transaction dated on Form 4 for DKNG?

The transaction date reported on the Form 4 is 08/15/2025.

Who signed the Form 4 for the DraftKings insider filing?

The Form 4 was signed by Faisal Hasan, attorney-in-fact, with the signature dated 08/15/2025.