DKNG insider filing: 278 RSUs vested; 5,562 granted to director

Rhea-AI Filing Summary

Levin Woodrow, a director of DraftKings Inc. (DKNG), received restricted stock unit (RSU) awards on 08/05/2025. The filing discloses a 278-RSU grant issued in lieu of a quarterly cash retainer that became fully vested on that date, and a 5,562-RSU annual equity grant issued the same day. Each RSU represents a contingent right to receive one share of Class A common stock, and the filing states that no shares were transferred or sold upon the vesting.

The Form 4 reports that Woodrow beneficially owns 57,586 shares following the reported transactions and shows indirect holdings of 10 shares held by OneSix Red, LLC and 44,616 shares held by the Levin Family 2015 Irrevocable Trust. The annual RSU grant will vest in full on the earlier of the issuer’s 2026 annual meeting of shareholders or the first anniversary of the grant.

Positive

• 278 RSUs vested as a substitute for a quarterly cash retainer, showing compensation alignment without cash outflow
• 5,562 RSUs granted as the annual equity award with clear vesting terms
• Each RSU equals one share and the filing confirms no shares were transferred or sold upon vesting

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine director equity awards: a small vested retainer RSU plus a standard annual RSU grant, producing limited immediate dilution.

The Form 4 documents a director compensation event rather than a market-moving transaction. A 278-RSU award vested immediately as a cash-retainer substitute while a 5,562-RSU annual grant was issued with time-based vesting tied to the 2026 meeting or one-year anniversary. Each RSU converts to one Class A share and no shares were sold on vesting. The disclosure of direct and indirect holdings (57,586 direct; 10 and 44,616 indirect) provides clarity on total insider economic exposure reported on the form.

Corporate Governance Expert

TL;DR: Compensation governance appears standard: equity retainer and annual grant with typical vesting mechanics; disclosure is complete for these items.

The filing shows standard governance practice of awarding RSUs to board members, including an award in lieu of cash compensation and a customary annual grant. Vesting terms for the annual grant are explicit and time-based, and the filing confirms vested value was not liquidated. Reported indirect holdings by affiliated entities are specified, supporting transparency around beneficial ownership reporting obligations.

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^*

Levin Woodrow

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/05/2025

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	08/05/2025		M		278	A	(1)	57,586	D
Class A Common Stock								10	I	Held by OneSix Red, LLC
Class A Common Stock								44,616	I	Held by Levin Family 2015 Irrevocable Trust

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)(2)	08/05/2025		A		278(3)		(4)	(4)	Class A Common Stock	278	$0.00	278	D
Restricted Stock Units	(1)(2)	08/05/2025		M			278(3)	(4)	(4)	Class A Common Stock	278	$0.00	0	D
Restricted Stock Units	(2)	08/05/2025		A		5,562(5)		(6)	(6)	Class A Common Stock	5,562	$0.00	5,562	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").

2. Each RSU represents a contingent right to receive one share of the Issuer's Class A Common Stock.

3. Represents RSU grant that is being issued in lieu of a quarterly cash retainer.

4. The RSUs were granted and became fully vested on August 5, 2025.

5. Represents annual equity grant.

6. The RSUs were granted on August 5, 2025 and shall vest in full on the earlier of the Issuer's annual meeting of shareholders in 2026 and the first anniversary of the grant date.

	/s/ Faisal Hasan, attorney-in-fact	08/07/2025
	** 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 RSU awards did Levin Woodrow receive in the DKNG Form 4?

The filing shows a 278-RSU award issued in lieu of a quarterly cash retainer that vested on 08/05/2025 and a 5,562-RSU annual grant issued on the same date.

Did any shares get sold or transferred upon vesting of Woodrow's RSUs?

No. The filing explicitly states no shares of Class A common stock were transferred or sold upon the vesting of the RSUs.

How many shares does Levin Woodrow beneficially own after the reported transactions?

The Form 4 reports 57,586 shares beneficially owned following the reported transactions, plus indirect holdings of 10 shares (OneSix Red, LLC) and 44,616 shares (Levin Family 2015 Irrevocable Trust).

What are the vesting terms of the 5,562-RSU annual grant in the filing?

The 5,562-RSU annual grant was issued on 08/05/2025 and will vest in full on the earlier of the issuer's annual meeting of shareholders in 2026 or the first anniversary of the grant date.

What does each RSU represent according to the Form 4?

Each RSU represents a contingent right to receive one share of the issuer's Class A common stock, and the RSUs reported have an effective price of $0.00 in the filing.