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DKNG Chief Legal Officer reports routine RSU conversion in Form 4

Filing Impact
(Neutral)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

DraftKings Inc. (DKNG) – Form 4 insider filing

Chief Legal Officer R. Stanton Dodge reported routine equity-compensation activity dated July 1, 2025. He acquired 808 Class A shares through the conversion of restricted stock units (code M) and concurrently disposed of 354 shares (code F) that were automatically withheld to cover taxes. The net addition of 454 shares lifts his direct holdings to 505,189 Class A shares. No open-market purchases or sales occurred.

The filing also shows 6,461 unvested RSUs remaining from a 9,692-unit grant awarded on Feb 10, 2025, which vests monthly over one year starting March 1, 2025. Given DraftKings’ share count, the transactions represent well under 0.1 % of outstanding shares and appear immaterial to public float or insider sentiment.

Positive

  • None.

Negative

  • None.

Insights

TL;DR Routine RSU vesting; negligible impact on DKNG share supply.

The Form 4 records compensation-related share issuance and tax withholding—standard practice for senior executives. Net 454 shares added is inconsequential versus both Dodge’s existing 0.5 M-share stake and DraftKings’ overall float. No cash transactions or directional trading cues are present. I view the event as neutral for valuation and sentiment.

TL;DR Standard Section 16 filing; no governance red flags detected.

The disclosure complies with Section 16 timing and accurately separates ‘M’ and ‘F’ codes. Withholding shares for taxes is common and avoids market sales that could signal insider pessimism. Remaining 6,461 RSUs align with a typical 12-month vesting schedule. Overall, the filing indicates ordinary-course executive compensation, carrying neutral governance implications.

Insider Dodge R Stanton
Role Chief Legal Officer
Type Security Shares Price Value
Exercise Restricted Stock Units 808 $0.00 --
Exercise Class A Common Stock 808 $0.00 --
Tax Withholding Class A Common Stock 354 $41.99 $15K
Holdings After Transaction: Restricted Stock Units — 6,461 shares (Direct); Class A Common Stock — 505,189 shares (Direct)
Footnotes (1)
  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 808 shares of Class A Common Stock underlying the RSUs listed in Table II, and 354 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 10, 2025, the Reporting Person was granted 9,692 RSUs vesting monthly over one (1) year from March 1, 2025.
Form 4 Insider Transactions: What Each Field Means →
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).
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*
Dodge R Stanton
(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 Legal Officer
3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025
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 07/01/2025 M 808 A (1) 505,189 D
Class A Common Stock 07/01/2025 F 354 D $41.99 504,835 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
Restricted Stock Units (1) 07/01/2025 M 808 (2) (2) Class A Common Stock 808 $0.00 6,461 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 808 shares of Class A Common Stock underlying the RSUs listed in Table II, and 354 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 10, 2025, the Reporting Person was granted 9,692 RSUs vesting monthly over one (1) year from March 1, 2025.
/s/ Faisal Hasan, attorney-in-fact 07/03/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What did DraftKings (DKNG) insider R. Stanton Dodge report in the Form 4?

He converted 808 RSUs into Class A shares and had 354 shares withheld for taxes, resulting in a net gain of 454 shares.

How many DraftKings shares does Dodge own after the reported transactions?

His direct ownership stands at 505,189 Class A shares.

Did the insider buy or sell DraftKings shares on the open market?

No. All movements were internal equity-compensation events; no open-market trades occurred.

How many restricted stock units remain unvested for the insider?

Dodge retains 6,461 RSUs from the original 9,692-unit grant.

When were the remaining RSUs granted and how do they vest?

The RSUs were granted on Feb 10, 2025 and vest monthly over one year beginning Mar 1, 2025.

What is the transaction code ‘F’ shown in the filing?

Code F indicates shares withheld by the issuer solely to pay tax obligations upon vesting.