[Form 4] Karman Holdings Inc. Insider Trading Activity

Rhea-AI Filing Summary

DraftKings Inc. (DKNG) – Form 4

Chief Legal Officer Dodge R. Stanton reported routine equity-compensation activity dated 08/01/2025. A total of 808 Class A shares were issued upon the vesting of restricted stock units (RSUs). To cover withholding taxes, 354 shares were automatically surrendered to the issuer at $43.73, resulting in a net addition of 454 shares. Direct ownership now stands at 500,454 Class A shares. Table II shows 5,653 RSUs still outstanding from a 9,692-unit grant awarded on 02/10/2025 that vests monthly over one year.

The filing involves no open-market transaction and reflects standard payroll-tax withholding. Given the small size relative to DraftKings’ public float and the administrative nature of the event, investor impact is expected to be minimal.

Positive

• Insider equity alignment: the Chief Legal Officer increased direct ownership by 454 shares, reinforcing management–shareholder alignment.

Negative

• Tax-related share surrender: 354 shares were disposed of to cover withholding taxes, slightly offsetting the gross RSU vesting.

Insights

Securities Analyst

TL;DR: Routine RSU vesting; net +454 DKNG shares, minimal market impact.

This Form 4 details the conversion of 808 RSUs by DraftKings’ Chief Legal Officer, offset by 354 shares surrendered for taxes. Post-transaction holdings rise to 500,454 shares, with 5,653 RSUs unvested. The absence of an open-market trade means no immediate supply-demand effect. Volume is immaterial versus the company’s total share count, so the disclosure is neutral for valuation. Nonetheless, continued equity accumulation keeps management incentives aligned with shareholders.

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
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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^*

Stinnett David

(Last) (First) (Middle)

C/O KARMAN HOLDINGS INC.

5351 ARGOSY AVENUE

(Street)

HUNTINGTON BEACH CA 92649

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Karman Holdings Inc. [ KRMN ]

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)
07/25/2025

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
Common Stock	07/25/2025		J(1)		3,501,433	A	$0.00(1)	3,501,433	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. Concurrent with the consummation of the secondary offering by TCFIII Spaceco SPV LP of the Issuer's Common Stock, as previously reported by the Issuer on Form 8-K dated July 23, 2025 (the "Secondary Offering"), TCFIII Spaceco SPV LP effected a distribution in-kind consisting of all shares of Common Stock held by TCFIII Spaceco SPV LP not sold in the Secondary Offering (the "Trive LP Distribution") to Trive Capital Fund III LP ("Trive Fund III") and Trive Capital Fund III-A LP ("Trive Fund III-A") and Trive Fund III and Trive Fund III-A effected a pro rata distribution-in-kind of such shares of Common Stock to its partners for no consideration. In the distribution in-kind, the Reporting Person received 3,501,433 shares of Common Stock for no consideration.

	/s/ David Stinnett	08/01/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

How many DraftKings (DKNG) shares did the insider acquire on 08/01/2025?

808 shares were issued from vested RSUs, with 454 shares added net of tax withholding.

What transaction codes appeared in the Form 4 filing?

Code M for RSU conversion and F for shares withheld to pay taxes.

How many DraftKings shares does Dodge R. Stanton own after the transaction?

He now directly owns 500,454 Class A shares.

Were any shares sold on the open market?

No. Shares were withheld by the issuer solely to satisfy tax obligations; no open-market sale occurred.

How many restricted stock units remain outstanding for the insider?

Stanton still holds 5,653 RSUs from the February 10 2025 grant.