Form 4: DraftKings CEO Jason Robins Reports Stock Transactions
SEC Form 4
DraftKings CEO Jason Robins reports the acquisition and disposal of Class A Common Stock and Restricted Stock Units, along with adjustments to stock option holdings.
Summary
- On February 9, 2025, Jason Robins, CEO and Chairman of the Board of DraftKings Inc., reported transactions involving Class A Common Stock and Restricted Stock Units (RSUs).
- He acquired 38,217 shares of Class A Common Stock through the vesting of RSUs but then disposed of 18,478 shares to cover withholding taxes at a price of $42.28 per share.
- Following these transactions, Robins directly owns 2,678,613 shares of Class A Common Stock and indirectly owns 90 shares through the Jason Robins Revocable Trust.
- He also directly holds 152,867 RSUs and was granted 224,133 RSUs vesting quarterly from March 1, 2025.
- Additionally, there was a transfer of stock options previously held indirectly through the Robins December 2021 Grantor Retained Annuity Trust to Robins directly, with no purchase or sale involved.
- Robins directly holds stock options for 6,512,289 shares and indirectly holds no shares through the Robins December 2021 Grantor Retained Annuity Trust.
Sentiment
Score: 5
Explanation: This is a neutral report of stock transactions. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives of publicly traded companies. It provides transparency into the executive's holdings and transactions in the company's stock.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the overall impact is likely minimal.
Key Dates
| Date | Description |
|---|---|
| January 8, 2014 | Date of Jason Robins Revocable Trust u/d/t |
| May 3, 2017 | Date of grant for some stock options |
| April 18, 2018 | Date of grant for some stock options |
| May 3, 2018 | Date of grant for some stock options |
| December 2021 | Date of Robins December 2021 Grantor Retained Annuity Trust |
| February 9, 2022 | Date of grant for 611,468 RSUs vesting quarterly over four years |
| February 9, 2025 | Date of RSU vesting and stock disposal for tax withholding |
| February 10, 2025 | Date of grant for 224,133 RSUs vesting quarterly from March 1, 2025 |
| February 11, 2025 | Date of filing |
| March 1, 2025 | Start date for quarterly vesting of RSUs granted on February 10, 2025 |
| May 3, 2027 | Expiration date for some stock options |
| April 18, 2028 | Expiration date for some stock options |
| May 3, 2028 | Expiration date for some stock options |
Keywords
DraftKings, Jason Robins, Class A Common Stock, Restricted Stock Units, Stock Options, Beneficial Ownership, SEC Form 4, Insider Trading
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