Form 4: DraftKings CFO Alan Ellingson Reports Stock Transactions
SEC Form 4 Filing
DraftKings' Chief Financial Officer, Alan Wayne Ellingson, reports the vesting of restricted stock units and associated tax withholdings.
Summary
- On March 1, 2025, Alan Wayne Ellingson, the CFO of DraftKings Inc., reported transactions involving Class A Common Stock.
- These transactions involved the vesting of restricted stock units (RSUs) and the subsequent withholding of shares by the issuer to cover tax obligations.
- Ellingson received a net of 1,606, 2,141, and 742 shares of Class A Common Stock from vested RSUs, with 777, 1,036, and 359 shares withheld by DraftKings for taxes, respectively.
- The price per share for the tax withholding was $43.86.
- Following these transactions, Ellingson directly owns 175,871 shares of Class A Common Stock.
- The reported transactions are related to RSUs granted on March 1, 2022 (25,703 RSUs vesting quarterly over four years), March 1, 2023 (34,245 RSUs vesting quarterly over four years), and February 16, 2024 (11,868 RSUs vesting quarterly over four years).
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to executive compensation, with neutral sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
Comparison to Industry Standards
- Executive compensation packages including RSUs are standard practice among publicly listed companies, including DraftKings' competitors like FanDuel (Flutter Entertainment), Penn Entertainment, and Caesars Entertainment.
- The vesting schedules and tax withholding practices are generally consistent with industry norms for equity compensation.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation adjustments.
- Employees holding RSUs are affected by the vesting schedule and tax implications.
Key Dates
| Date | Description |
|---|---|
| 03/01/2022 | Grant date of 25,703 RSUs vesting quarterly over four years. |
| 03/01/2023 | Grant date of 34,245 RSUs vesting quarterly over four years. |
| 02/16/2024 | Grant date of 11,868 RSUs vesting quarterly over four years. |
| 03/01/2025 | Date of reported transactions: vesting of RSUs and tax withholding. |
| 03/04/2025 | Date of Form 4 filing. |
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