Form 4: DraftKings CFO Alan Ellingson Sells Shares Under Pre-Arranged 10b5-1 Plan
SEC Form 4 Filing
DraftKings' Chief Financial Officer, Alan Wayne Ellingson, sold 6,829 shares of Class A Common Stock at $36.77 per share on May 16, 2025, under a pre-arranged trading plan.
Summary
- On May 16, 2025, Alan Wayne Ellingson, the Chief Financial Officer of DraftKings Inc., sold 6,829 shares of Class A Common Stock.
- The sale was executed at a price of $36.77 per share.
- The transaction was conducted under a pre-arranged program adopted on November 20, 2024, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934.
- Following the transaction, Ellingson directly owns 171,268 shares of DraftKings' Class A Common Stock.
Sentiment
Score: 5
Explanation: The document reports a routine transaction (share sale by CFO under a pre-arranged plan). It doesn't inherently indicate positive or negative sentiment.
Industry Context
Sales by company executives are a normal part of corporate governance. The use of a 10b5-1 plan suggests the sale was pre-planned and not based on any inside information.
Stakeholder Impact
- The sale of shares by a company executive can sometimes be perceived negatively by shareholders, but the existence of a pre-arranged trading plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| 2024-11-20 | Date of adoption of the Rule 10b5-1 trading plan. |
| 2025-05-16 | Date of the share sale transaction. |
Keywords
DraftKings, DKNG, Alan Ellingson, CFO, Form 4, Share Sale, 10b5-1 Plan, Securities Exchange Act
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