DKNG.NASDAQDraftkings INC

Form 4: DraftKings Chief Legal Officer Reports Stock Transactions

Sentiment:

SEC Form 4 Filing

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R. Stanton Dodge, Chief Legal Officer of DraftKings, reports the vesting and withholding of Class A Common Stock related to Restricted Stock Units (RSUs).

Summary

  • On June 1, 2024, R. Stanton Dodge, Chief Legal Officer of DraftKings, 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 satisfy tax obligations.
  • Dodge acquired 11,030, 4,824, and 858 shares of Class A Common Stock through RSU vesting.
  • The issuer withheld 4,826, 2,111, and 375 shares of Class A Common Stock at a price of $35.13 to cover withholding taxes.
  • Following these transactions, Dodge directly owns 251,069 shares of Class A Common Stock.
  • Dodge also holds 121,321, 72,372, and 7,720 derivative securities in the form of Restricted Stock Units.

Sentiment

Score: 5

Explanation: This is a neutral report of stock transactions, with no inherent positive or negative sentiment.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.

Key Dates

DateDescription
February 13, 2023Reporting Person was granted 190,588 RSUs vesting quarterly over four (4) years from March 1, 2023.
April 28, 2023The vesting terms of 14,119 of such RSUs were amended to provide for vesting in equal monthly installments over one (1) year from April 23, 2023.
February 12, 2024The Reporting Person was granted 77,196 RSUs vesting quarterly over four (4) years from March 1, 2024.
February 12, 2024The Reporting Person was granted 10,293 RSUs vesting in equal monthly installments over one (1) year from March 1, 2024.
June 01, 2024Date of earliest transaction (RSU vesting and share withholding).
June 04, 2024Date of filing.

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