Form 4: DraftKings Chief Legal Officer Reports Stock Transactions
SEC Form 4 Filing
R. Stanton Dodge, Chief Legal Officer of DraftKings Inc., reports the vesting of restricted stock units and subsequent withholding of shares for taxes.
Summary
- On May 9, 2024, R. Stanton Dodge, the Chief Legal Officer of DraftKings Inc., reported transactions involving Class A Common Stock.
- Specifically, 14,154 Restricted Stock Units (RSUs) vested, resulting in the acquisition of an equivalent number of Class A Common Stock shares.
- However, no shares were sold; instead, 6,193 shares were withheld by DraftKings to satisfy tax obligations.
- Following these transactions, Dodge directly owns 240,294 shares of Class A Common Stock and 99,081 Restricted Stock Units.
- The RSUs were granted on February 9, 2022, and vest quarterly over four years.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure of stock transactions by a company insider, which is common practice for publicly traded companies like DraftKings. It provides transparency into the holdings and transactions of key executives.
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider transactions.
- The transactions have a minor impact on the overall shareholding structure.
Key Dates
| Date | Description |
|---|---|
| 02/09/2022 | Reporting Person was granted 226,470 RSUs vesting quarterly over four (4) years |
| 05/09/2024 | Date of transaction: vesting of 14,154 Restricted Stock Units and withholding of 6,193 shares for taxes. |
| 05/10/2024 | Date of signature on the Form 4 filing. |
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