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 associated tax withholding.
Summary
- On May 1, 2024, R. Stanton Dodge, the Chief Legal Officer of DraftKings Inc., reported transactions involving Class A Common Stock.
- 858 Restricted Stock Units (RSUs) vested, resulting in the acquisition of 858 shares of Class A Common Stock.
- 376 shares were withheld by the Issuer to satisfy withholding taxes at a price of $41.82 per share.
- The reporting person now beneficially owns 232,333 shares of Class A Common Stock directly.
- The RSUs vest in equal monthly installments over one year from March 1, 2024.
Sentiment
Score: 5
Explanation: This is a neutral report on stock transactions related to executive compensation. It doesn't inherently indicate positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency to investors regarding the holdings and transactions of company insiders.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and stock ownership.
- The transactions have a minor impact on the overall shareholding structure of the company.
Key Dates
| Date | Description |
|---|---|
| February 12, 2024 | Reporting Person was granted 10,293 RSUs |
| March 1, 2024 | RSUs vesting in equal monthly installments over one year began |
| May 1, 2024 | Vesting of 858 Restricted Stock Units and tax withholding occurred |
| May 3, 2024 | Date of signature for the Form 4 filing |
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