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 April 1, 2024, R. Stanton Dodge, the Chief Legal Officer of DraftKings Inc., reported transactions involving Class A Common Stock.
- 857 Restricted Stock Units (RSUs) vested, resulting in the acquisition of 857 shares of Class A Common Stock.
- 375 shares were withheld by the Issuer to satisfy withholding taxes at a price of $44.94 per share.
- Following these transactions, Dodge directly owns 228,744 shares of Class A Common Stock.
- Dodge also holds 9,436 Restricted Stock Units.
- The RSUs vest in equal monthly installments over one year from March 1, 2024, with the initial grant of 10,293 RSUs occurring on February 12, 2024.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests between management and shareholders.
Stakeholder Impact
- The transactions may have a minor impact on shareholders by slightly increasing the number of outstanding shares.
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 begins |
| April 1, 2024 | Date of reported stock transactions (vesting of RSUs and tax withholding) |
| April 3, 2024 | Date of signature on the Form 4 filing |
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