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 November 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.
- 375 shares were withheld by the Issuer to satisfy withholding taxes at a price of $35.69 per share.
- Following these transactions, Dodge directly owns 271,788 shares of Class A Common Stock.
- Dodge also holds 3,431 derivative securities in the form of Restricted Stock Units.
- 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 is a routine filing related to executive compensation and is typical for publicly traded companies.
Stakeholder Impact
- The transaction has a minor impact on shareholders due to the increase in shares outstanding from RSU vesting.
- The transaction impacts the executive's personal holdings.
Key Dates
| Date | Description |
|---|---|
| February 12, 2024 | Reporting Person was granted 10,293 RSUs vesting in equal monthly installments over one (1) year from March 1, 2024 |
| March 1, 2024 | RSUs vest in equal monthly installments over one (1) year from this date. |
| November 1, 2024 | Date of transaction: vesting of restricted stock units and tax withholding. |
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