Form 4: DraftKings CLO Reports RSU Vesting & Tax Withholding

DraftKings Chief Legal Officer R. Stanton Dodge reported the vesting of 808 restricted stock units and the subsequent withholding of 354 shares for tax obligations.

Summary

• R. Stanton Dodge, Chief Legal Officer of DraftKings Inc. (DKNG), reported transactions on October 1, 2025.
• 808 Restricted Stock Units (RSUs) vested, resulting in the acquisition of 808 shares of Class A Common Stock.
• 354 shares of Class A Common Stock were disposed of (withheld by the Issuer) at a price of $35.16 per share to satisfy tax withholding obligations related to the RSU vesting.
• Following these transactions, R. Stanton Dodge directly beneficially owns 512,635 shares of Class A Common Stock.
• The reporting person also beneficially owns 4,037 derivative securities (Restricted Stock Units).
• The RSUs that vested were part of a grant of 9,692 RSUs on February 10, 2025, which vest monthly over one year from March 1, 2025.

Sentiment

Score: 6

Explanation: The filing reports a routine, scheduled vesting of executive compensation, which is a positive event for the insider but has a neutral impact on the company's overall financial health or strategic direction. The withholding of shares for taxes is a standard procedure.

Positives

• Chief Legal Officer R. Stanton Dodge received 808 shares of Class A Common Stock from the vesting of Restricted Stock Units, increasing his direct ownership.
• The vesting of RSUs represents a scheduled compensation event for the executive.

Negatives

• 354 shares of Class A Common Stock were withheld by DraftKings Inc. to cover tax obligations, reducing the net shares received by the executive.

Future Outlook

The remaining 4,037 Restricted Stock Units held by R. Stanton Dodge are part of a grant of 9,692 RSUs from February 10, 2025, which are scheduled to continue vesting monthly over one year from March 1, 2025.

Industry Context

This routine insider transaction reflects standard equity compensation practices within the technology and online gaming industry, where executives often receive Restricted Stock Units as part of their remuneration package, vesting over time to align interests with shareholders.

Stakeholder Impact

• **Shareholders:** Minimal direct impact as this is a routine, scheduled insider transaction related to executive compensation. It reflects ongoing alignment of executive interests with company performance through equity ownership.
• **Employees:** No direct impact mentioned.
• **Management:** R. Stanton Dodge's equity stake in DraftKings Inc. is maintained and increased through the net shares received, aligning his interests with the company's long-term performance.

Next Steps

• Continued monthly vesting of the remaining 4,037 Restricted Stock Units held by R. Stanton Dodge, as per the original grant schedule.

Key Dates

Keywords

DraftKings, DKNG, R. Stanton Dodge, Chief Legal Officer, Form 4, Insider Transaction, Restricted Stock Units, RSU Vesting, Equity Compensation, Share Ownership