DraftKings insider updates holdings after RSU vesting: 767,591 direct

Rhea-AI Filing Summary

DraftKings (DKNG): Form 4 insider equity event. On 11/09/2025, an officer/director reported RSU vesting and related tax withholding. The reporting person acquired 28,308 shares of Class A Common Stock upon vesting and had 13,687 shares withheld by the issuer at $30.4 to cover taxes. Direct beneficial ownership after these transactions was 767,591 shares.

Additional indirect holdings reported: 767,722 shares held by the Paul Liberman 2015 Revocable Trust, 213,597 by the Paul Liberman 2020 Irrevocable Trust, and 200,000 by the Rachel Nager Liberman Irrevocable Trust - 2022.

Insights

Equity compensation analyst

Routine RSU vesting with tax withholding; ownership updated.

The filing shows RSU conversion on 11/09/2025: 28,308 shares delivered from vested RSUs and 13,687 shares withheld to satisfy taxes, a standard non-cash settlement. The withholding price is $30.4 per share.

Post-event direct beneficial ownership stands at 767,591 shares, with additional indirect trust holdings listed separately. This reflects scheduled vesting from a prior grant and does not indicate an open-market sale.

Insider Trade Summary

28,308 shares exercised/converted

Mixed 6 txns

Insider Liberman Paul

Role See Remarks

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	28,308	$0.00	--
Exercise	Class A Common Stock	28,308	$0.00	--
Tax Withholding	Class A Common Stock	13,687	$30.40	$416K
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Units — 28,309 shares (Direct); Class A Common Stock — 781,278 shares (Direct); Class A Common Stock — 767,722 shares (Indirect, Held by the Paul Liberman 2015 Revocable Trust)

Footnotes (1)

1. No shares of Class A Common Stock were transferred or sold upon the vesting of the restricted stock units ("RSUs") other than to the Issuer to satisfy withholding taxes. The Reporting Person received the net of the 28,308 shares of Class A Common Stock underlying the RSUs listed in Table II, and 13,687 shares of Class A Common Stock withheld by the Issuer. Each RSU represents a contingent right to receive one share of the Issuer's Class A Common Stock. On February 9, 2022, the Reporting Person was granted 452,940 RSUs vesting quarterly over four (4) years.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Liberman Paul

(Last) (First) (Middle)

C/O DRAFTKINGS INC.

222 BERKELEY STREET, FLOOR 5

(Street)

BOSTON MA 02116

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
DraftKings Inc. [ DKNG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	See Remarks

3. Date of Earliest Transaction (Month/Day/Year)
11/09/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	11/09/2025		M		28,308	A	(1)	781,278	D
Class A Common Stock	11/09/2025		F		13,687	D	$30.4	767,591	D
Class A Common Stock								767,722	I	Held by the Paul Liberman 2015 Revocable Trust
Class A Common Stock								213,597	I	Held by the Paul Liberman 2020 Irrevocable Trust
Class A Common Stock								200,000	I	Held by the Rachel Nager Liberman Irrevocable Trust - 2022

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	11/09/2025		M			28,308	(2)	(2)	Class A Common Stock	28,308	$0	28,309	D

Explanation of Responses:

1. No shares of Class A Common Stock were transferred or sold upon the vesting of the restricted stock units ("RSUs") other than to the Issuer to satisfy withholding taxes. The Reporting Person received the net of the 28,308 shares of Class A Common Stock underlying the RSUs listed in Table II, and 13,687 shares of Class A Common Stock withheld by the Issuer. Each RSU represents a contingent right to receive one share of the Issuer's Class A Common Stock.

2. On February 9, 2022, the Reporting Person was granted 452,940 RSUs vesting quarterly over four (4) years.

Remarks:

President, Operations

	/s/ Faisal Hasan, attorney-in-fact	11/12/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did DraftKings (DKNG) report in this Form 4?

An officer/director reported RSU vesting of 28,308 shares and tax withholding of 13,687 shares at $30.4 on 11/09/2025.

How many shares does the insider directly own after the transactions?

Direct beneficial ownership is 767,591 Class A shares following the reported transactions.

Were the withheld shares an open-market sale?

No. Shares were withheld by the issuer to satisfy taxes related to RSU vesting, not sold in the market.

What are the insider’s indirect holdings disclosed?

Reported indirect holdings include 767,722 (2015 Revocable Trust), 213,597 (2020 Irrevocable Trust), and 200,000 (Rachel Nager Liberman Irrevocable Trust - 2022).

What are the terms of the RSU grant referenced?

A grant of 452,940 RSUs awarded on February 9, 2022, vesting quarterly over four years, is referenced.

What roles does the reporting person hold at DraftKings?

The reporting person is a Director and President, Operations.