DraftKings (DKNG) Chief Legal Officer sells 62,500 shares after option exercise

Rhea-AI Filing Summary

DraftKings Inc. Chief Legal Officer Dodge R. Stanton reported an option exercise and related stock sales. He exercised stock options covering 62,500 shares of Class A Common Stock at $2.95 per share, paying the aggregate exercise price in cash.

On the same date, he sold a total of 62,500 shares of Class A Common Stock in open-market transactions at weighted average prices of $29.64 and $29.97 per share. The sales were made under a pre-arranged Rule 10b5-1 trading plan adopted on March 3, 2026, and the reported prices reflect weighted averages over multiple trades within disclosed price ranges.

Insider Trade Summary 10b5-1

Net Seller: 62,500 shares ($1,855,202)

Net Sell 4 txns

Insider Dodge R Stanton

Role Chief Legal Officer

Sold 62,500 shs ($1.86M)

Type	Security	Shares	Price	Value
Exercise	Stock Option	62,500	$0.00	--
Exercise	Class A Common Stock	62,500	$2.95	$184K
Sale	Class A Common Stock	54,311	$29.64	$1.61M
Sale	Class A Common Stock	8,189	$29.97	$245K

Holdings After Transaction: Stock Option — 1,273,243 shares (Direct, null); Class A Common Stock — 618,758 shares (Direct, null)

Footnotes (1)

1. The Reporting Person acquired shares of Class A Common Stock of the Issuer upon the exercise of stock options and payment of the aggregate exercise price in cash. The reported sale was made pursuant to a pre-arranged program for selling shares of Class A Common Stock adopted on March 3, 2026 pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $28.90 to $29.89, inclusive. The Reporting Person has provided to the Issuer, and undertakes to provide any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes 3 and 4 to this Form 4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $29.90 to $30.07, inclusive. See the last sentence of footnote 3 to this Form 4 above. These stock options were granted on November 7, 2017. As of the date hereof, all such remaining stock options have vested.

Key Figures

Shares sold: 62,500 shares Weighted average sale price 1: $29.64 per share Weighted average sale price 2: $29.97 per share +4 more

7 metrics

Shares sold 62,500 shares Class A Common Stock sold in open-market transactions on 2026-06-11

Weighted average sale price 1 $29.64 per share First block of Class A Common Stock sales

Weighted average sale price 2 $29.97 per share Second block of Class A Common Stock sales

Options exercised 62,500 shares Stock options converted into Class A Common Stock

Option exercise price $2.95 per share Exercise price for stock options granted on November 7, 2017

Option expiration 2027-11-02 Expiration date for exercised stock options

Net share direction -62,500 shares Net sell direction from transaction summary

Key Terms

Rule 10b5-1, weighted average price, stock options, Class A Common Stock, +1 more

5 terms

Rule 10b5-1 regulatory

"The reported sale was made pursuant to a pre-arranged program for selling shares ... pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934."

Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.

weighted average price financial

"The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions..."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

stock options financial

"The Reporting Person acquired shares ... upon the exercise of stock options and payment of the aggregate exercise price in cash."

Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.

Class A Common Stock financial

"The Reporting Person acquired shares of Class A Common Stock of the Issuer upon the exercise of stock options..."

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

pre-arranged program regulatory

"The reported sale was made pursuant to a pre-arranged program for selling shares of Class A Common Stock adopted on March 3, 2026..."

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

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).

X

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^*

Dodge R Stanton

(Last) (First) (Middle)

C/O DRAFTKINGS INC.

222 BERKELEY STREET, 5TH FLOOR

(Street)

BOSTON MASSACHUSETTS 02116

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Legal Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/11/2026

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

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

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

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	06/11/2026		M		62,500(1)	A	$2.95	618,758	D
Class A Common Stock	06/11/2026		S(2)		54,311	D	$29.64(3)	564,447	D
Class A Common Stock	06/11/2026		S(2)		8,189	D	$29.97(4)	556,258	D

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
Stock Option	$2.95	06/11/2026		M			62,500	(5)	11/02/2027	Class A Common Stock	62,500	$0	1,273,243	D

Explanation of Responses:

1. The Reporting Person acquired shares of Class A Common Stock of the Issuer upon the exercise of stock options and payment of the aggregate exercise price in cash.

2. The reported sale was made pursuant to a pre-arranged program for selling shares of Class A Common Stock adopted on March 3, 2026 pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $28.90 to $29.89, inclusive. The Reporting Person has provided to the Issuer, and undertakes to provide any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes 3 and 4 to this Form 4.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $29.90 to $30.07, inclusive. See the last sentence of footnote 3 to this Form 4 above.

5. These stock options were granted on November 7, 2017. As of the date hereof, all such remaining stock options have vested.

Remarks:

	/s/ Faisal Hasan, attorney-in-fact	06/12/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transactions did DraftKings (DKNG) report for Dodge R. Stanton?

DraftKings reported that Chief Legal Officer Dodge R. Stanton exercised stock options for 62,500 Class A shares at $2.95 and sold 62,500 shares in open-market transactions at weighted average prices of $29.64 and $29.97, all on the same date.

Was the DraftKings (DKNG) insider sale by Dodge R. Stanton pre-planned?

Yes. The reported sales by Dodge R. Stanton were executed under a pre-arranged trading program adopted on March 3, 2026 pursuant to Rule 10b5-1, indicating the sale timing was set in advance rather than being a discretionary, same-day decision.

At what prices did Dodge R. Stanton sell DraftKings (DKNG) shares?

Stanton’s sales used weighted average prices of $29.64 and $29.97 per share. The filing states the shares were sold across multiple trades within price ranges from $28.90 to $30.07, and detailed trade-by-trade information is available on request.

What stock options did Dodge R. Stanton exercise in this DraftKings (DKNG) Form 4?

He exercised stock options granted on November 7, 2017 to acquire 62,500 shares of Class A Common Stock at an exercise price of $2.95 per share. The filing notes all remaining stock options from that grant were fully vested as of the transaction date.

Did Dodge R. Stanton pay cash to exercise his DraftKings (DKNG) options?

Yes. The filing states that Stanton acquired Class A Common Stock upon exercising stock options and paid the aggregate exercise price in cash, rather than using a cashless exercise or share withholding structure to fund the option exercise.