[Form 4] DraftKings Inc. Insider Trading Activity

Rhea-AI Filing Summary

DraftKings Inc. reported an insider stock option exercise by a director and officer. On 11/20/2025, a trust for President of Operations and director Paul Liberman exercised stock options for 89,159 shares of Class A common stock at an exercise price of $3.29 per share. The options, originally granted on 04/18/2018, are now fully vested and, following the exercise, no such options remain outstanding for that trust. The acquired shares are held indirectly through the Paul Liberman 2015 Revocable Trust, alongside additional Class A common stock positions held directly and through other Liberman-related trusts.

Insider Trade Summary

89,159 shares exercised/converted

Mixed 5 txns

Insider Liberman Paul

Role See Remarks

Type	Security	Shares	Price	Value
Exercise	Stock Options	89,159	$0.00	--
Exercise	Class A Common Stock	89,159	$3.29	$293K
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Stock Options — 0 shares (Indirect, Held by the Paul Liberman 2015 Revocable Trust); Class A Common Stock — 856,881 shares (Indirect, Held by the Paul Liberman 2015 Revocable Trust); Class A Common Stock — 767,591 shares (Direct)

Footnotes (1)

1. The Reporting Person acquired shares of Class A Common Stock of the Issuer upon the exercise of stock options and paid the aggregate exercise price and the tax withholdings in cash. These stock options were granted on April 18, 2018. As of the date hereof, all such remaining stock options have vested.

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
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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)
11/20/2025

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	11/20/2025		M		89,159(1)	A	$3.29	856,881	I	Held by the Paul Liberman 2015 Revocable Trust
Class A Common Stock								767,591	D
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
Stock Options	$3.29	11/20/2025		M			89,159	(2)	04/18/2028	Class A Common Stock	89,159	$0	0	I	Held by the Paul Liberman 2015 Revocable Trust

Explanation of Responses:

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

2. These stock options were granted on April 18, 2018. As of the date hereof, all such remaining stock options have vested.

Remarks:

President, Operations

	/s/ Faisal Hasan, attorney-in-fact	11/21/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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