Dodge R Stanton 4

What Happened
Dodge R. Stanton, Chief Legal Officer of DraftKings (DKNG), exercised 40,066 stock options (exercise price $2.95) to acquire 40,066 shares for $118,195 on January 20, 2026. On the same day he sold 30,433 shares at a weighted average price of $31.77 (total ~$966,856) and 22,344 shares at a weighted average price of $32.33 (total ~$722,382), for combined sale proceeds of about $1,689,238. The filing also reports the corresponding disposition of the derivative instrument (the exercised options) at $0.00, reflecting that the options ceased to exist after exercise.

Key Details

• Date: January 20, 2026. Transactions reported on Form 4 filed Jan 22, 2026. No late-filing indication in the filing.
• Exercise: 40,066 options exercised at $2.95 each (cash paid = $118,195). (Code M = option exercise.)
• Sales: 30,433 shares sold @ weighted avg $31.77 (range $31.24–$32.23) and 22,344 shares sold @ weighted avg $32.33 (range $32.24–$32.99). (Code S = sale.)
• Sales were made pursuant to a pre-arranged Rule 10b5-1 trading plan adopted Dec 13, 2024.
• Footnotes note weighted-average price ranges and offer to provide per-price breakdown on request.
• Options exercised were originally granted Nov 7, 2017; as of the filing all remaining such options have vested. The filing corrects a prior report of option holdings.
• The reported disposition of the derivative at $0.00 reflects termination of the option after exercise (not a cash sale).

Context: The insider converted vested options into common shares and sold a portion of shares under a pre-set 10b5-1 plan. Exercises followed by sales can be routine (to cover exercise costs, taxes, or diversify), and sales under a 10b5-1 plan are pre-arranged. This filing is factual disclosure of the transactions and does not indicate the insider’s personal view of the company’s prospects.