Dodge R Stanton 4

What Happened
Dodge R. Stanton, Chief Legal Officer of DraftKings (DKNG), exercised 62,500 stock options and paid $2.95 per share ($184,375). On the same day (2026-06-11) he sold a total of 62,500 shares in two open-market transactions for combined proceeds of $1,855,202 (54,311 shares at a weighted avg $29.64 and 8,189 shares at a weighted avg $29.97). The exercise and the sales were reported on a Form 4 filed 2026-06-12.

Key Details

• Transaction date: June 11, 2026; Form 4 filed June 12, 2026 (appears timely).
• Option exercise: 62,500 shares acquired at $2.95 per share; aggregate exercise price $184,375. (Footnote F1; options granted Nov 7, 2017 and vested — F5.)
• Sales: 54,311 shares sold at a weighted avg $29.64 (range $28.90–$29.89) for $1,609,778 (F3); 8,189 shares sold at a weighted avg $29.97 (range $29.90–$30.07) for $245,424 (F4). Total sale proceeds = $1,855,202.
• The filing also reports a derivative disposition of 62,500 shares at $0 (reported as a derivative disposition) — see the Form 4 for details.
• The sales were made under a pre-arranged Rule 10b5-1 trading plan adopted March 3, 2026 (F2).
• Shares owned after transaction: not specified in the excerpt provided.

Context
This filing shows an exercise of vested options followed by sales of the same number of shares. That pattern is commonly used to cover the option exercise cost, taxes, or to follow a pre-set selling plan; here the sales were executed under a 10b5-1 plan. Sales do not necessarily indicate a change in insider confidence; purchases are typically more informative about bullish insider sentiment. The net proceeds from the sales (~$1.855M) minus the exercise cost ($184k) equal roughly $1.67M before taxes and fees.