DraftKings Director Matthew Kalish Exercises 383,455 Options

What Happened

• Matthew Kalish, a director of DraftKings Inc. (DKNG), exercised 383,455 stock options on August 12, 2026, acquiring 383,455 shares at an exercise price of $4.70 per share for an aggregate cash outlay of $1,802,239.
• The filing also reports the corresponding derivative/option instrument being disposed/terminated (383,455 units at $0.00), reflecting the conversion of options into shares rather than an open‑market sale.

Key Details

• Transaction date: 2026-08-12; Filing date: 2026-08-14 (timely filing).
• Exercise price: $4.70 per share; Shares acquired: 383,455; Total cash paid: $1,802,239.
• Shares owned after the transaction: not specified in this Form 4.
• Footnotes: F1 indicates the reporting person paid the exercise price and tax withholding in cash; F2 notes these options were granted June 4, 2019 and, as of the filing date, the remaining options have vested.
• Transaction codes: M (option exercise/convert); the $0.00 line represents disposition/termination of the derivative instrument.

Context

• This was an option exercise (convert option to common shares), not an open‑market purchase or sale. Per the filing, Kalish paid exercise costs and tax withholding in cash (not a cashless sell-to-cover).
• Option exercises are common for insiders when options vest; they increase the insider’s share holdings but do not necessarily indicate new market sentiment.