Robins Jason 4

What happened

• Jason Robins, Chief Executive Officer and Chairman of DraftKings (DKNG), had RSUs vest on June 1, 2026. A total of 126,566 Class A shares vested across four RSU tranches; the issuer withheld 61,197 shares to satisfy tax withholding, leaving Robins with a net 65,369 newly issued Class A shares.
• The issuer withheld 61,197 shares valued at $26.33 per share, totaling $1,611,318 to cover withholding taxes. The filing reports conversion/vesting entries (transaction code M) and withholding/tax payment entries (transaction code F).

Key details

• Transaction date: June 1, 2026; Form 4 filed June 2, 2026 (timely).
• Shares vested (gross): 126,566 Class A shares (broken into 37,500; 16,404; 14,008; 58,654).
• Shares withheld for taxes: 61,197 shares at $26.33/sh = $1,611,318.
• Net shares received by Robins: 65,369 Class A shares.
• Footnotes: Each RSU converts to one Class A share. The withheld shares were surrendered to the issuer solely to satisfy withholding taxes (no open-market sale).
• Related grants: RSU awards referenced from 2023–2026 (grants on 2/13/2023, 2/12/2024, 2/10/2025, 2/17/2026 vesting quarterly over four years).
• Post-transaction holdings: Robins is also the sole holder of 393,013,951 Class B shares (unregistered). The filing documents an increase in Class A holdings by 65,369 shares.

Context

• This was a routine RSU vesting event, not an open-market buy or sell. The use of shares withheld to cover taxes is common and does not necessarily indicate a change in insider sentiment.
• Transaction codes: M = exercise/conversion of a derivative (RSU conversion here); F = payment of exercise price or tax liability (share withholding).