DraftKings CEO Jason Robins Exercises RSUs, Withholds Shares for Taxes

What Happened

• Jason Robins, Chief Executive Officer and Chairman of DraftKings (DKNG), had multiple restricted stock units (RSUs) vest on September 1, 2026. A total of 126,566 RSU-based shares vested. The issuer withheld 61,197 shares to satisfy tax withholding obligations (priced at $23.44/share, total $1,434,457), resulting in a net issuance of 65,369 shares to Robins. On September 3, 2026, he also made a bona fide gift of 12,000 shares to a non‑profit organization.
• These transactions are conversions/vestings of RSUs (transaction code M) with associated tax withholding (code F) and a gift (code G).

Key Details

• Transaction dates: Vesting and withholding on 2026-09-01; gift on 2026-09-03. Filing date: 2026-09-03 (appears timely).
• Vesting detail: 37,500 + 16,404 + 14,008 + 58,654 = 126,566 RSU shares vested.
• Withheld for taxes: 18,132 + 7,932 + 6,773 + 28,360 = 61,197 shares withheld at $23.44 = $1,434,457.
• Net shares delivered to Robins: 65,369 shares.
• Gift: 12,000 shares given to a non‑profit (no sale proceeds).
• Notable footnotes: Each RSU represents a contingent right to one Class A share; issuer withheld shares only to satisfy tax obligations (no open‑market sales). Recent RSU grants that produced these vestings were made in 2023–2026 (see footnotes F6–F9).
• Ownership note: The filing states Robins is the sole holder of 393,013,951 Class B common shares (unregistered). Form 4 does not disclose his total Class A holdings after these vestings.

Context

• These were RSU vestings with shares withheld to cover taxes (a common, administrative occurrence) — the transactions are not open‑market sales by the insider. The gift to a non‑profit is a non‑market transfer and does not indicate trading intent.
• Transaction codes: M = RSU/derivative conversion, F = tax withholding, G = gift. No purchase (P) or open‑market sale (S) occurred in this filing.