Ellingson Alan Wayne 4

What Happened

• Alan Wayne Ellingson, Chief Financial Officer of DraftKings (DKNG), had restricted stock units (RSUs) vest on May 1, 2026. The filing shows a gross conversion of RSUs resulting in 5,749 underlying shares, of which 4,311 shares were delivered to Ellingson and 1,438 shares were withheld by the company to satisfy tax withholding obligations. The withheld shares were valued at $23.00 each, totaling $33,074.
• These entries are conversion/vesting of RSUs (reported under code M for exercise/conversion) and tax withholding (code F). This was a vesting/tax-withholding event, not an open-market sale or purchase.

Key Details

• Transaction date: May 1, 2026; Form 4 filed May 5, 2026 (filed within the 2-business-day window).
• Shares delivered (net): 4,311; Shares withheld for taxes: 1,438 at $23.00/share = $33,074. Gross vested shares = 5,749 (4,311 + 1,438).
• Shares owned after the transaction: not specified in the provided excerpt of the filing.
• Footnotes: F1 explains no open-market sale occurred—shares were only withheld by the issuer to satisfy taxes. F2 notes the RSUs were granted May 1, 2024 (68,963 RSUs total) and vest quarterly over four years.
• Transaction codes: M = conversion of derivative (RSU vesting to shares), F = shares withheld to satisfy tax liability.

Context

• This was a routine RSU vesting event with cashless share withholding for taxes (company retained 1,438 shares rather than selling them on the open market). That means no proceeds to the insider beyond receiving the net shares, and it does not represent an intentional open-market sale or purchase signal.
• For retail investors, note this is standard compensation-related activity by an executive and should be interpreted as vesting/tax mechanics rather than a directional trade by management.