Ellingson Alan Wayne 4

What Happened

• Alan Wayne Ellingson, CFO of DraftKings (DKNG), had restricted stock units (RSUs) convert to 28,103 shares of Class A common stock on 2026-06-01. To satisfy tax withholding, 13,558 of those shares were withheld by the company and treated as disposed at $26.33 per share, producing $356,982 in tax-withholding proceeds. The conversion/vesting events are reported as derivative exercises (code M) and the withholding as tax-withholding disposals (code F).

Key Details

• Transaction date: 2026-06-01; Form 4 filed 2026-06-02 (timely).
• Net shares received (after withholding): 28,103 shares.
• Shares withheld for taxes (disposed): 13,558 shares at $26.33 each for total proceeds of $356,982.
• Transaction codes: M = exercise/conversion of derivative (RSU vesting); F = tax withholding to satisfy tax liability.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Related grant footnotes: the vested RSUs trace to grants on Mar 1, 2023 (34,245 RSUs), Feb 16, 2024 (11,868 RSUs), Feb 10, 2025 (84,807 RSUs), and Feb 17, 2026 (318,725 RSUs); vesting is quarterly over four years per grant.

Context

• This was an RSU vesting event with company withholding to cover taxes (a common "cashless" settlement), not an open-market sale or purchase. The derivative code (M) reflects the conversion of RSUs into shares; the F entries reflect shares withheld by the issuer to satisfy withholding tax obligations. Such withholding transactions are routine administrative events and do not necessarily reflect a change in insider sentiment.