DraftKings (DKNG) CFO Alan Ellingson Receives 28,102 RSU Shares

What Happened
Alan Ellingson, Chief Financial Officer of DraftKings (DKNG), converted vested restricted stock units (RSUs) on September 1, 2026. A total of 41,691 underlying shares vested across multiple prior grants; after the issuer withheld 13,589 shares to satisfy tax withholding, Ellingson received 28,102 net shares. The withheld shares were valued at $23.44 per share, totaling $318,526. The Form 4 lists the conversions as derivative exercises (transaction code M) and the share-withholding as tax-withholding disposals (transaction code F).

Key Details

• Transaction date: 2026-09-01; Form 4 filed 2026-09-03 (timely).
• Vesting breakdown (per footnotes): underlying vested = 41,691 shares; net received = 28,102 shares; shares withheld for taxes = 13,589.
• Tax withholding price: $23.44/share; total withheld value = $318,526.
• Relevant footnotes: F1–F4 explain per-grant withholding and net receipts; F5–F8 list the original RSU grant dates and four‑year quarterly vesting schedules (grants from 2023–2026).
• Shares owned after the transaction: not disclosed in this filing.
• Transaction codes: M = exercise/conversion of derivative (RSU → common stock); F = payment of tax liability via share withholding.

Context
This was not an open-market sale or purchase but routine compensation vesting — the company withheld shares to cover tax obligations (a cashless/stock‑for‑tax withholding). Such filings generally reflect compensation events rather than an executive buying or selling shares to express a market view. The derivative entries showing $0.00 disposed reflect the conversion of RSUs into stock and the associated accounting of those derivative units.